Bitcoin struggling at the high end of its range.
Greetings to all readers of this great platform, especially to those who make life within the great community of #ProjectHOPE, in the present opportunity I want to talk a little about the crypto market and what continues to perform the Bitcoin, having a really striking behavior in the current moments of the market, when taking into consideration that it is struggling in the upper zone of the accumulation channel that has marked in the present market.
Screenshot taken at: Coingecko |
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Observing the behavior of the crypto market, we can be seeing a very striking situation at the beginning of the year, and with this having clarity in the behavior of the Altcoins, taking into consideration the behavior and the zone in which it is, as we are facing a situation of the Bitcoin that is in the upper part of the accumulation channel, with a great resistance in the market in the 104k zone.
Taking this into consideration, we can see how at the time of the growth of Bitcoin the largest number of investors are in this cryptocurrency, situation by which the Altcoins do not see them grow, rather they are losing value with investors who sometimes make mistakes selling the altcoins in the low zone and buying Bitcoin in the high zone, which ends up hurting them economically.
On the other hand, in the moments that the Bitcoin corrects in the market and seeks the low zone of the current accumulation channel, the Altcoins tend to rise strongly and generate a very high zone in its price, we must be attentive to the next hours of the bitcoin or days, to know what it can do and what will do the Altcoins who are really running with many force in the crypto market, which leads us to think that it will be a great year for cryptocurrencies.
I believe so much that it is just a matter of time before bitcoin will bounce up back as I am so sure of that