Ethereum reached the middle of June'22 dump wick. "Outperformed" my bearish expectations 😅
Last week RSI at 26.71 - getting into oversold zone, but yet far from PA confirmation of the bottom.
BTC dominance is at the bottom of week FVG left from April'21 and still capable to climb higher.
Overall the situation for majority of alts stay the same - they suck hard against BTC, although their USDT prices are being pushed up by same BTC. So that is not alts season in its classical understanding. Alts season will start once ETHBTC find the bottom + BTC.D starts correction + BTCUSDT starts moving sideway or have slow stable growth.
@WiseAnalyze #ETH #BTCdominance #dominance #ta
Last week RSI at 26.71 - getting into oversold zone, but yet far from PA confirmation of the bottom.
BTC dominance is at the bottom of week FVG left from April'21 and still capable to climb higher.
Overall the situation for majority of alts stay the same - they suck hard against BTC, although their USDT prices are being pushed up by same BTC. So that is not alts season in its classical understanding. Alts season will start once ETHBTC find the bottom + BTC.D starts correction + BTCUSDT starts moving sideway or have slow stable growth.
@WiseAnalyze #ETH #BTCdominance #dominance #ta
📉 Wise Analyze 📈
Ethereum reached the middle of June'22 dump wick. "Outperformed" my bearish expectations 😅 Last week RSI at 26.71 - getting into oversold zone, but yet far from PA confirmation of the bottom. BTC dominance is at the bottom of week FVG left from April'21…
BTC dominance going for the second breakout attempt through the FVG left from April'21. Next gap will be at 56.6-57.3% roughly. Next much bigger at 58.5-60.1%
In simple words breakout seems inevitable now. The destiny of alts is to go down against BTC within that breakout move. At last those that don't have their own trend.
@WiseAnalyze #BTCdominance #dominance #ta
In simple words breakout seems inevitable now. The destiny of alts is to go down against BTC within that breakout move. At last those that don't have their own trend.
@WiseAnalyze #BTCdominance #dominance #ta
BTC dominance is bouncing up in 2024. So far. November close at 53% is the nearest target for that bounce. After that either we will see it get rejected and alts pump more, or BTC.D returns to uptrend and establish above that level to continue growth.
💡Best spot for loading alts will be closer to 53%
@WiseAnalyze #BTCdominance #dominance #ta
💡Best spot for loading alts will be closer to 53%
@WiseAnalyze #BTCdominance #dominance #ta
📉 Wise Analyze 📈
Ethereum went up by ~12% since last post. From 4 hours it looks really overstretched. From week timeframe, if close anywhere above 2023, should be able to grow higher to 0.059 at least and from there pretty good chances to hunt for ~0.066 zone @WiseAnalyze…
Ethereum had a monster bounce on the second week of this year. Now volume dropping, so we may expect either correction or consolidation with dips before it grow higher.
BTC.D chart had the opposite price action (confirming that volume went mostly into Ethereum on expectations for ETH ETF in the near future). And same logic here - after such a strong impulse often opposite direction bounce happens. I wont try to guess how far it can bounce as basically the whole area of that dump is one large gap. Just keep that in mind as BTC.D bounce will surely suppress alts (at least those without strong uptrend).
@WiseAnalyze #ETH #ta #Dominance
BTC.D chart had the opposite price action (confirming that volume went mostly into Ethereum on expectations for ETH ETF in the near future). And same logic here - after such a strong impulse often opposite direction bounce happens. I wont try to guess how far it can bounce as basically the whole area of that dump is one large gap. Just keep that in mind as BTC.D bounce will surely suppress alts (at least those without strong uptrend).
@WiseAnalyze #ETH #ta #Dominance
📉 Wise Analyze 📈
Ethereum had a monster bounce on the second week of this year. Now volume dropping, so we may expect either correction or consolidation with dips before it grow higher. BTC.D chart had the opposite price action (confirming that volume went mostly into Ethereum…
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📉 Wise Analyze 📈
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Month candle 1 day till close and BTC dominance is showing intentions to breakout towards 57.2-59%
This can happen while BTC pump or dump - in both cases. But for alts those two scenarios have absolutely the opposite consequences.
@WiseAnalyze #ta #Dominance
This can happen while BTC pump or dump - in both cases. But for alts those two scenarios have absolutely the opposite consequences.
@WiseAnalyze #ta #Dominance