Today is a painful, but still important day for the crypto market.
Tonight, the price of BTCUSDT without special anomalous volumes updated the May minimum and now sets the current price minimum in 2022.
At the same time, this fall completely filled the GAP $23,800-26650, which reminding out of myself since the end of December 2020, the mission is complete.
The price BTCUSD also broke the parabolic growth trend, which lasted more than 3.5 years. This is bad news.
Bitcoin forecast – two main scenarios
The most positive option that is currently being viewed is the month of trading the BTCUSD price in the range of $24000-29000
If the price is kept there, then it is still possible of growth with fractal by mid-late November 2022. BTC price increases to $51000-52000
The negative scenario is a continuation of the decline and possibly even on larger volumes. The nearest BTCUSDT price support zones below are $20-21 thousand and $14-15k.
By the way, I wonder if The Block, Microstrategy , EL Salvador, Tesla they sold part of their BTC , which according to official data is already in the fall -20-40% or not?
Have you not encountered such information? Share in the comments.
Now all the capital on cryptomarket goes to USDT and cash, alts falls many times stronger than the price of Bitcoin
Therefore, the dominance of the USDT is growing abnormally.
If you will see that the dominance of the USDT has begun to fall, you can try to go a little into the altcoins.
Again, the fractal indicates that a mini-alts-season is possible until mid-late November 2022.
BTC.D’s dominance has also reached a critical level. A drop in this figure may also allow ALTS to breathe fresh oxygen.