Cryptocurrency Market Analysis - Here's My Take
In the Daily, while being bullish in the last month, Bitcoin is showing signs of reversal.
I am talking mainly about the divergences we can see in the oscillators, and the sideways action we have been through the last few days.
Diving into the hourly. I like to put ETH/BTC next to the BTC/USD chart, because Ethereum has always been an ALT market catalyst. Here while BTC was moving sideways, ETH climbed around 9% in one week.
Looking at the USDT markets, we are starting to see reversal signals amongst key leaders. Players are taking profit.
Meanwhile on the BTC markets, well... things could be just getting started.
What makes me think that is the +6 weeks decreasing Bitcoin Dominance and the increasing ALTs Market Cap.
This is not financial advice, just an idea.
I am talking mainly about the divergences we can see in the oscillators, and the sideways action we have been through the last few days.
Diving into the hourly. I like to put ETH/BTC next to the BTC/USD chart, because Ethereum has always been an ALT market catalyst. Here while BTC was moving sideways, ETH climbed around 9% in one week.
Looking at the USDT markets, we are starting to see reversal signals amongst key leaders. Players are taking profit.
Meanwhile on the BTC markets, well... things could be just getting started.
What makes me think that is the +6 weeks decreasing Bitcoin Dominance and the increasing ALTs Market Cap.
This is not financial advice, just an idea.
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I am taking PineScript Commissions ✔
=> blockchainfiesta.com/contact/