BTC.D: Critical Triangle Breakdown | Alt Season Signal?
Current: 57.98% |
Pattern: Large descending triangle since November peak
Technical Analysis:
1. Macro Structure
- Multi-month descending trendline resistance
- Double rejection at 60% level
- Key support at 56% zone
- Volume profile decreasing in consolidation
2. Key Levels
- Major resistance: 60%
- Current resistance: 58%
- Critical support: 56%
- Target zone: 52-54%
3. Signals
- Triple rejection at descending line
- Volume decreasing in triangle
- Weak bounces from support
- Bearish RSI divergence forming
Trading Scenario:
- Targets:
T1: 56% (initial support)
T2: 55% (measured move)
T3: 54% (max target)
Market Implications:
- BTC.D drop typically signals alt season
- Monitor top 10 alts for rotation
- ETF approval could affect dominance
DYOR - Not financial advice. High-risk market period with ETF decisions approaching. Size positions accordingly.
Pattern: Large descending triangle since November peak
Technical Analysis:
1. Macro Structure
- Multi-month descending trendline resistance
- Double rejection at 60% level
- Key support at 56% zone
- Volume profile decreasing in consolidation
2. Key Levels
- Major resistance: 60%
- Current resistance: 58%
- Critical support: 56%
- Target zone: 52-54%
3. Signals
- Triple rejection at descending line
- Volume decreasing in triangle
- Weak bounces from support
- Bearish RSI divergence forming
Trading Scenario:
- Targets:
T1: 56% (initial support)
T2: 55% (measured move)
T3: 54% (max target)
Market Implications:
- BTC.D drop typically signals alt season
- Monitor top 10 alts for rotation
- ETF approval could affect dominance
DYOR - Not financial advice. High-risk market period with ETF decisions approaching. Size positions accordingly.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.