BTC (Y21.P1.E17).Price Action explained

Hi Traders,

For the newbies and others, where are we at?

BTC dominance has hit the first target and is likely to pause here and it seems its in sync with the 4 hrly RSI chart hitting bottom.
This does point towards that the bottom is in but one can never be sure.
The other confluence is the level of btc and its surroundings point to this fact as well.
That is fib level on the macro 0.5 retracement
Previous resistance or the root of this wave when it first started.


All the best,

S.SAri

NOTE or Refence previous post warning about the drop, or deeper correction.

Comentário:

looking at the price action, $42k is still on the table, which equates to the 0.618 retracement. Looking at the btc dominance, it hasn't hit its target and is still waiting for it. Question is, which is more likely to get btc dominance to its target right now, more downs or price spike?