Bitcoin stays bullish as Altcoin warning builds

Kitco Media
By Aaron Dishner
Published:
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Bitcoin stays bullish as Altcoin warning builds teaser image

Bitcoin confirmed its close above the old TBO Resistance, altcoin-dominance warnings are forming but unconfirmed, market-cap momentum is still bullish, and DXY confirmed a second breakout.

Bitcoin remains bullish while two scenarios stay equally likely

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Bitcoin / TetherUS · 1D · Binance

BTC confirmed Sunday’s close above the old TBO Resistance, then Monday’s high created a new resistance level. I think a break below the next short-term support fan line this week is likely. I also think an ascending-wedge breakout toward the 0.618 Fib at $93,650 is just as likely. I still expect a roughly 20% pullback, but not immediately; that is my personal view, not an objective guarantee.

The OTHERS.D warning is forming, not confirmed

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Crypto Total Market Cap Excluding Top 10 Dominance, % · 1D · CRYPTOCAP

OTHERS.D is working on a second TBT Bearish Divergence, but the daily candle still had about 18 hours left. If it holds through confirmation, I plan to sell 30% of all my ALT positions for stables. Until then, that sale is conditional, not an action already taken. OTHERS.D is market share, not spot price.

A second dominance warning needs candle confirmation

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Crypto Total Market Cap Excluding Top 100 Dominance, % · 1D · CRYPTOCAP

TOTALE100.D is also working on a TBT Bearish Divergence with the same unfinished daily-candle caveat. The chart measures market share, not spot price. I am waiting for candle confirmation before becoming more defensive.

Market-cap momentum remains strongly bullish

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Crypto Total Market Cap Excluding Top 100, $ · 1D · CRYPTOCAP

TOTALE100’s separate dollar market-cap chart has its TBT Wave above 6, the bullish momentum threshold. OTHERS is also still very strong bullish. Those market-cap readings can coexist with forming warnings on OTHERS.D and TOTALE100.D because dominance measures market share, not spot price or dollar market cap.

The dollar confirmed a second breakout

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U.S. Dollar Index · 1D · TVC

DXY printed a second TBO Breakout on Monday and is working toward the 0.5 Fib level. That is a confirmed breakout, not a forming signal. I see the strong dollar as a possible catalyst for a sudden crypto dip, so I want to be prepared to buy weakness rather than assume it must happen.

BNB offers a conditional dip zone

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Binance Coin / TetherUS · 1D · Binance

BNB is working on another TBT Bearish Divergence Cluster, yet its chart remains super strong bullish and could still bounce from the Fast line. If the Fast-line bounce fails, I see the Slow line at 646.01 as a great dip-buy zone. I did not give a stop, position size, leverage, or immediate entry.

Learn my strategies and the tools I use every day by visiting The Complete Cryptocurrency Investor by Mastering Assets.

Kitco Media

Aaron Dishner

Co-founder and lead instructor at The Better Traders, Inc., an international crypto education company, and owner of the popular crypto bot trading YouTube channel Moonin Papa, Aaron Dishner serves over 25,000 students across 36 countries as a world-leading bot trader and crypto day trading and swing trading expert. Combining his passion for educational excellence, stemming from a professional teaching background, with his remarkable skill set in crypto trading, Aaron’s mission is to make trading safe and accessible so anyone can learn to benefit from the greatest financial revolution of our time.
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