Good evening to all my friends. I hope you all are doing well. I am having a fantastic day. Let's talk about crypto market. Bitcoin dumped from 98k and now trading above 96k. Btw today i am going to discuss about Ethereum, altcoins, and the potential end of a 1,000-day downtrend for altcoins against Bitcoin. Bitcoin recently confirmed a golden cross on october 27, when the 50-day moving average crossed above the 200-day moving average, leading to a 50% surge in price. Historically, such Golden Crosses have triggered rallies, as seen in 2023, 2021, and during the COVID period. Ethereum, however, is yet to form a Golden Cross on its daily chart, but I believe it’s likely to happen soon. Once confirmed, Ethereum could follow its historical pattern of strong rallies—such as the 112% surge in November 2023 and 35% recovery in February 2023—marking the start of a bullish phase.
Altcoins are also showing signs of strength as Bitcoin dominance breaks below its 4-year support trendline, signaling a potential shift in market dynamics. On the monthly RSI chart, altcoins are breaking out of a 1,000-day resistance line, similar to a past setup that led to a 600% rally. These developments could allow altcoins to outperform Bitcoin in the coming days. I recommend keeping an eye on confirmations like Ethereum’s Golden Cross and Bitcoin dominance breakdown to stay ahead of market trends. Stay focused on the news around crypto market. That's it for today. Here's the latest update video of crypto market. Thanks & have a good day!!
@abfarhan