masuaRR
High-Frequency Trader
4.6 Years
4 Following
28 Followers
23 Liked
0 Shared
See original
Analysis of BTC Dominance.
The weekly chart shows a breakout from the global uptrend channel that has been in place since 2023. Bearish divergence on the MACD and RSI is already in the active phase of working off, with both indicators rolling closer to the negative zone, making the scenario of medium-term downward pressure relevant. The full target for the formation and divergence is indicated around 47-50%, which remains the key medium-term goal.
📉 1D (local context):
After breaking the lower boundary of the channel, the price is consolidating in the range of 59-60%. Bullish divergences have appeared on the MACD and RSI here, which could provide a technical bounce. However, considering the weekly picture, such movements remain temporary pauses in the downward scenario. I expect a slight pullback up to 60.5-61% or to the RSI level of 48-50, which acts as resistance, followed by a downward move along the weekly trend.
On the daily chart, a local bounce is possible thanks to the divergences. For the week, the priority remains with the bearish scenario with targets of 47-50%. For altcoins, this means increased volatility; short-term spikes upward in dominance may lead to a downward move for them, but medium-term, the trend indicates a redistribution of capital in their favor.
$BTCDOM #BTCDOMINACE #Altseason #CryptoAnalysis
The weekly chart shows a breakout from the global uptrend channel that has been in place since 2023. Bearish divergence on the MACD and RSI is already in the active phase of working off, with both indicators rolling closer to the negative zone, making the scenario of medium-term downward pressure relevant. The full target for the formation and divergence is indicated around 47-50%, which remains the key medium-term goal.
📉 1D (local context):
After breaking the lower boundary of the channel, the price is consolidating in the range of 59-60%. Bullish divergences have appeared on the MACD and RSI here, which could provide a technical bounce. However, considering the weekly picture, such movements remain temporary pauses in the downward scenario. I expect a slight pullback up to 60.5-61% or to the RSI level of 48-50, which acts as resistance, followed by a downward move along the weekly trend.
On the daily chart, a local bounce is possible thanks to the divergences. For the week, the priority remains with the bearish scenario with targets of 47-50%. For altcoins, this means increased volatility; short-term spikes upward in dominance may lead to a downward move for them, but medium-term, the trend indicates a redistribution of capital in their favor.
$BTCDOM #BTCDOMINACE #Altseason #CryptoAnalysis
See original
#BTC $BTC The weekly timeframe confirms the break of the April trend line.
This week the picture is even tougher, a bearish hammer has formed under the zone of 118-119k, and the April slope has been broken. As long as the week closes below 116.5 - 118k, any rise into this range is just a retest of the broken structure and a zone for short accumulation, not a reversal.
Resistances (green):
115,800 - the first local barrier
117 - 117.5k - the breakout level of the trend line (I expect active defense)
118 - 120k - a key zone on the weekly timeframe + a volume shelf VPVR 116 - 118k.
Supports / intermediate targets for decline (orange):
114,800 is currently being held on lower timeframes and we get a slight bounce
112,200 - 112,800 is a key support zone for bulls
110.5k - the full target for the decline to close the imbalance.
Invalidation of the bearish scenario: Only a weekly close above 120k or a series of 3 or more daily closes above 120k. But for now, there is no hint of this and it is too early to talk about it.
Priority is on short, the structure is broken on the daily and confirmed by the weekly timeframe. Bounces to 116.5 - 118k are working points for adding/re-entering, targets for decline: 114.8 - 112.2 - 112.8 - 110.5k. Manage risk and do not overstay bounces against the plan.
This week the picture is even tougher, a bearish hammer has formed under the zone of 118-119k, and the April slope has been broken. As long as the week closes below 116.5 - 118k, any rise into this range is just a retest of the broken structure and a zone for short accumulation, not a reversal.
Resistances (green):
115,800 - the first local barrier
117 - 117.5k - the breakout level of the trend line (I expect active defense)
118 - 120k - a key zone on the weekly timeframe + a volume shelf VPVR 116 - 118k.
Supports / intermediate targets for decline (orange):
114,800 is currently being held on lower timeframes and we get a slight bounce
112,200 - 112,800 is a key support zone for bulls
110.5k - the full target for the decline to close the imbalance.
Invalidation of the bearish scenario: Only a weekly close above 120k or a series of 3 or more daily closes above 120k. But for now, there is no hint of this and it is too early to talk about it.
Priority is on short, the structure is broken on the daily and confirmed by the weekly timeframe. Bounces to 116.5 - 118k are working points for adding/re-entering, targets for decline: 114.8 - 112.2 - 112.8 - 110.5k. Manage risk and do not overstay bounces against the plan.
See original
#BTC $BTC The April diagonal trend line has been broken, it remains to consolidate below 116.5k and at the moment there are no questions regarding this, bears are consistently pushing the chart down without any bounces on lower timeframes. Now the April trend line will act as resistance during any bounce, and if it occurs, I consider the 116-118k zone only as a temporary weakness of the bears.
Resistances (green):
115 800
117 - 117.5k breakout level of the trend line
Supports / intermediate targets below (orange):
114 800
112 200 - 112 800 key support zone, last bounced there
110 500 - full target of the diagonal breakout with closing imbalance
For now, the chart maintains a short priority, as long as the price is below the diagonal and 118k, any bounces into the 116-118k zone are seen as an opportunity to enter a short. The April trend line is broken, it remains only to consolidate with a daily candle close below 116.5k, ideally for the bears below 115 800. Now any attempt to rise hits the retest of the diagonal and the volume shelf by VPVR 116-118k.
Resistances (green):
115 800
117 - 117.5k breakout level of the trend line
Supports / intermediate targets below (orange):
114 800
112 200 - 112 800 key support zone, last bounced there
110 500 - full target of the diagonal breakout with closing imbalance
For now, the chart maintains a short priority, as long as the price is below the diagonal and 118k, any bounces into the 116-118k zone are seen as an opportunity to enter a short. The April trend line is broken, it remains only to consolidate with a daily candle close below 116.5k, ideally for the bears below 115 800. Now any attempt to rise hits the retest of the diagonal and the volume shelf by VPVR 116-118k.
Login to explore more contents