Finally we had bounce around $2200 area and moving back to its mean rounding top which is close to $2650-$2700 is the resistance to offer during this entire bounce.
Any break at the rounding top will have upward thrust to $3500 by breaking out of the top area and testing the same curve to test and march towards to $3000 initially and consolidate to make new highs but this has much work to do as the damage has done and needs alot of repair so what does that mean:
1.Correction price wise
2.Correction time wise
Once we have time wise correction with back and forth filling in this then new participants will join the bandwagon only when it breaks the rounding top, Otherwise we are going to test the next level of support drawn around $2000 which is very bearish sentiment.
So stay caution with the bounce as its going to be trading range from $2500- $2700.
Good Luck
Happy Trading.
Great...
But now that Bitcoin Dominance in Crypto world is down to 38% I not too sure about BTC long term targets.
Ether will soon surpass Bitcoin..
Later a 3rd Coin will be at $300 plus... then that hogs the limelight.
Oh yea dominance for certain crypto's will fade but will not die as this is pure REJECTION OF FIAT MONETARY system which is on going right after 2008 crisis, Central bankers are on bandwagon printing money as if there is no tomorrow which includes Japan yen, Euro and US dollars and these FIAT money should die before that we will see so many cryptos popping and only that will survive which has MINING capabilities.
We don't know which will overtake which one as its evolution process in this space too and we are lucky we are early on in this..... before every common man knows about this space and has truly transaction capabilities for daily usage as the regular money does.So we are long way in this space which i would refer baby steps !!!
yes baby steps