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Bitcoin (BTC) over $42k
We have seen a nice 10% move in BTC in the last 12 hours, with the current price just over $42,000. Price has currently been rejected at the 0.618 retracement level of $42430.
If we can break through $42,430, the next resistance will be at the 0.786 level ($43,600).
There is also the descending Daily Resistance line from November last year, at the same level, which will also act as a very tough resistance point to get through. A rejection is highly possible.
BTC.D update
Together with the BTC move in the last 12hrs, Bitcoin dominance (BTC.D) has also moved up from 43.3% up to 44.2%. Money is therefore still flowing into Bitcoin. Dominance has been ranging in a channel for the last two months, and could carry on trending up, into the very tough resistance area at around 45%. A rejection in that area, will result in money starting to flow into the altcoins, that have been lagging Bitcoin over the last 3 months.
