BTC broke its dominance run yesterday and currently taking every coin down itself, we have see in the past that $42,750 to $42,503 is a support ribbon recently developed where it's headed.
TECHNICAL ANALYSIS
In LTF, 200MA lies at $43,348 where we can see can BTC will bounce a bit, second support is mentioned with green ribbon extending from $42,750 to $42,503.
We are looking at Volume injection is aligned with the current downward trajectory.
RSI is at 26 level, reflecting a bounce is going to happen soon to stabilize the momentum.
In HTF, BTC is way below than 200MA like I previously suggested that correction will pull it back after an indecision candle.
ALT COINS
In the current momentum till the BTC is going down, alts will bleed.
ETH also retraced from $3300 levels, same for LTC, XRP and BNB.
FINAL VERDICT
BTC will stabilize at support zone soon, which will open a window for ALTs to pump for a while. So long position from there will be feasible.
DIP VALIDATION & SYCAP PATTERN
The FUD will pull BTC down from 50k region to 38k region, the panic selling will further push it down to the levels previously told.
We are safe for a week at the moment, minting profit till the point of BTC breaching 50k is still possible.
SYCAP Pattern's 6th phase is 60% completion and retracement is happening which was due. We will see rest of the 40% completion close to 50k Level. That will be the start of the 7th phase.
Thank you
Shoayb Khan
TECHNICAL ANALYSIS
In LTF, 200MA lies at $43,348 where we can see can BTC will bounce a bit, second support is mentioned with green ribbon extending from $42,750 to $42,503.
We are looking at Volume injection is aligned with the current downward trajectory.
RSI is at 26 level, reflecting a bounce is going to happen soon to stabilize the momentum.
In HTF, BTC is way below than 200MA like I previously suggested that correction will pull it back after an indecision candle.
ALT COINS
In the current momentum till the BTC is going down, alts will bleed.
ETH also retraced from $3300 levels, same for LTC, XRP and BNB.
FINAL VERDICT
BTC will stabilize at support zone soon, which will open a window for ALTs to pump for a while. So long position from there will be feasible.
DIP VALIDATION & SYCAP PATTERN
The FUD will pull BTC down from 50k region to 38k region, the panic selling will further push it down to the levels previously told.
We are safe for a week at the moment, minting profit till the point of BTC breaching 50k is still possible.
SYCAP Pattern's 6th phase is 60% completion and retracement is happening which was due. We will see rest of the 40% completion close to 50k Level. That will be the start of the 7th phase.
Thank you
Shoayb Khan
Crypto Affairs
