Bitcoin is being in consolidation phase from the last 7 to 10 days which has been in range bound from 96,000 to 98,000.
We have seen in couple of days that volatility has decreased and the price has got much stable.
This is somehow good news for the altcoins because if Bitcoin will continue to be stable at its price. Bitcoin dominance will start decreasing and in the same way altcoin season will go to start.
There is still a worry for the bearish trend and that is the ongoing war between Russia and Ukraine.
They are now threatening each other that they will fire atomic bomb on each other.
This is really not a good news and this war may spread throughout the world and we may see a Third World War happen.
This will be the struggle for Bitcoin either to surpass the 100K mark or will it go below 90K towards downside.
There are three FVGS in the downside which it will go to test any of them. The last FVG which is formed on the chart is at 73,000. This will be around 15 to 20% decline.
According to the latest news from CNN, we see that Putin threatens to strike Ukraine again with new missiles after a wave of attacks on energy.
This is surely not a good news and it will put a bad impact on the financial markets, including crypto market.
Therefore, there is more chance for Bitcoin to change its trend and take some correction.
Therefore, you guys are advised to take your precautionary measures while trading and investing.
THANK YOU!
