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CRYPTO MECHANIC
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Above $100k - Still Bullish
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$ENA Almost at All time lows. This is why i always say don’t marry your bags, These altcoins aren’t loyal
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The only Bullish argument i see for Altcoins is holds the lows Alts marked in April. We had lows and should be creating higher lows somewhere above the april low. This will bring at least the mini Altseason that you have been waiting for a decade. Screenshot and charts are attached for your better understandings.
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The most downside on Altcoins was triggered by this war news. Because people trade or Hold altcoins the most and they panicked on these. Bitcoin is mostly held by Institutions , Saylor, Blackrock or people who don't want to sell. This is why its holding relatively stronger than the rest of the market.
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$1.900 is the line of defence for $XRP Had multiple bounces from this area, A lot of bag holders from this zone. Once price lose this i think a lot of them will start to capitulate. Worth keeping an eye on.
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This was me telling you "Alts are weak" on two different dates. Most are down 30% on average. This is not the bad part, The bad part is, These things are still not showing any signs of life.
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