Bitcoin Vs Alcoins. It will go back more Bitcoin or Alcoins. Bitcoin Dominance a key moment.

The entire crypto market is going down but more Bitcoin which can be a good support

Bitcoin and Stock Markets Pull Back U.S. Inflation Exceeds Estimates at 8.3%.

The news

The latest consumer price index reading was 20 basis points lower than last month's 8.5% reading, but beat expectations for a cooldown to 8.1%.

keys

• US inflation hit 8.3% in August, the latest consumer price index revealed. The price of goods rose 0.2% monthly.
• Printing beat expectations for a 8.1% cooldown.
• The price of the dollar rises
• Markets reacted in a panic, with both Bitcoin and Ethereum falling sharply immediately after the data dropped.

At the time of writing this post, Bitcoin fell by more than 9% compared to Alcoin to a lesser extent.

Bitcoin Dominance

Today Bitcoin falls more than alcoins

It is the key chart today, we saw how in previous days the dominance of Bitcoin rebounded after having touched a support level.

There are 2 key holders

• A key support is where you are currently at 40% dominance

• Another key support would be that he re-tested when touching the triangle that he had broken in previous days

It is not good data that the dominance of Bitcoin goes back so much, to think of a Bullish Bitcoin in the short term.

Bitcoin Price

If we analyze the Bitcoin chart, the price has fallen back to 0.687% fibonacci.

Bitcoin could bounce up, the problem I find is the size of the daily candle, when candles of large daily retracements occur the following days tend to continue to retreat a little more.

It would be important that today's candle does not end at the daily lows, to think of a short-term bullish Bitcoin.

What do you think will Bitcoin or Alcoins have more strength in this setback

Posted Using LeoFinance ^Beta