#BTC/USDT ANALYSIS
BTC perfectly bounced from the trendline support of the symmetrical triangle. Currently, it is facing the MA 50 and the Ichimoku cloud resistance. A solid breakout of the triangle would be a bullish confirmation. In case of rejection, we'll see further movement inside the triangle.
Assessing the Bitcoin Short-Term Holders, we can see that their Profit / Loss ratio remains well within a profit dominated regime, with profit taking outsizing losses by 50x.
Regular retests of the equilibrium level of 1.0 suggests that profits are being absorbed, and investors are generally defending their cost basis during corrections.
#BTC/USDT ANALYSIS
BTC is trading above the trendline support of the symmetrical triangle. The Ichimoku cloud is acting as a resistance. RSI is in the oversold region. A good volume bounce and breakout of the triangle would be the bullish confirmation. In case of a sustained breakdown of the triangle, that would be a bearish sign.
#BTC/USDT ANALYSIS
BTC is moving in a symmetrical triangle. Currently, it is bouncing from its trendline support. We've to wait for a solid breakout or breakdown of the triangle for the direction confirmation, until that further movement is expected inside the triangle.
#US DOLLAR ANALYSIS
The US dollar is attempting to break out of the symmetrical triangle, with the MA 100 and the Ichimoku cloud acting as resistance.
A solid breakout of the symmetrical triangle and the Ichimoku cloud would confirm bullish sentiment, while rejection would indicate further movement within the triangle.
It's important to note that the US dollar typically moves inversely proportional to the crypto market.
#BTC/USDT ANALYSIS
BTC retraced to test the horizontal support following a bullish weekly candle closure, initiating the new month with a bearish daily candle closure. A successful retest above the triangle would reignite bullish momentum in the market. Conversely, if candle closures occur below the horizontal support, it would signal a corrective phase in the market.
#TOTAL MARKET CAP ANALYSIS
The total market cap is moving within a symmetrical triangle, with the Ichimoku cloud acting as support. A bounce from the trendline and a solid breakout of the triangle would confirm the upward direction.
However, in the event of a sustained breakdown of the triangle, a market correction is also anticipated.
#BTC/USDT ANALYSIS
BTC has experienced a bullish weekly and monthly candle close. Additionally, the golden crossover has taken place. The Ichimoku cloud indicates a bullish trend. As long as it continues trading above the triangle, we can anticipate the continuation of this bullish move.
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#PEPE/USDT ANALYSIS
PEPE has broken out of the ascending triangle with decent volume. The Ichimoku cloud indicates a bullish trend, while the MACD crossover suggests bullish momentum. A continuation of the bullish move is expected as long as it trades above the triangle.
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#BTC/USDT ANALYSIS
BTC is trading within a symmetrical triangle on the 8-hour timeframe. The MA 100 and the Ichimoku cloud indicate a bullish trend.
A solid breakout of the triangle would confirm the bullish sentiment. However, in the event of rejection and a sustained breakdown of the triangle, a market correction is also anticipated.
#S&P 500 ANALYSIS
The S&P 500 has once again regained momentum after experiencing a minor correction. Currently, it is forming a bullish candle, indicating the potential continuation of the upward trend until a healthy correction takes place.
The upward movement in the S&P 500 could also serve as a bullish signal for the crypto market, as they typically exhibit a direct correlation with each other.
#VIB/USDT ANALYSIS
VIB is currently forming an ascending triangle pattern, with the Ichimoku cloud acting as a supportive factor. The 100-day moving average (MA 100) indicates a bullish trend. Additionally, the MACD crossover is indicating increasing bullish momentum. A decisive breakout above the triangle pattern would confirm the bullish move.
#USDT DOMINANCE ANALYSIS
USDT.D continued its bearish move after the breakdown of the symmetrical triangle. Currently, it is bouncing from the horizontal support and trading below the MA 200. A sustained breakdown of the horizontal support would confirm a bearish sentiment.
We might observe some movement above the horizontal support. It's important to note that USDT dominance tends to move inversely proportional to the crypto market.
#NEAR/USDT ANALYSIS
NEAR appears to be following a descending triangle pattern, followed by a bullish move. Confirmation of bullish momentum would entail a continuation of the bounce and a solid breakout of the triangle. However, in the event of a sustained breakdown of the triangle, a correction would be expected.
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#ANKR/USDT ANALYSIS
ANKR has broken out of the ascending triangle pattern with a notable increase in volume. The Ichimoku cloud suggests a bullish trend. As long as it continues trading above the triangle, we anticipate a continuation of the bullish momentum.
#ALTS MARKET CAP ANALYSIS
The ALTS market cap is forming an ascending triangle on the weekly timeframe. Presently, it is attempting to break out of the horizontal resistance.
A solid breakout of the triangle would confirm bullish momentum, while a rejection would indicate further consolidation within the triangle.
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#BTC/USDT ANALYSIS
BTC is trading below the trendline resistance of the symmetrical triangle, with the MA 100 and the Ichimoku cloud acting as support. A solid breakout of the triangle would confirm bullish momentum. Further movement within the triangle is anticipated until a sustained breakout occurs.
#BTC DOMINANCE ANALYSIS
BTC.D is consolidating within an ascending triangle chart pattern, with the Ichimoku cloud serving as a supportive factor. The RSI indicates a neutral stance.
Further movement is anticipated within the triangle until a decisive breakout or breakdown occurs. It's noteworthy that BTC.D typically exhibits an inverse relationship with the Alts market cap.
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#S&P 500 ANALYSIS
The S&P 500 has continued its bullish momentum following the breakout of the rising wedge and the all-time horizontal resistance.
It is displaying strength through consecutive bullish weekly candle closes, suggesting a potential continuation of the current uptrend, although a major retracement may occur at some point.
This positive trend in the stock market could also bode well for the crypto market, as they often exhibit a direct correlation.