The pullback strengthens my dip-buy conviction, but more altcoins are printing bearish reversal warnings. The distinction is between a broader bullish view, weaker individual charts, and targets that have not yet been reached.
Bitcoin pullback strengthens my dip-buy conviction
BTC had another dip Thursday, but the resemblance to the mid-September pullback gives me more confidence to buy the dip. Many altcoins fell more, as expected under the Multiple Factor Effect, and some deserved more trimming than others. I still favor a continued rally over this being the start of the roughly 20% pullback. Even if that deeper drop is starting, my plan is to keep buying the dip because I see the broader market as macro bullish. That broad view does not erase the weaker individual charts, and a dip-buying plan matters when dips keep dipping.
Ethereum reset is in progress, not confirmed
ETH fell more than BTC Thursday and its RSI flipped oversold, leaving a bullish RSI reset in progress. I see that as a dip-buy opportunity, with ETH/BTC an even stronger example. In progress is not the same as a confirmed reset or a completed price recovery.
Stablecoin dominance shifts inside the Cloud
Combined USDT and USDC dominance pushed higher inside the daily Cloud Thursday, switching to bullish consolidation, while RSI went overbought above 70. Its Slow line remains macro bearish. I expect an eventual tag of the weekly Fast line and think a weekly bullish RSI reset is likely; neither is being presented as already completed. I still lean toward a continued crypto rally rather than the start of the roughly 20% pullback. Dominance is market share, not a stablecoin price or a Bitcoin price target.
Altcoin consolidation does not mean uniform weakness
OTHERS.D moved inside the Cloud into bearish consolidation, yet its Slow line keeps pointing up and remains macro bullish. I still think its weekly chart has a chance to push above 9%; that is a possibility, not a completed move. TOTALE50.D did not even fall inside its Cloud Thursday. TOTALE100.D did, and its macro trend is still bearish, although it is already up 1.31% in this snapshot and primed to push back above the Cloud into the weekend. Separately, OTHERS/BTC retraced to historical resistance, confirming it as support. I still think altcoins stand a good chance of bouncing. Keep these dominance percentages separate from dollar market-cap charts and relative-to-BTC charts.
Dollar and oil reversals remain conditional catalysts
DXY is below the 0.5 Fibonacci level and looks like it could reverse here, which should help gold, traditional markets and crypto. I hope that also brings USDJPY to 152 and below. S&P futures remain extremely strong bullish, NDX remains very strong bullish after its sharper pullback, and DJI is still in bearish consolidation. Oil futures could be the market mover: a drop below mid-term support around 87.80 would lift gold, stocks and crypto/BTC further in my view. That support break is conditional, not an event I am claiming has already happened. PAXG/BTC tagged its Fast line and printed a TBT bullish divergence, but I do not think it will move up much more.
AKT springboard target meets a broader warning wave
AKT wicked into the Fast line and I expect it to hit TBO Resistance at 0.7868 today for a roughly 15% TBO Springboard Bounce. That is my target and expectation, not an achieved return or a claimed fill. Across many altcoins, more TBO Close Longs are printing: these are bearish reversal warnings, with an expected move lower after returning to the Fast line. CRO deserves a more bearish lean when its Slow line is still pointing down. DOT has already fulfilled its Thursday Close Long on today's bounce, but its macro trend remains bearish. DRV is above TBO Resistance intraday but still needs to close above it; a move toward the previous upper wick at 0.75 is possible, not confirmed. WAL has a steeply falling Slow line and a bearish divergence after Thursday's 11% drop; if support does not hold, it will fall further. Have a plan rather than treating every dip or warning alike.
Learn my strategies and the tools I use every day by visiting The Complete Cryptocurrency Investor by Mastering Assets.
