#Bitcoin Update – Monday, 25.11.2024

25 nov.

As-salamu alaykum and Good Morning to All Brothers and Sisters,

#Bitcoin has started a retracement after hitting our first Take Profit (TP) target at 98,554, precisely as expected. The confirmation of this retracement came on the 4-hour timeframe (4H). While the price initially broke above the resistance line on the 4H chart, it was blocked by the Black Line (a strong resistance level).

Where are the retracement points?

The first retracement level to watch is marked at Arrow #2 on the 4H chart. However, if the price fails to hold at this level, the next key retracement point will be at Arrow #3. As long as Bitcoin stays above this level, the overall trend remains bullish. If the price breaks below Arrow #3, we could see a deeper retracement, potentially heading towards Arrow #5 and Arrow #6. These lower levels would indicate a significant correction, so keeping a close watch is crucial.

#Alts (Altcoins)

Finally, we’re seeing Bitcoin dominance (BTC.D) giving some room to altcoins! Dominance continues to drop, creating space for alts to shine. This movement has allowed many of our altcoin signals to hit their Take Profit targets, and the trend is still favorable for new opportunities. As long as Bitcoin dominance declines, we have plenty of room for new signals and trades.

Take advantage of this momentum, but stay vigilant. Keep securing profits, and always be ready for market shifts.

Stay tuned for more updates, and I wish you all a very profitable and successful weekend! Have a great day!