BTC is losing 50k support, making lower highs, bearish volume , ALTs are dormant but BTC dominance is holding 40% support for now.
S&P500 strong but also DXY strong = mixing signals.
As per chart, 2 possible scenarios are coming:
1. green line - retest of demand zone for BTC 37k-42k or just more swinging time while ALTs drop and Dominance climbs - and then a clear pump and breakout of the down trend towards 50k-55k
2. red line - bearish pattern continuation with a fake breakout and then a further crush towards demand zone 37k-42k.
Trade safe, avoid high leverage.
CCC.io
S&P500 strong but also DXY strong = mixing signals.
As per chart, 2 possible scenarios are coming:
1. green line - retest of demand zone for BTC 37k-42k or just more swinging time while ALTs drop and Dominance climbs - and then a clear pump and breakout of the down trend towards 50k-55k
2. red line - bearish pattern continuation with a fake breakout and then a further crush towards demand zone 37k-42k.
Trade safe, avoid high leverage.
CCC.io