Bitcoin hits 1.618 Fibonacci and may find a top soon.
The weekly chart of Bitcoin shows a massive run in the previous period as the region around the all-time high is being tapped.
There are several key price levels to watch if Bitcoin corrects before reaching $20,000.
The total market capitalization of cryptocurrencies has arrived at the next and final resistance zone before a possible new all-time high: $500 billion is likely to be a significant hurdle to overcome.
Remarkably, Bitcoin's price is now just 10% beneath its all-time high and has already broken its all-time high market cap.
The total cryptocurrency market cap is still down 35% from its all-time high.
One of them is the increase in Bitcoin dominance over the past weeks, which has risen to over 66%. As long as Bitcoin is in the spotlight, altcoins will not perform well.
If Bitcoin corrects, then altcoins are likely to drop even more.
Price against Bitcoin and whether ETH/BTC has bottomed.
The best conditions for altcoins are a slow, upward grind in the price of Bitcoin.
Bitcoin rebounds to $18K after crucial support level holds
Published on Nov 19, 2020
by Cointele | Published on Coinage
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