Traders Unprepared Despite New All-Time High
The crypto community’s reaction to the recent pullback suggests many are not exposed to $BTC or $ETH. Despite BTC setting a new all-time high at $124k just days ago, sentiment on social platforms resembles a bear market. BTC has entered bearish consolidation inside the daily TBO Cloud, and a TBO Close Long is currently forming, but won't confirm for another 22 hours. The Slow line remains upward-sloping, maintaining the macro bullish bias. Historical TBO Resistance flipped support at $109k and $106k are logical bounce zones, but a move back above the Cloud seems more likely in the short term. Lower timeframes are already showing TBT Bullish Divergences, similar to early August’s bottom.
ETH Remains the Strongest Chart in Crypto
$ETH continues to look more bullish than BTC, staying above the daily TBO Cloud with strong upward momentum in the Slow line. A TBT Bearish Divergence printed during the pullback, but the structure mirrors the early August setup. The CME Gap at $4,100 remains in play, with price aligning near both 4h and daily TBO key levels. Short-term support at $4,047 could act as a bounce point. While ETH pulled back more than BTC, the macro trend remains intact. The ETH/BTC pair dipped -2.6% but is expected to target the 0.5 and 0.618 Fibonacci retracement levels next, with the latter being nearly 29% higher.
Dominance Metrics Reinforce ETH Strength
Combined Stablecoin Dominance entered bullish consolidation inside the TBO Cloud, but the weekly Slow line still trends down. Confirmation of a TBO Close Short is pending. Unless dominance exceeds 6.40%, there's little reason to worry, and even then, stronger resistance lies at 7.75%. Bitcoin Dominance remains bearish, with a downward curling Slow line, and although two weekly TBO Close Longs have formed, BTC.D has yet to reclaim the weekly Fast line. ETH Dominance is clearly leading, showing a strong bullish structure and confirming ETH’s role in guiding market direction.
Total Market Charts Hold Macro Bullish Structure
TOTALES.D printed a TBO Close Long, suggesting a return to the Fast line, and remains macro bullish as long as the Slow line continues rising. The broader TOTALES chart pierced the Cloud but is attempting to reclaim it. OBV and RSI are weakening, but the rising Slow line is a key bullish signal. The OTHERS/BTC chart, however, flashed a third TBT Bearish Divergence on the daily, indicating weakness in ALT/BTC pairs and a high likelihood that ALTs may continue underperforming against BTC.
ALTs Struggling, But Structure Still Intact
Altcoins across the board are showing TBO Close Longs or are pulling back into support zones. $XRP, $DOGE, and $SOL are falling into consolidation but remain valid DCA opportunities with upward Slow lines. $ADA lost support and needs volume to recover. $LINK remains bullish with huge volume spikes.
$SUI and $TAO are at critical support levels, while $BONK and $PENGU are looking increasingly weak. $SPX6900 lost key support with volume fading, but a TBT Bullish Divergence is still active. $PUMP, $FARTCOIN, and $AERO are all testing or near TBO Support zones. Across the board, short-term weakness is evident, but the macro trend—especially led by ETH—remains bullish.
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