BlockBeats News, November 26th, Delphi market analysts analyzed the current bullish and bearish structure forming in Bitcoin:
· In a bullish scenario, the current trend is seen as an ABC corrective pullback, which needs to complete fully and break above $103,500 to be confirmed.
· In a bearish scenario, if the current rebound forms a lower high below $103,500, it will trigger the next downward wave to complete a full 5-wave impulse down structure before experiencing a larger and more sustained rebound.
The stablecoin indicator is also worth noting. The USDT market dominance is breaking out of a long-term downtrend, while its supply is contracting on the weekly chart, which is typically not the ideal background for the arrival of a sustained uptrend.
