I haven't posted the most important crypto ticker for the altseason in a few days, which I consider #BTC.D , so here we go.
The DAILY is still bullish with a falling wedge breakout (looking a bit weak already) targetting 62%, so I will simply look into shorter timeframes, 4-hr first.
First of all, the HEAD & SHOULDERS pattern is NOT text-book anymore, some traders wouldn't even call it H&S due to the right shoulder being nearly as high as the head.
That doesn't matter to me, these are just names, what really matters that the UPTREND has been in trouble. We're still seeing higher lows but, unless we close a strong candle above the two previous highs (59.3%+ is required), there is a great chance of a TRIPLE TOP.
Triple top in confluence with persisting RSI momentum divergences, two in a row in the making, which is basically a confirmation of dying momentum.
Still, this is WAVE 5 (the current wave upwards) and these can extend and overextend. Hopefully not, for the sake of our coins.
Too early to call for the
BTC dominance chart to crash, but the ingredient are definitely ready.
Breaking below 58.6% would be huge, to cross below the (light-blue zone) support zone and to make a lower low.
That's when I will open quite a few longs on altcoins. HOURLY timeframe analysis - next post💙👽
The DAILY is still bullish with a falling wedge breakout (looking a bit weak already) targetting 62%, so I will simply look into shorter timeframes, 4-hr first.
First of all, the HEAD & SHOULDERS pattern is NOT text-book anymore, some traders wouldn't even call it H&S due to the right shoulder being nearly as high as the head.
That doesn't matter to me, these are just names, what really matters that the UPTREND has been in trouble. We're still seeing higher lows but, unless we close a strong candle above the two previous highs (59.3%+ is required), there is a great chance of a TRIPLE TOP.
Triple top in confluence with persisting RSI momentum divergences, two in a row in the making, which is basically a confirmation of dying momentum.
Still, this is WAVE 5 (the current wave upwards) and these can extend and overextend. Hopefully not, for the sake of our coins.
Too early to call for the
BTC dominance chart to crash, but the ingredient are definitely ready.Breaking below 58.6% would be huge, to cross below the (light-blue zone) support zone and to make a lower low.
That's when I will open quite a few longs on altcoins. HOURLY timeframe analysis - next post💙👽
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.