The support band consists of two indicators: the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). While Bitcoin recently experienced a weekly close below the 20-week SMA, it has yet to breach the 21-week EMA.
Bitcoin's rally may fade as the year progresses, but the timing of a potential fall below the support band remains uncertain.
The lack of sufficient liquidity in the altcoin market further complicates matters; the issue with the liquidity of alts is that we see alts bleeding on their BTC pairs, this is an issue because a rally in BTC would actually wreck alts more in the mid-term because of the low amount of liquidity, the alts would underperform and when BTC will break down on the support band, we are likely to see a crushing dump in alts before the next halving
The mid-term TPI is currently bearish, so I expect bias to the downside in the coming weeks!
The dominance of alts is likely to keep falling, indicating alts will underperform BTC for a while
The Universal TPI is available below;)
Bitcoin's rally may fade as the year progresses, but the timing of a potential fall below the support band remains uncertain.
The lack of sufficient liquidity in the altcoin market further complicates matters; the issue with the liquidity of alts is that we see alts bleeding on their BTC pairs, this is an issue because a rally in BTC would actually wreck alts more in the mid-term because of the low amount of liquidity, the alts would underperform and when BTC will break down on the support band, we are likely to see a crushing dump in alts before the next halving
The mid-term TPI is currently bearish, so I expect bias to the downside in the coming weeks!
The dominance of alts is likely to keep falling, indicating alts will underperform BTC for a while
The Universal TPI is available below;)
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Telegram:
t.me/ikkeomarfree
I can also help you get $50.000 funded!
Just dm my Telegram @IkkeOmar