$BTC DOMINANCE UPDATE #cryptocurrency
On the H4 timeframe, the price action of Bitcoin Dominance has experienced a rejection from its H4 Horizontal Resistance level. As a result, the price has moved towards its Daily Horizontal Support level, which is marked between the 47.74% to 47.63% level. This movement has completed the C leg of the Bearish Harmonic Bat pattern.
Currently, the price action has invalidated the formation of the Bearish Harmonic Bat pattern, and it needs to complete the D leg of the pattern. It is also respecting the Horizontal Support level. From this point, we can anticipate a potential bounce back.
However, it is worth noting that all the EMA indicators are showing resistance levels.
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