Hello everyone, 
BTCUSD
In my opinion, Bitcoin has entered a bearish trend. Considering its numerous touches on the support level I’ve drawn in the $91,000 to $92,000 range, there’s a strong possibility that this level may break, leading to lower price levels. Additionally, Bitcoin dominance has increased, indicating capital outflows from altcoins, which could suggest that the market is moving toward lower price levels.
It might be a good idea to close our long positions and gradually start opening short positions, especially in altcoins, after getting confirmation from the market.
What is your idea?
BTCUSD In my opinion, Bitcoin has entered a bearish trend. Considering its numerous touches on the support level I’ve drawn in the $91,000 to $92,000 range, there’s a strong possibility that this level may break, leading to lower price levels. Additionally, Bitcoin dominance has increased, indicating capital outflows from altcoins, which could suggest that the market is moving toward lower price levels.
It might be a good idea to close our long positions and gradually start opening short positions, especially in altcoins, after getting confirmation from the market.
What is your idea?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.