I don't know if you remember what I said, when this type of divergence occurs between $ETH (higher and older alts) and $BTC (lower), because it is happening.
You're welcome.
$BTC
We had the rejection ✔️
If you’ve seen my previous CPI post, you’ll know that the market tends to either rally into CPI or dump into it. Because of that, there’s a chance we could revisit this grey box area multiple times.
If we form a bullish narrative into CPI, we can see a reversal to the downside afterwards. A bearish narrative, on the other hand, would suggest we could see an inverse move up.
Right now, it’s still 50/50, but, we’ve rallied into CPI and then reversed 5 out of 5 times. So it’s worth being prepared in case that pattern repeats.
$BTC
Binance spot selling is a big driver. Their CVD is dumping hard while the other majors are barely negative, which means the pressure is not broad right now. It is concentrated.
If this flow keeps up, price stays heavy until Binance stops hitting bids. If it slows, the rest of the market is potentially positioned for a relief bid.
104.5k is the key level here, previous pivot and now aligned with GEX resistance. GEX Support has shifted down toward 100k.
Sentiment is in the gutter, yet price is still above 100k. It's so surprising, but I guess when you don't get high beta prolonged pumps the main crypto audience leaves.
If in the next cycle you find yourself calling for new lows every month after the bear market ended..
You might be a faggot.
You need to pivot from that.
$ETH
For me we have very high probability that this wave 4 is bottomed as we hit almost to the $ the pitchfork support.
I still think ETH will Viti the red mid line later on.
$BTC rejected as suggested but I'm not sure about the rest. Might hold here too since it swept those RBR lows. Either way it's time to start bidding your favorite alts. I'm eyeing some entries but not rushing.
$ETH is showing some bounce back after this week's crash.
The pump isn't looking strong, as the rally is primarily driven by shorts being closed.
Until Ethereum reclaims the $3,600-$3,700 zone with strong inflows, the chances are it'll go lower.
It has reached the level I marked. If it consolidates here, I will consider going long; otherwise, I will stay on the sidelines and observe.
$BTC simple strategy