$ETH has printed a double bottom and looks to be nearing the end of accumulation. Expecting alts to start gearing up and running alongside $ETH.
Obviously, $BTC plays a pivotal role in market PA, but it has shown significant demand within the 7000s.
New lows narrative makes 0 sense without atleast tapping the $215+ supply. After tapping the $160 supply we had a rejection that was held very well. IMO we breach local high ($166.40), re-test S/R flip, then move towards $200+. This coincides with the Marketcap TA I published a couple weeks back, detailing the coming 40B+ to the market.
Forgot to publish this the other day..but we should see around 40B+ enter the market in the next couple of months. Higher lows are being printed in tandem with increasing buy volume.
I would like to see a break and flip of the outlined resistance in order to confirm the bias. The current market state is bullish until we see a lower low formed.