CryptoCapo TG
Current market situation: BTC reclaimed 60k, which is bullish. Now the next bullish confirmation would be a clean reclaim of 69k + the descending channel which would break the structure of lower highs. As long as BTC keeps forming higher lows from here…
$BTC - Taking it simple
- First bullish confirmation: clean reclaim of $62k = $69k-70k likely
- Second bullish confirmation: clean reclaim of $69k-70k = Main target ($75k-80k) likely
In the meantime, ignore short-term pullbacks and remember the principles posted yesterday.
Have a nice weekend!
- First bullish confirmation: clean reclaim of $62k = $69k-70k likely
- Second bullish confirmation: clean reclaim of $69k-70k = Main target ($75k-80k) likely
In the meantime, ignore short-term pullbacks and remember the principles posted yesterday.
Have a nice weekend!
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There hasn't been much movement this weekend. Just a pullback, which was either to be ignored or to buy more. We should see bullish continuation soon.
I hope you had a good weekend, and let's have a great week!
I hope you had a good weekend, and let's have a great week!
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CryptoCapo TG
$BTC - Taking it simple - First bullish confirmation: clean reclaim of $62k = $69k-70k likely - Second bullish confirmation: clean reclaim of $69k-70k = Main target ($75k-80k) likely In the meantime, ignore short-term pullbacks and remember the principles…
$BTC update
After a clean breakout of the $62k level, we are seeing an expected pullback.
Right now it's testing the last swing high as support. Fundings are very negative, especially for altcoins.
Bullish continuation is just a matter of time.
After a clean breakout of the $62k level, we are seeing an expected pullback.
Right now it's testing the last swing high as support. Fundings are very negative, especially for altcoins.
Bullish continuation is just a matter of time.
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CryptoCapo TG
$BTC update After a clean breakout of the $62k level, we are seeing an expected pullback. Right now it's testing the last swing high as support. Fundings are very negative, especially for altcoins. Bullish continuation is just a matter of time.
$BTC - Zoomed in
Clean S/R flip.
Clean S/R flip.
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Altcoins are holding much better than Bitcoin, which is a sign of strength in my opinion.
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GM
The first support zone didn't hold. It's important that we see a bounce soon, so this is still a higher low.
Nothing to worry about yet. Same plan.
The first support zone didn't hold. It's important that we see a bounce soon, so this is still a higher low.
Nothing to worry about yet. Same plan.
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$60k reclaimed. Good first step. Now we have to see a reclaim of $62k for bullish continuation.
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#ALTCOINS htf overview
Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend.
We can see how the altcoins market cap index is forming lower highs and lower lows (chart 1). It is now testing a major support zone (blue zone). If this support holds, we should see a bounce soon. However, it’s important to have bullish confirmations for a trend reversal. The first one would be a clean break of the trendline that connects the lower highs. The second confirmation would be a reclaim of the dark zone, around 240-250B.
In chart 2, we can see how there was a similar correction in May-July 2021. After that, the market went on to new highs. That correction was shorter in time but more aggressive in price, shaking out most investors/traders. We’re currently seeing something similar. This correction has been hard for many, exhausting their hopes.
Lastly, the altcoin dominance (OTHERS.D, chart 3) is showing similar patterns to when the real altseason started in late December 2020.
Personally, I’m still adding exposure to altcoins that look promising. Only spot, no leverage yet until we see bullish confirmations. That’s the plan for now. If the main support levels don’t hold and the market doesn’t show strength in the coming days, I’ll start reducing exposure.
Let’s see what awaits us.
Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend.
We can see how the altcoins market cap index is forming lower highs and lower lows (chart 1). It is now testing a major support zone (blue zone). If this support holds, we should see a bounce soon. However, it’s important to have bullish confirmations for a trend reversal. The first one would be a clean break of the trendline that connects the lower highs. The second confirmation would be a reclaim of the dark zone, around 240-250B.
In chart 2, we can see how there was a similar correction in May-July 2021. After that, the market went on to new highs. That correction was shorter in time but more aggressive in price, shaking out most investors/traders. We’re currently seeing something similar. This correction has been hard for many, exhausting their hopes.
Lastly, the altcoin dominance (OTHERS.D, chart 3) is showing similar patterns to when the real altseason started in late December 2020.
Personally, I’m still adding exposure to altcoins that look promising. Only spot, no leverage yet until we see bullish confirmations. That’s the plan for now. If the main support levels don’t hold and the market doesn’t show strength in the coming days, I’ll start reducing exposure.
Let’s see what awaits us.
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The market is reacting positively to today's employment data in the US.
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Not enough strength yet. We have to see a reclaim of $58.5k at least.
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CryptoCapo TG
#ALTCOINS htf overview Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend. We can see how the altcoins market cap index is forming lower…
In addition to this post.
Altcoins are starting to show strength against BTC.
Altcoins are starting to show strength against BTC.
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It’s not easy holding through a correction, but I believe those who can stay patient and disciplined will be in a strong position when the market turns.
Good night!
Good night!
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