Bitcoin rose nearly 1% at the start of Thursday and moved above short-term resistance, but the Better Traders source remains focused on support steps and expects lower prices. Crypto breadth retains bearish signals, even as sharp rebounds developed in the dollar and several equity indexes.
Bitcoin bounced but the source remains focused on support
BTC surprised to the upside early Thursday, moving nearly 1% above short-term resistance. The source says that move does not change the current read and remains focused on support levels breaking one by one. BTC closed only slightly green above the Fast line, remaining in bullish consolidation.
Ethereum has trend strength alongside reversal warnings
ETH is working on a TBT Bearish Divergence and continues to struggle with TBO Resistance. ETH/BTC remains strong bullish above its daily Cloud, but its falling RSI and OBV crossing below the white moving average are described as bearish reversal signals. The source says it is still early and conditional.
Crypto breadth remains weak despite oversold readings
BTC dominance remains in bearish consolidation. SOL dominance confirmed a TBO Open Short, while ETH dominance is showing daily weakness. TOTALES remains in bullish consolidation inside its Cloud, but its RSI is described as confirming a bearish downtrend. TOTALE100 dominance finally reached oversold RSI, which is not treated as proof of a reversal.
The dollar and equities staged a sharp response
The DXY dumped 0.83% Thursday, printed a TBO Close Long and is working on a bullish RSI Reset. The source expects a potential snap back toward the Fast line before a further move lower. EURUSD jumped but had not reached the cited 1.16 target. USDJPY’s selloff is called suspected intervention and remains a buy-the-dip setup until it closes below the daily Cloud.
Equity strength and weakness remain mixed
S&P futures snapped back after Wednesday’s pullback. NDX printed a bullish RSI Reset and TBO Support jumped from 23,198 to 27,686, which the source calls a strong pivot-low signal. At the same time, the FANG index printed a TBO Open Short and NVDA technically remained below its Cloud in strong-bearish mode.
ALT selectivity and compressed commodities keep risk elevated
SOL failed to reclaim its Cloud and remains strong bearish; the source says a bearish August could send it toward TBO Support at 66.59 or lower. UNI broke out 11% but is overbought, and the source cautions against chasing a pump. AAVE, ZRO, CFX and ZBCN retain downside warnings. Gold remains below its first resistance fan line, while the TBO Cloud is exceptionally compressed and may precede an explosive move.
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