The cryptocurrency market continues to follow the rise of Bitcoin. However, the leading cryptocurrency is now chasing new highs. Bitcoin has settled in this zone after testing $73,000. Which levels should we follow in Bitcoin? Where is the direction from now on?
Bitcoin Price Analysis:
Bitcoin fell to a frightening low of $69,000 last evening. After the fall, it quickly recovered and reached $73,000 again. Bitcoin’s course in this region increases the buying sentiment in the market, but the fact that Dominance is still in the 53 band does not allow altcoins to make their expected rises.
Looking at Bitcoin‘s current outlook, we can say that the support level is the 70-71 thousand dollar band. The direction will still be up in the closures we will experience in this region. On the other hand, there are no restrictions in front of Bitcoin as resistance. Considering that Bitcoin Dominance is currently in the 53 band, the increase in dominance can take us higher, while the decline in dominance will allow altcoins to rise.
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