On Dec. 27th BTC has only managed to set a new local high before getting a hard rejection. We also did not hold 49k area (blue box), not even 48k (orange box), which was a local low set a day prior (26th). This is a definitely a sign of weaknes, therefore i am expecting that we will not revisit 55k (yellow box) area and are just going into final capitulation.
As for the alts.. btc dominance keeps falling and is expected to fall even further. What this could mean is that this last capitulation could impact btc more than alts.
Usually heading into a new year means bullish for alts and crypto in general.
I coulb be wrong and we could still trade sideways for a while, it is just that it is a bit more likely for a price to capitulate after getting rejeted that far. Just my opinion.
After we capitulate i still expect slow retracement so this grey arrow is a bit to steap.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
BTCUSDT
As for the alts.. btc dominance keeps falling and is expected to fall even further. What this could mean is that this last capitulation could impact btc more than alts.
Usually heading into a new year means bullish for alts and crypto in general.
I coulb be wrong and we could still trade sideways for a while, it is just that it is a bit more likely for a price to capitulate after getting rejeted that far. Just my opinion.
After we capitulate i still expect slow retracement so this grey arrow is a bit to steap.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
BTCUSDT
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