Current important levels to look out for (BTC weekly view)
even though in the 4h a clear supportive trendline was forming which indicates a support at around 95k (still) which was already tapped previously. the value area high of the recent big upmove sits at around 95k.
looking at the weekly view it is important to look if btc now is consolidationg between the past weeks high and low, or if it pushes through further. if not, I could see a crossing between the last low and the current, steeper trendline, at around 89.4 - although this crossing would come at march/april next year. either way I think this trend line will be respected further.
for an alt season to happen btc must either consolidate (until it hits the steeper trendline) or fall towards VAH of bullflag.
BTC dominance got rejected from the golden pocket and now moves towards the 50% fib which sits at around 57% dominance. the golden pocket mentioned corresponds with supports of the 20/21 double tops. an alt season would correspond with a fall towards 40%ish areas.
the arrow (yellow) I drew in just gives a rough estimate of the trajectory (in my view). altho, with enough positive news and momentum, it'll go right through 100k and extends the curve until it'll hit (possibly) the steep trendline again.
looking at the weekly view it is important to look if btc now is consolidationg between the past weeks high and low, or if it pushes through further. if not, I could see a crossing between the last low and the current, steeper trendline, at around 89.4 - although this crossing would come at march/april next year. either way I think this trend line will be respected further.
for an alt season to happen btc must either consolidate (until it hits the steeper trendline) or fall towards VAH of bullflag.
BTC dominance got rejected from the golden pocket and now moves towards the 50% fib which sits at around 57% dominance. the golden pocket mentioned corresponds with supports of the 20/21 double tops. an alt season would correspond with a fall towards 40%ish areas.
the arrow (yellow) I drew in just gives a rough estimate of the trajectory (in my view). altho, with enough positive news and momentum, it'll go right through 100k and extends the curve until it'll hit (possibly) the steep trendline again.
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