Thoughts on the crypto market on 01/04/2021

Bitcoin greeted 2021 the way it should be to greet the Year of the Ox. ATH was updated daily, yesterday it reached 34832, after which the main cryptocurrency stabilized in the range of 32700-33800, where it is currently being traded.

Now Bitcoin is worth 33,500. Market capitalization is 881 billion, Dominance Index is 69.6%.

The financial ones opened at the same level as they closed - the appetite for risk remains. The dollar index opened with a fall and stabilized around 89.6, oil is growing, BRENT has surpassed the maximum of December 18, 2020 and reached the February 2020 levels. Gold is trading for 1925 (it has not been at this level since the beginning of November), which is natural with such a dollar index, S&P 500 futures are trading near the closing price, Asian indices are growing.

On the crypto market, everything is going according to yesterday's forecast.
Capitalization has once again updated ATH, now it is 890.1 billion, the dominance index is decreasing, and the TOP altcoins are starting to grow. Ether reached 992, Litecoin 163, BNB 42. With such an index, the entire TOP has leadership in growth. A prerequisite for this is a stable Bitcoin.

While the main cryptocurrency indicated support for 32,700, let's see how the next day goes. It is important to stay above 30K, which will be in this case, wrote in yesterday's Review.

Regarding XRP, on the one hand, Binance US will delist XRP on January 13.
But everyone has already heard about it. But the information that the Grayscale fund before the New Year made the largest one-time purchase of XRP at an average price of 0.24 came as a surprise to many.

Especially for those who sold XRP in the red. The information that this fund had sold a large batch of XRP and XML was also denied, which was announced in the early days of 2021, when there was no one to refute this information, and the deer were draining the asset in panic.

The priority option for today is Bitcoin in the range of 32,700 - 34,500, and the growth of altcoins. This is a continuation of the development of the standard market cycle, the fall of the dominance index in the range of 65-67% will be relevant.

An alternative is the departure of Bitcoin below 32700, retest 30600 - 30500. The development of events in this case depends on the reaction to the level.

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Category: Analytics | Views: 73 | Added by: andryvrozhkov | Tags: #Bitcoin #Bitcoin Price #BTC | Rating: 5.0/1
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