BTC, one more shake out.
Updated
BTC futures will close today which could allow for one more shake out towards the 38.2% Fibo retracement level around $53725 following yesterday's failed break above $59615. The RSI is also driving into a wedge near the oversold range and looks set to rise from the bottom of the current upward channel.
USDT dominance looks set to fall further which is also positive for BTC.
The leverage ratio is also rising which is positive for BTC: cryptoquant.com/overview/btc-market-indicator/8529?window=day
But is it alt season, though. I believe the answer is yes. BTC market dominance failed to break above % at the end of October and another leg lower is definitely on the cards. I'm stacking up on alts this weekend if BTC falls into the above mentioned greenzone on the BTC chart.
USDT dominance looks set to fall further which is also positive for BTC.
The leverage ratio is also rising which is positive for BTC: cryptoquant.com/overview/btc-market-indicator/8529?window=day
But is it alt season, though. I believe the answer is yes. BTC market dominance failed to break above % at the end of October and another leg lower is definitely on the cards. I'm stacking up on alts this weekend if BTC falls into the above mentioned greenzone on the BTC chart.
Note
We are in the buy zone!Note
Bitcoin bears are getting greedy
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