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Bitcoin Looms Under $100k: A Bullish Momentum Is Coming
As the year draws to a close, it’s hard not to notice the tumultuous ride that Bitcoin has been on. The market sentiment is at an all-time high, and I’m here to tell you that this means we’re in for a rude awakening – or should I say, a rude rise?
While most people are expecting a price drop due to greed and euphoria, I’m here to tell you that the opposite is true. As soon as market sentiment turns bearish and people start shorting Bitcoin, it will pump again. You see, this pattern has repeated itself many times before.
I know it’s hard to believe, but I’ll give you some data to back up my claims.
Bitcoin’s historical performance when its market dominance falls below 56%. This zone typically acts as support for the asset.
In recent history, whenever BTC dominance fell below this point (58.43%), the price of Bitcoin has followed suit, so this particular area can be said to be a support zone.
It seems like we’re headed towards another bearish trap.
Source: coinpedia.org
