🚨🔥🌟 A Quick Look At The Crypto Markets ~ 20/05/25
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✨️ BTC
After a strong Sunday performance and a volatile Monday, $BTC:$105,567.00 closed the day with a long-wicked candle. Today, we’ve seen Bitcoin pushing higher, touching $106.5 resistance level. While volume is declining, I’m looking for BTC to turn $105 level into support and perhaps if the NY stocks continue strongly, we might see a break on the upside and a push toward a new ATH.
🔹️BTC Dominance
The Bitcoin dominance has been steadily rising, giving altcoins some trouble. The green area here is one to watch. Bouncing from it would mean more pain for alts (especially if BTC gets rejected), breaking the support will create a lower low, indicating interest toward alts.
💫 USDT Dominance
I use this chart together with BTC.D to try to anticipate whether there’s some relief coming in for altcoins. At the moment, USDT.D seems to be ranging or slightly in an upward trend. Investors are still cautious.
A break below 4.5% would make me more interested in alts again.
The price of ETH on a 4-hour chart is still downtrending, although it seems to be breaking the descending trendline. To validate the shift in trend, ETH needs to create a higher high (above the green zone) and a higher low after that.
Even if you aren’t directly invested in ETH, it’s good to keep an eye out for its performance. If ETH does well, it’ll eventually lead to other alts performing well and perhaps even triggering an altseason.
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