We all know that Btc is sucessfully retesting it's downtrend which it has broken through yesterday and this claims that ongoing upward movement will continue..
But what about other data? What does macro scale other than BTC chart telling us?
1.DXY: is on the way back to it's 1w support which is 104.0366 so i expect it will continue to decline at least till that support which is good for crypto market.
2. USDT.D: is on the way back to it's daily support 5.81% which is also good for crypto market till it reaches it's support
3.BTC.D: is on the way back to it's daily support which is 41.42%. If BTC.D is declining when BTC is going up, altcoins will pump up more than BTC.
4. Total Cap: is going up to it's daily resistance 1.16T which is obviously good for crypto market
5. Total 2: is going up to it's daily resistance which is 612.747B which favors the idea that altcoins will pump more than BTC.
6.ETH/BTC: is very near to it's daily resistance which is 0.71526. I think this is the most important thing. I am asking that when the macro economic conditions are all against an increase in crypto market why BTC is increasing? But remember first ETH rose up than BTC and other coins followed this time.. That' s just after the announcement of merge date which is on September. So we can say that ETH is leading the market this time. So if ETH/BTC breaks the resistance of 0.71526 we will see a very good times in short to medium term but if ETH/BTC resistance stops ETH'S leading we will be back to boring sideway movements.
We will see..
But what about other data? What does macro scale other than BTC chart telling us?
1.DXY: is on the way back to it's 1w support which is 104.0366 so i expect it will continue to decline at least till that support which is good for crypto market.
2. USDT.D: is on the way back to it's daily support 5.81% which is also good for crypto market till it reaches it's support
3.BTC.D: is on the way back to it's daily support which is 41.42%. If BTC.D is declining when BTC is going up, altcoins will pump up more than BTC.
4. Total Cap: is going up to it's daily resistance 1.16T which is obviously good for crypto market
5. Total 2: is going up to it's daily resistance which is 612.747B which favors the idea that altcoins will pump more than BTC.
6.ETH/BTC: is very near to it's daily resistance which is 0.71526. I think this is the most important thing. I am asking that when the macro economic conditions are all against an increase in crypto market why BTC is increasing? But remember first ETH rose up than BTC and other coins followed this time.. That' s just after the announcement of merge date which is on September. So we can say that ETH is leading the market this time. So if ETH/BTC breaks the resistance of 0.71526 we will see a very good times in short to medium term but if ETH/BTC resistance stops ETH'S leading we will be back to boring sideway movements.
We will see..