BTC Faces Resistance But Macro Trend Holds
Bitcoin failed to push above its newly respected resistance level yesterday and is now in the process of printing a second TBO Close Long on the daily. A TBT Stop Loss Hunting alert also fired in the last 12 hours, and with falling volume and OBV, these signals point to potential bearish continuation. However, the upward angle of the daily TBO Slow line keeps the broader trend intact. Bitcoin is once again inside the Cloud, which implies more sideways chop, but the slope of the Slow line remains one of the few bullish anchors.
Ethereum Outperforms, But Bearish Divergence Looms
ETH continues to show strength compared to BTC, even though it’s flashing a potential second TBT Bearish Divergence. It has remained above the daily TBO Cloud since Monday and its TBO Slow line is rising. ETH/BTC remains bullish, as price is holding above the Cloud, volume is nearly touching the yellow MA line, and a break above the 0.382 Fibonacci level could ignite a major ALTcoin run.
Stablecoin Dominance Shows Mixed Reversal Signs
Combined stablecoin dominance printed a second TBO Close Short on the daily, signaling bullish reversal strength. However, these signals are appearing too far above TBO Support, making them less reliable. The daily TBO Slow line is still curling downward, supporting the bearish macro. Another BTC pullback could cause another spike in stablecoin dominance, so RSI levels should be monitored closely. A lower high in RSI would support a short-term pullback thesis; a higher high would suggest deeper pain. On the 4h, recent TBO Close Longs invalidate last week’s breakout cluster, and more of these could push stablecoin dominance lower.
Bitcoin Dominance Attempts Recovery Within Bear Flag
BTC.D printed a second TBT Bullish Divergence yesterday and is slowly moving toward resistance within its bear flag structure. Historically, BTC pullbacks lead to rising dominance, but a bounce here doesn’t necessarily mean doom for ALTs. OTHERS.D and the TOTALE50 family are flashing multiple Close Shorts on the 4h, suggesting a possible continuation of ALT resilience, even if BTC.D temporarily spikes.
ALTs Show Divergence in Strength as Signals Fire
XRP printed a third TBO Close Short above support, while SOL showed weakness again with a second Close Long on the daily and weak volume/OBV. Still, its 4h chart shows potential for a bounce to overhead resistance. DOGE looks more promising with a recent bullish divergence and Close Short on the 4h, needing only a minor push to break out. SUI remains above support despite flashing weakness, while BCH impressed with a second test of long-term resistance and strong price action above the daily Cloud. LINK broke above short-term resistance and printed a third Close Short, with more likely incoming.
Select ALTs Eye Key Breakouts
TON pulled back sharply after a Bearish Divergence, showing erratic behavior. SHIB’s structure remains similar to DOGE, and a break above short-term resistance could push it up to 1335. LTC had a wild 8% pump that erased gains but pierced two major Fib and resistance levels. The last time this happened was just before its parabolic move in late 2020. Speculation of an LTC spot ETF could fuel more upside. NEAR, KASPA, MNT, and SPX6900 all show setups for potential breakouts as they approach overhead resistance with strengthening Slow lines or bullish reversal signals.
Momentum Builds Slowly But Surely
Historical August performance in crypto Top years like 2013, 2017, and 2021 supports the case for a green monthly close. BTC still needs to break out of the daily Cloud to confirm the next major move, but until then, patience remains the best trade.
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