Hello, guys. How are you all? This is your Captain here. Hope you all are enjoying the show. ETH just showed what's coming ahead for alts. Now if you're wondering whether you'll get an opportunity of buying or not, then you should check this post.
Alright, let's get started.
BTC.D : It just pierced through a trendline (check 1st screenshot) that has been held since 5th September, 2022. But no bearish retest so far. So, I'm expecting a bearish retest of this trendline and then continue the downtrend. That bearish retest will be your buyzone for alts. However, a daily candle closing above this trendline will be highly bearish case for alts.
TOTAL3 : The moment of truth we'll have been waiting for. The bull flag resistance (check 2nd screenshot) that has been tested for 5 times is now broken. Today, it’s doing a bullish retest here. As long as this index keeps closing its daily candles above this line, I'm expecting 1.15T to get hit, atleast.
USDT.D : It's making an head & shoulder pattern (check 3rd screenshot) on daily timeframe, which is bearish. Right shoulder is yet to be made. So, I'm expecting a bounce from here which will be actually a bearish retest of the broken trendline that has been held since 24th June, 2019 and then continue the downtrend. However, daily candle closing above the trendline will be invalidation.
So, all in all, I'm expecting a mini altseason till THE NEW MOON which is on 23rd August. Today is weekend. We'll get clear direction in the next two days. Till then, buy every dip.
