BTC.D has been in a clean uptrend inside an ascending channel for over 2 years.• The midline has consistently acted as a magnet, but BTC.D has recently detached from it and might be headed for another retest of the upper boundary.
• Unless major macro catalysts intervene, I expect no notable changes until the 72-73% key area, the same zone that triggered 2021's altseason.
Regarding altseason, this cycle isn't like previous ones. With millions of tokens today, dilution is real, and a full-blown altseason where everything pumps seems unlikely.
Instead, I expect selective rotation into quality projects, and that might actually make it easier to find real outperformance.
Note
BTC.D internal uptrend breakdown (1D).Watch the channel midline at 62% or the lower boundary at 58% for potential support.
Note
As expected, the BTC.D uptrend channel midline acted as support.Worth watching the ~65% area for the previous support trendline to potentially act as resistance.
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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.