On the weekly timeframe, bitcoin:native 200-week Moving Average continues to serve as a major long-term support level.
We may have already seen the bottom in the $56k–$59k zone.
The only time price meaningfully broke below the 200W MA in recent cycles was during the FTX crash, when it dipped roughly 15% below the average.
If we see a similar deviation during any major event, the “pure” bottom would sit around $49,888.
In a true black swan scenario, the $38k–$40k zone would be an extremely strong accumulation area, though this remains highly unlikely.
OTHERS.D Crypto Total Market Cap Excluding Top 10 Dominance has bottomed with a bullish divergence on the 2W timeframe. Now price is testing the trendline that has held as resistance since the Jan 2022 top for this group of altcoins. If it breaks and holds above this trendline on the 2W timeframe, then I think altcoins not in the Top 10 will fly.
Look out for altcoins not in the top 10 forming bullish divergences on their $BTC pair on 2W timeframe and above for long term holds.
The goal is to outperform $BTC in any given scenario.
Time to lock in, capital rotation has begun.
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