Bitfinex showing strong supply here.

DXY

Bouncing from the major support posted on the previous analysis.

It has inverse correlation with BTC, but they usually diverge first (it's happening now, both are going up). This is another reason why I expect BTC to reverse its bullish trend soon, and I will cover it when I update the pinned thread on X with a second part.

BTC has a triple bearish divergence on the 4H.

First bearish confirmation below $50k.

Second bearish confirmation below $48,500.

Even if I think altcoins are going to keep pumping this week and most of them should make a new high, right now the move looks overextended and it wouldn't surprise me to see a 10-15% drop to shakeout some positions before bullish continuation.

My positions are in spot, no leverage, so I would just add more if that happens.

Potential 10-15% drop soon. BTC could reach 45k.

Coincidence?

Potential 10-15% drop soon. BTC could reach 45k.

Good morning.

Current plan:

-BTC dumps to 45k, altcoins dump 10-15%.

-BTC bounces from 44k-45k to form a lower high around 47k-50k. In the meantime, altcoins bounce harder and go for the last high, forming a divergence with BTC (low caps could keep giving good returns)

-The entire market reverses and dumps hard.

BNB update

$350 reached ✅

Waiting for ltf bearish signs to start building a swing short position.

The fact that the movement from the local low has had so much interaction with this Fibonacci channel, that wave C is exactly 1:1 with A, and that the movement has been primarily caused by stablecoin mints plus FOMO due to ETFs and the halving, confirms that this movement is corrective and not impulsive, and that it should be followed by a continuation of 2022. This continuation should be shorter in time, but more aggressive in terms of price/time ratio.

This is likely.

I wish you all a good weekend.

Taking profits on alts here. I'm out of all my positions for now. I will buy back lower if we get the 10-20% shakeout.

The price is starting to dump. Price down, OI up, funding up. Bearish.

This could easily reach $45k.

BTC zoomed in

ETH update

$2800-3000 reached ✅

Currently at major resistance. Expecting a strong rejection soon.

In my opinion BTC and ETH have reached a very important top here. Altcoins look very overextended now and fundings are very high.

There are high chances that we could see a 10-20% drop soon, with BTC reaching $45k.