Fantastic bounce above 69k!
Stay above and we gud again

SPX about to open with a giga pump as well

This was very true.

BTC daily doesn‘t look that great again. However, SPX closed green again. I still don‘t see BTC get rekt giga hard before SPX dives.

Unfortunately, it seems like alts are just no fun…still

Btw, DJI (Dow Jones) is going lower, while SPX goes higher. DJI has less stocks than SPX.

This is healthy as large caps currently get outperformed by smaller stocks.

Stocks follow same patterns as BTC -> ETH -> Alts.

With ETHs ETF inflows to be coming soon, I surely expect more green as long as stocks remain stable or slowly grind up. SPX dump will kill us tho. This is my main indicator right now to decide whether we topped or are just getting started.

My man Brinkie asked what ETH needs to do to break BTC Dominance.

Great question: we are above this super long downtrend. Technically, ETH is in a great position to rallye.

We might trend down further to 0.05 but this would be a super strong support on ETH/BTC and could be the start of ETH rallyeing and might also mark the start of an altseason. Alts are giga rekt again. At least some relief should be the minimum. Check 0.05 and see if it bounces from there.

*a break of 0.06 ETHBTC is the last reversal signal

We need to break upwards this channel.

This constant chop is annoying af. But we should finally get to an end soon to decide in which direction we continue.

My bias: up, cause of stocks surge

Context

If SPX breaks below 5400, we might get even more bloody ok crypto

If we close the daily below 66k, it is sort of over. If we hold 66k, hopium

If below 66k, 57k region

100D MA is at 67.8k. We closed above the previous days. This will be the first below

Approaching first support: 64.8-65k

Same situation like here at 58k. We have some time to pump above again.

We need a pump desperately tho. We bounced off 64.8k region.

66k is the 50D MA. A close above 66k is the first step. Need pump above 67k again in the next 2 days.


IF we fail to recover, 64.8k and then we look at the 57k region next.

Green = 50D MA
Yellow = 100D MA

Oh and BTW, wicks don‘t matter that much. What matters a lot more is the close of the daily and weekly candle (body).

1. day close above 66k ✅
2. day no significant downside. ✅
3. day (today) We need a pump to get the nice bear trap reversal. If we fail to get momentum - „falling off a cliff feeling“, we will head lower. 62-63k, then 57k~

Good start. Let‘s hope we get some momentum.

Big resitstance is 67k now (unfortunately)