🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3
🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3
Hmmmmm....things are looking pretty bearish
Alt Market Cap
Currently in a bearish rising wedge, RSI is over stretched now and almost overbought and any further rise 75 and above will confirm a bearish divergence. Expecting a crash from here for Alts - money will flow out of alts and into primarily USDT and BETH* I feel the low caps are really going to feel the pain here. Additionally we are hitting the long term top of the descending channel as well as about to get smacked by the 200DEMA.
USDT Dominance
No surprise USDT Dominance is looking primed to breakout, there is a small chance capital can flow primarily into BTC although highly unlikely. Expecting USDT Dominance to pump. Currently in a long long term falling wedge - as money has been slowly buying positions in alts and BETH. We are additionally finding perfect support on the 200DEMA to bounce.
BTC Dominance
This is holding range well and at the lower end, expecting a large bounce here potentially to about 48% - given the other scenarios this makes perfect sense as capital will likely flow out of all crypto to USDT but out of BTC at a slower rate boosting the dominance quite fast.
BTC Price
Long term bullish but short term looking pretty bearish with the rising wedge, long term trendline resistance, 50DEMA resistance and the other scenarios painting a pretty bearish case.
*My new short-hand for BTC & ETH, don't sue me
Hmmmmm....things are looking pretty bearish
Alt Market Cap
Currently in a bearish rising wedge, RSI is over stretched now and almost overbought and any further rise 75 and above will confirm a bearish divergence. Expecting a crash from here for Alts - money will flow out of alts and into primarily USDT and BETH* I feel the low caps are really going to feel the pain here. Additionally we are hitting the long term top of the descending channel as well as about to get smacked by the 200DEMA.
USDT Dominance
No surprise USDT Dominance is looking primed to breakout, there is a small chance capital can flow primarily into BTC although highly unlikely. Expecting USDT Dominance to pump. Currently in a long long term falling wedge - as money has been slowly buying positions in alts and BETH. We are additionally finding perfect support on the 200DEMA to bounce.
BTC Dominance
This is holding range well and at the lower end, expecting a large bounce here potentially to about 48% - given the other scenarios this makes perfect sense as capital will likely flow out of all crypto to USDT but out of BTC at a slower rate boosting the dominance quite fast.
BTC Price
Long term bullish but short term looking pretty bearish with the rising wedge, long term trendline resistance, 50DEMA resistance and the other scenarios painting a pretty bearish case.
*My new short-hand for BTC & ETH, don't sue me
