BTC Inches Higher but Faces Overhead Pressure
BTC is slowly rising toward key resistance just below $109k. Confidence in a breakout remains low, and a small short position has been placed in anticipation of a rejection at this level. ETH, meanwhile, is still trapped inside its daily TBO Cloud with falling volume, suggesting limited strength. If BTC gets rejected at resistance, ETH could fall to support at $2,188.
Bearish Signals Multiply Across ETH and ALTs
Stop Loss Hunting alerts are firing again, adding more pressure to ETH, especially with ETH/BTC now showing a TBO Open Short signal—further confirmation of the bearish trend. A TBT Bearish Divergence on June 12th already hinted at this outcome. ALTs remain vulnerable due to strong BTC Dominance, which climbed to a new local high of 66.01%. Even though daily RSI is above 70, it hasn’t broken resistance, and BTC.D still shows strong bullish structure across both daily and weekly timeframes.
Dominance Charts Reinforce Bearish Macro Structure
Until BTC.D reverses and prints a TBO Close Long, ALTs are unlikely to mount any meaningful recovery. Both Top 10 and OTHERS Dominance are back at support levels, showing no signs of a reversal. The TOTAL crypto market cap chart is still in bearish consolidation inside the daily TBO Cloud, despite Monday’s bounce, and OTHERS remains strong bearish as well. BVOL7D ticked slightly green yesterday, and would likely spike if BTC corrects.
DXY Breakdown Boosts TradFi Momentum
The DXY continues to fall, sending a strong bullish signal to risk-on markets. Daily RSI is now touching support, adding more weight to the case for TradFi upside. The S&P has returned to its all-time high, the NDX printed its second TBO Breakout at the 1.618 Fib extension, and the FANG index is targeting the 1.272 extension. NVDA posted three consecutive daily TBO Breakouts, hitting a new all-time high, while the VIX made another local low.
Asian Markets Join the Rally
The NIKKEI is preparing for its second daily TBO Breakout, with the weekly chart already up 5% and weekly RSI above 70. The Shanghai Index is following suit, also printing a TBO Breakout. These moves confirm that the momentum in TradFi is widespread and strong.
Strategies for Crypto During Uncertainty
In the meantime, traders should focus on identifying key long-term support zones for potential entries if BTC gets rejected. SUI’s support at 1.9626 is one example.
Another option is to watch for Springboard Bounces on coins that have previously shown strong behavior near their TBO Fast lines, such as BCH. Until BTC offers clarity with its reaction at resistance, a conservative “wait and see” approach is warranted.
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