Here’s a chart to keep an eye on. If the Market Cap USDT Dominance drops below the orange zone, it’ll be party time in Crypto land! However, if it finds support in this zone and starts rising again, the bear market will continue for a while longer!
https://t.co/8mRi5ocMcy
Here’s a quick technical analysis of the Crypto Total Market Cap Excluding BTC and ETH (NFA).
This is shaping up to be an exciting month for the altcoins. For now (we still have 25 days to go), we’ve found support at the 1 SSB (Senkou Span B), but we’re currently facing resistance at the 1M Tenkan Sen (blue dotted line). This resistance is also clearly visible in the RSI, where it’s touching the white line. If we do manage to break through the Tenkan Sen, the next resistance level will be the 1M Kijun Sen (red dotted line). If things really take off and we break through the 1W SSB, I expect resistance at the white dashed line.
This would make Cycle vi an RT (right-translated) cycle. In all previous RT cycles, a peak was reached in the 14th or 15th month.
But first, let’s see how this monthly candle closes 🤞
https://t.co/UyF2p1Ui8O
What will it be for bitcoin:native? (NFA)
If the bearish scenario plays out, this will be very bad for BTC and Cycle IV will most likely be LT, and this all could end up very ugly for BTC.
If the bullish scenario plays out, Cycle IV still can be LT, but if it can hold the 60K level, it can go higher. Ultimately, after three RT Cycles I, II and III, BTC can't just keep creating RT Cycles!
https://t.co/bGNNIgAIek