The rapid recovery of Bitcoin was the main focus of the week, as the most valuable coin not only regained its steep losses, but reached a new marginal record near the end of the period. The entire segment is experiencing capital inflows as the total value of the coins climbed above $ 230 billion for the first time after finally leaving the $ 200 billion mark.
BTC crossed the $ 8,000 level before dropping slightly on Friday, but despite the daily chart of severe overbought, it still traded near its all-time highs. As the long-term chart still suggests a deeper correction, investors should wait with the opening of new positions and traders should also control the size of the positions here. Key support levels are $ 7,700, $ 7,000 and $ 6,700, while the recent key allocation level of $ 5,000 has still not been re-verified.
BTC / USD, Daily Graphical Analysis
Dash is still the most bullish altcoin from a technical point of view, despite the short-term correction of this week because the coin is trading above its historic highs And this weekend, he seems ready to test the break-out nearly $ 500. Support levels are still at $ 400, $ 360 and $ 330, and as the long-term situation approaches an overbought territory, investors should only hold their positions in that country.
DASH / USD, Daily Chart Analysis
The other major altcoins are also mostly bullish, some of them being already in the last phases of this cycle, like Monero and IOTA, but elsewhere in the segment, there are still opportunities for traders and investors. Let's see the long-term detailed view.