Good evening to all my friends. I hope you all are doing well. Winter is almost here. I am having a good day. Btw let's talk about crypto market. Recently, Bitcoin broke its resistance level at $68,000 but has since seen a correction, causing many investors to worry about a potential market crash. Over the past 24 hours, Bitcoin dropped by 4%, leading to panic among investors. Understanding the current situation is crucial. In the past year, when the USD dominance broke down, Bitcoin surged from $25,000 to $74,000. Currently, the USD dominance is struggling at its long-term support and resistance levels.
Guys, When Bitcoin broke its resistance, it was expected to find support at that level. However, Bitcoin is currently trading around $66,800, and a retest of the $68,000 support is underway. If Bitcoin closes above this support, it could indicate a continuation of the upward trend. We're also seeing a bullish crossover in the MACD, similar to last year's patterns when Bitcoin surged after such crossovers. While some volatility is possible, the key is whether Bitcoin can close above the support level. In the upcoming days, a golden cross could form, which historically has preceded upward moves in Bitcoin. However, this doesn’t guarantee immediate price jumps, but it signals potential bullish momentum. Overall, while corrections can happen, the long-term indicators suggest possible growth ahead if support holds. That's it for today. Here's the latest update video of crypto market. Thanks & have a good day!!
