BTC has been trading sideways for a long time and is attempting to hold the support at $25,000-$25,200. If it forms a wick and closes back above the support, we can refer to it as a liquidity sweep. In this scenario, I would expect a test of the $26,800 level. Currently, the support zone at $25,200 is a crucial level for BTC. Daily closes below this zone indicate a decrease in buyers, and the price would likely aim to test the lower support zones. The support levels I’m monitoring are $24,800 and $24,100, while the resistance levels I’m watching are $26,300 and $26,800.
The Tether dominance chart is currently in an interim resistance zone, and if it maintains levels above 8.50%, the key resistance level I’m monitoring is at 9.30%. If it experiences a rejection below 8.50%, we might anticipate a drop back to around 8.05%.
The analysis shared here are not intended as investment advice, but rather as potential short to medium-term trading opportunities in the market. The responsibility for taking trades and managing risks lies with the user. It is strongly recommended to use stop loss orders when executing trades.