Bitcoin Struggles to Break $36K After Hitting 18-Month Highs; Traders Eye Further Correction or Bullish Breakout
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Bitcoin struggled to break above $36,600 after briefly reaching 18-month highs earlier in the week. Some traders hope for a deeper correction to retest lower support levels like $33,000 or $30,900.
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Rising 21-day moving average around $35,700 is providing some near-term support. Key levels to watch are support at $35,700 and resistance at $38,000.
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Altcoins underperformed compared to Bitcoin, with top altcoins like ETH, XRP, and SOL seeing 3-11% drops over 24 hours.
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Bitcoin dominance increased to 1-week highs, suggesting potential for Bitcoin to outperform alts.
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Overall market sentiment is mixed, with some expecting further correction but others seeing signs of bullish upside for Bitcoin in the near-term.