Bitcoin Daily (1)
- Bitcoin is pushed down by the 55 day EMA (blue), after we had a rejection at the 21 day EMA (yellow)
- however, the 200 day EMA (grey) is approaching quite fast and we'll have to see if we find support there or not -> it will indicate how the market will continue in the next quarter
- the MACD Histogram is stagnant lately, meaning that the bears are still around but are not aggressive
- the RSI broke the support trend line at around the 45 mark and we just found resistance there, currently heading lower again, but with no bullish divergences
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Bitcoin Daily (2)
- we're about to enter the Ichimoku Cloud for the first time since the uptrend started; let's see if the lower area of the cloud will hold us
- we had a brief rejection at the Tenkan (blue) and later further rejections at the Kijun (red)
- the OBV is still holding the descending triangle pattern and as I said in previous posts, usually the OBV is the first to break the support and leads the way
- the trading volume is also decreasing these days, which is bad for us
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Bitcoin Dominance (weekly)
- Bitcoin is reaching super highs again (+60%), highs that we didn't reach since 2017
- in December 2017, the 60% marked the beginning of the Altcoin season, but this time it seems to be different. We broke the 200 weekly MA (grey) and could go even higher
- however, the Altcoin season will probably happen "overnight" like it happened before: BTC will lose 50% of its current dominance in a matter of weeks, whereas the rest of the coins will surge again
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