BTC Inches Higher but Faces Overhead Pressure
Bitcoin (BTC) is gradually approaching a critical resistance level near $109,000, though market confidence in a breakout remains subdued. Traders are cautiously monitoring for potential rejection at this level, with some opening small short positions as a hedge.
Meanwhile, Ethereum (ETH) remains confined within its daily TBO Cloud, accompanied by declining trading volume—a sign of weak momentum. If BTC faces rejection at resistance, ETH could drop to its next support level at $2,188.
Bearish Signals Multiply Across ETH and Altcoins
- ETH/BTC Pair: A TBO Open Short signal has emerged, reinforcing bearish sentiment.
- Stop-Loss Hunting: Active alerts indicate increased downward pressure on ETH.
- BTC Dominance: Reached a new local high of 66.01%, further squeezing altcoins.
Despite the daily RSI hovering above 70, BTC dominance shows no signs of weakening, maintaining a bullish structure across both daily and weekly charts.
Dominance Charts Reinforce Bearish Macro Trends
- BTC Dominance: Must print a TBO Close Long before altcoins can recover.
- Altcoin Dominance: Both Top 10 and OTHERS categories remain at support levels with no reversal signals.
- Total Crypto Market Cap: Stuck in bearish consolidation inside the daily TBO Cloud.
👉 Why BTC Dominance Matters for Altcoin Traders
DXY Breakdown Fuels TradFi Rally
The Dollar Index (DXY) continues its decline, boosting risk-on assets:
- S&P 500: Back at all-time highs.
- NDX: Second TBO breakout at the 1.618 Fib extension.
- FANG Index: Targeting the 1.272 extension.
- NVDA: Three consecutive daily TBO breakouts, hitting new ATHs.
Asian Markets Join the Momentum
- Nikkei: Preparing for a second daily TBO breakout; weekly RSI above 70.
- Shanghai Index: Confirming strength with its own TBO breakout.
Trading Strategies Amid Crypto Uncertainty
- Identify Long-Term Support Zones: Watch key levels like SUI’s $1.9626 for potential entries if BTC rejects resistance.
- Springboard Bounces: Coins like BCH may rebound near TBO Fast lines.
- Wait-and-See Approach: Until BTC clarifies its direction, conservative positioning is advised.
👉 Mastering Crypto Market Cycles
FAQ
Q: Will altcoins recover if BTC dominance drops?
A: Yes, a decline in BTC dominance typically signals capital rotation into altcoins.
Q: What’s driving the TradFi rally?
A: Falling DXY and strong institutional inflows into tech and growth stocks.
Q: Is now a good time to buy ETH?
A: Not until ETH/BTC shows bullish reversal signals or holds key support levels.
Disclaimer: This content is for informational purposes only and not financial advice. Always conduct your own research before trading.