Bitcoin and Whole Market update - As next Bitcoin halving da | Universal Crypto Signals Pro

Bitcoin and Whole Market update -

As next Bitcoin halving date is coming closer, we are seeing the increment in the volatility in the market which was almost completely dry with volume for several weeks. Bitcoin is gaining the volume steadily.

Let's talk about 1D timeframe of Bitcoin -
After printing a failed death cross on 11th September 2023 , Bitcoin again printed a golden cross on 29th October 2023. A failed death cross is indicating that the selling pressure or the bear pressure is now reducing drastically and market is optimistic to go up.
Bullish Scenario - Bitcoin has strong resistance at $37980-$38250 zone. A daily candle closing above 38250$ will give it a bullish momentum towards next resistance $39600 along with psychological resistance of $40000. And if Bitcoin breaks this resistance and close above 40500$ then we can see it at 42300$ before next leg down again towards 35100$ zone retest.
Bearish Scenario- Bitcoin daily candle closing below $35100 can lead it to 32400$ zone where there is good liquidity to grab. There is good demand zone at $30420-$30780.
Supports -
$35550-$35800 Local
$33840-$34200 weak
$32040-$32400 neutal
$30600-$30960 strong
$30000 psychological
Resistances-
$36900-37260 weak
$37980-$38250 neutral (currently strong on short term timeframe)
$39600 strong
$40000 psychological
$42300-42660 strong

Bitcoin Dominance Analysis-
Bitcoin Dominance is currently at 52.60% and the support is at 51.84% as per tradingview index. It is NOT looking bearish yet so we recommend to not open many BTC pair trades as those lag if BTC dominance starts going up again. 4H timeframe for BTC dominance is looking bullish which can lead it to first resistance 53.10% and next is 54% strong resistance. So if you are trading in BTC/Satoshi pairs then we recommend you to put limit orders below 7% to 20% of current price in DCA (dollar cost averaging) order.
Supports- 51.84% , 51.12% , 50.04% , 48.60% strong
Resistances- 53.10% , 54.36% strong, 55.62% , 57.60% strong

CMC (Crypto Market Cap) Analysis-
CMC is currently at 1.354T$ and it is having strong resistance around 1.429T$-1.44T$ zone. Nearest support is 1.305T$ while next lower supports are 1.251 T$-1.26 T$ , 1.134 T$ -1.152T$ strong. 990B$ - 1T$ psychological support has proven to be strong in recent times as it held the price movement there without letting it breaking down.
Resistances are 1.429T$ - 1.44 T$ , 1.512 T$ - 1.521 T$ 1.584 T$ - 1.5939 T$.
It is slightly bearish on 4H timeframe (invalidation if closes above 1.377 T$) whole other higher timeframes are still showing uptrend and bullish momentum.

Crypto Market Cap Excluding Bitcoin (Altcoins Marketcap) Analysis-
It is currently trading at 641.90B$ with strong resistance at 675 B$ then at 702 B$.
Again 4H timeframe is slightly bearish. Supports are 621 B$ , 603 B$ , 585 B$.

Bitcoin Marketcap analysis-
It is currently at 710.55 B$ with resistances at 729 B$-730.8 B$ , 742.50 B$ - 743.40 B$ , 756 B$ strong . And supports at 702 B$ weak , 684 B$ neutral , $655.20 B$ is strong support.

Conclusion for BTC is -
Bitcoin is slightly looking bearish on 4H timeframe with invalidation if closes above 37350$ on 4H. Also closing 1D close below 35100 will be more bearish and 1D close above 38250$ will be bullish.
Market is looking slightly bearish on 4H timeframe. Also Satoshi/BTC pairs are looking bearish as BTC dominance is going up slowly. December is usually a neutral month for BTC but in recent years it is slightly proved to be bearish so a proper monthly close should be studied at the end of this month for longer term position.