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BTC.D saw a strong move after reclaiming the wedge pattern, leading to a market-wide correction, as anticipated. It is now approaching the resistance trendline of the wedge once again.
A rejection at this level could indicate a potential shift in momentum back toward altcoins. However, if BTC.D breaks out above the wedge, the pattern would be invalidated, possibly signaling continued pressure and further correction in the altcoin market.
BTC.D has failed the retest and has once again reclaimed the rising wedge pattern. This is a key area to monitor closely, as a potential bounce from here could have significant implications.
It's important to note that BTC.D typically moves inversely to the altcoin market cap, so any further developments may impact alt performance accordingly.
XRP surged following the breakout and successful retest of the triangle pattern. The next key level to watch is the marked horizontal resistance, which needs to be broken and retested for confirmation of the uptrend continuation.
$BTC failed to hold above the 100 EMA after a retest and is now trading below it again. However, the price remains above the ascending trendline and the Point of Control (POC) level.
A breakout and successful retest of the triangle pattern would serve as bullish confirmation, while a rejection followed by a breakdown and retest of the triangle would confirm a bearish scenario.
Bitcoin Clearly range bound on HTF. Range low at 100.5k and Range high at 106k.
During weekend and yesterday BTC tried to breach above range high, two failed attempts and acceptance back into range. This means very high probability BTC will take a stab at the range lows, sweeping 100k before next leg higher.
That being said on LTF, H2 FVG at 104.5k remains critical to determine short term direction as marked on chart.