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Yesterday, we closed as a bull hammer below resistance and below all EMA’s. Currently, we are forming a possible doji below resistance and below all EMA’s.
Currently, the OBV is showing convergence and the RSI is showing convergence but very oversold.
The market structure is bearish. For the trend to flip bullish we need a HL followed by a HH.
Chart 2: USDT Dominance (USDT.D)
Yesterday, we closed as a bear hammer at resistance and above all EMA’s. We are currently forming a possible doji below resistance and all EMA’s.
Currently, the OBV shows bullish divergence, and the RSI shows convergence but very overbought.
The market structure is bullish. To flip bearish we need a LL followed by a LH.
Chart 3: Altcoin Market (OTHERS.D)
Yesterday, we closed as a bear hammer below resistance and the 200 EMA. Currently we are forming a possible doji below resistance and below the 200 EMA.
Currently, the OBV shows bullish divergence, and the RSI shows convergence.
The market structure is bearish. For the trend to flip bullish we need to see a HL which we now have followed by a HH and a break above 7.2%.
Chart 4: BTC Dominance (BTC.D)
YesteToday, we closed as a bull hammer below resistance but above all EMA’s. Currently, we are forming a possible bear hammer below resistance but above all EMA’s.
Currently, the OBV shows bullish divergence on this move and the RSI shows bearish divergence with possible hidden bullish.
The market structure is bullish, but it’s hideous. For the trend to flip bearish we need to see LL’s followed by LH’s.
Since we have fallen below 94,380 (0.618 fibs) with no strong reaction from the bulls I have to believe that the top is in for BTC so treat any rallies as short term recoveries.
Just know that even though the top is in for BTC that doesn’t mean we can’t have a crazy alt season.
But for the alt season to kick off, we need BTC.D to drop off a cliff but until then we just have to sit and wait for confirmation.
We had the full moon last night and we possibly had the false move week beginning yesterday so I am expecting a possible rally with the alts for the next 2-3 weeks.
Patience is key: stay objective, control emotions, and trade the charts, not the hype.
See you all for tomorrows update!
⚠️ Disclaimer: This is not financial advice. I’m simply sharing my personal thoughts and market observations. Always do your own research and never risk more than you’re willing to lose.$BTC
Market news: The U.S. House of Representatives approved a funding bill to end the government shutdown; the bill will be sent to U.S. President Donald Trump for signature into law. [Odaily]
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