Bitcoin dominance is in a bearish trend. After a pullback to the red-marked area, it is expected to drop further, potentially reaching the green-marked zone.
This means that in lower timeframes, money in the crypto market can still flow from Bitcoin dominance into altcoins.
Letโs see how this plays out.
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BehDark (EN)
From previous analyses, we had a bullish outlook on Bitcoin. In this analysis, we have outlined the more complete pattern and updated the demand zones and targets.
The red zone was broken after a minor reaction, and Bitcoin's move is still valid.
Donโt forget who was talking about a new ATH when Bitcoin was in the red and everyone was hopeless!
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The structure of Tether dominance in higher timeframes is genuinely bearish, but in lower timeframes, it is approaching a key support level.
It is expected that the dominance will have a few reactions to this support before dumping.
During the next dump in Tether dominance, altcoins are expected to pump. Letโs see what happens.
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๐ดsell/short signal #PENGUUSDT
Entry range: 0.035614
Targets: 0.032018 _ 0.028859 _ 0.027157
Stop: 0.039673
Leverage: 2X _ 3X
Balance: 6% of capital
By #Jacob
Entry range: 0.035614
Targets: 0.032018 _ 0.028859 _ 0.027157
Stop: 0.039673
Leverage: 2X _ 3X
Balance: 6% of capital
By #Jacob
Forwarded from BehDark (VIP)
BehDark (VIP)
๐ดsell/short signal #PENGUUSDT Entry range: 0.035614 Targets: 0.032018 _ 0.028859 _ 0.027157 Stop: 0.039673 Leverage: 2X _ 3X Balance: 6% of capital By #Jacob
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BehDark (EN)
We identified an ABCDE structure in the previous analysis.
Currently, the structure remains the same, with only wave E appearing to be completed.
The price moved close to the first target from the previous analysis but was rejected. This rejection seems to mark the beginning of a new bearish wave.
Now, it is expected that either from this point or after a slight upward pullback, the price will enter a correction for wave D or another bearish wave.
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BehDark (EN)
After hitting the green zone, it pumped more than 8%, which caused a correction in Bitcoin and altcoins. This bullish move in Tether dominance may continue for now.
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BehDark (EN)
In previous analyses, we explained Ethereumโs possible movement scenarios. The red zone has been broken, price has pulled back to this area, and now it may move toward the recent top or even reach a new ATH.
The stop loss is a daily candle closing below the red zone.
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BehDark (EN)
After the pump and reaching the red box as per the previous analysis, the price has been strongly rejected. This path is being followed accurately.
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BehDark (EN)
After hitting our entry lines, it pumped more than 35% from the upper entry line, and the first target was reached.
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First of all, pay attention to the timeframe | itโs a higher timeframe and takes longer.
It seems that the price is in wave C of a bearish pattern. The price is trading below the supply zone, and in order to break this area, buy orders need to be accumulated.
It is expected that the price will move toward the green zone, where wave C may complete, and then we could see some recoveries from the price within the green zone.
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BehDark (EN)
Our previous analysis didnโt work out well and got invalidated. Now letโs see where the price stands.
After the weekly trigger line was broken and a key supply was cleared, most of the major market participants have been accumulating Ethereum. Considering the momentum and power of the previous bullish trend, we expect nearby supports to hold well and a large distribution phase to form.
In this phase, in order to fill the orders of big players and create a strong bullish outlook before a major correction, the price is expected to revisit the previous bullish wave or even hunt Ethereumโs all-time high.
As long as the green zone holds, we anticipate a price pump for Ethereum in the coming days.
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BehDark (EN)
According to the previous analysis, the price has reached the targeted supply. From here, candles will either drop, or after hunting the supply, the market seems likely to have another bullish wave since Tether dominance is showing another drop.
Letโs wait and see what happens.
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From the point where we placed the red arrow on the chart, it seems that the correction of the PUMP has begun.
It looks like we are inside a larger-degree ABC, where wave B was a symmetrical correction that has just completed, and we are now in wave C.
In the red-marked zone, we are looking for sell/short positions.
Targets are indicated on the chart.
A daily candle closing above the invalidation level will invalidate this analysis.
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BehDark (EN)
It seems that the strength of the range was not sufficient, and the price is expected to move downward once again.
We have updated the support zone. Upon reaching the specified area, we expect a short-term trend reversal.
Letโs wait and see what happens.
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BehDark (VIP)
๐ข Buy/Long Signal #SKLUSDT Entry range: 0.02988 Targets: 0.03409 _ 0.03782 _ 0.04081 Stop: 0.02716 Levrage: 2X Balance: 6% of capital By #Behdark
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BehDark (EN)
As we mentioned in the previous analysis, Bitcoin remains bearish, and our view has not changed.
We had considered two scenarios for Bitcoin, and both were bearish
Nothing has changed now either | from the current price or slightly higher, Bitcoin may see a serious correction. If the 103k zone is broken to the downside, Bitcoinโs price could correct down to the 93k area or even 86k.
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BehDark (EN)
In the previous analysis, we mentioned that the targeted supply might be hunted before a drop, and that move has already happened | this index dropped by more than 5%. We will be updating Tether dominance soon.
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