The final year of bitcoin halving year is usually a bullish year for the Altcoins. CRYPTOCAP:TOTAL2 is the measure of the Total Market Crypto Market CAP without $BTC. Today we are looking into a ratio chart of TOTAL2 vs BTC Market cap. The supposed strength in Altcoin is missing as is evident from the CRYPTOCAP:BTC.D chart and the ration chart between TOTAL2 vs BTC. If we plot the Fib Retracement levels on the CRYPTOCAP:BTC.D from the last cycle lows to the highs, we see that in the current halving cycle the CRYPTOCAP:BTC.D is progressing towards 0.786 Fib retracement levels which is currently indicating a CRYPTOCAP:BTC.D of 66.2 %. The ratio of Toatal2 vs BTC Market cap fits surprisingly within the Fib levels and makes new lows every week in this weekly chart. The levels to watch on the ratio chart will be 0.43 What does this trend tell us. It might be possible that the Altcoins USD pairs are bullish, but the Altcoins are making new lows vs BTC. So, it's a better strategy to go long $BTC. The risk reward is very much in favour of CRYPTOCAP:BTC rather than Altcoins. Verdict: Long CRYPTOCAP:BTC , CRYPTOCAP:BTC.D to 66%.
Good Evening and I hope you are well. comment: We will likely have a big breakout tomorrow or Wednesday. Right now I still favor the bears since we are in a bear trend but if we print 21701, it’s over and market is neutral again on higher time frames. Today’s high 21266 is not the best stop for shorts but if we just continue down from US close, it will have to do. current market cycle: trading range or continuation of the bear trend - answer will be given on Tuesday key levels: 19000 - 22000 yeah. no typo. bull case: Bulls want to stay above the 4h 20ema and break above the closest bear trend line from 22350. If they print a higher high tomorrow, we could gain enough momentum by shorts covering that we test 21500 and the next bear trend line that started this bear trend a month ago close to the ath. Bears have not printed one good bear bar on the 4h chart since Thursday after EU close. That increases the odds for the bulls somewhat but still have my doubts. Invalidation is below 21000. bear case: Bears need to make lower highs below 21226 and lower lows below 20900 early tomorrow or bulls will continue higher and bears have to cover. We are near two very important trend lines and they either hold or we go much higher again. We have been on a broad bull channel since Thursday and market has not moved up that much given the volatility the days before. Tough guesses tbh but I will continue to look for trades only near the extremes and on good momentum. Invalidation is above 21300. short term: Neutral. Mabye a bit bearish if we get decent selling going early tomorrow. 20900 - 21226 is the current range and we will likely break out of it tomorrow. medium-long term from 2024-03-16: Bear trend is ongoing but for now I still think 19500 and below is an amazing buy if you can hold for years. Things will have to turn really bad for this market to find acceptance below the bull trend line from the covid lows and right now this trade war is just front running. Markets were not priced for risk 3 weeks ago but this drop was too much too fast. My bearish targets for this year are met and with the current environment I will not call for lower prices than 19000. If the trade war turns real bad, yeah sure but for now it’s not. current swing trade: None trade of the day: Buying the globex gap close or the double bottom 20900. Why? Because every time market dipped below 20970 today, we rallied back up.
Over SWIFT in the Bank of International Settlements (BIS) Cross-Border Payments Task Force, Ripple's XRP has taken the front stage in a revolutionary development for the crypto sector and the world economy.
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HK Asia Holdings has declared a notable rise in its Bitcoin exposure in a bold action reflecting the changing investing environment.
Japanese financial behemoth SBI Holdings recently revealed in a statement that Ripple has acquired a yet-to-be-named fintech business, therefore reinforcing the blockchain corporation's will to transform world finance.
Shared micromobility company Lime has reached an agreement to send batteries used in its scooters and e-bikes to Redwood Materials, which will extract and recycle critical minerals such as lithium, cobalt, nickel, and copper. The agreement announced Monday makes Redwood Materials the exclusive battery recycling partner for Lime’s shared scooters and e-bikes located in cities […]
In furtherance of Marvel President Kevin Feige’s Thanos-like quest to collect all of the best actors to power his Marvel money-making machine, another award-winning actor has entered his orbit. During a panel at Chicago Comic & Entertainment Expo (C2E2), John Boyega revealed he has had conversations with the MCU…Read more...
NAZ rejected at the Diablo, again. No Pass go Short and a passing of KL is a Long. 19,400 is the zone to watch, should the Overnight Magic Traders get the NAZ that high. If O/N can't do it I highly doubt the Reg Session will as it usually sells off. NAZ on the edge of the channel and has not done much since the 20 minute 2,000 point pop from Uncle Bunker. NDX Update below https://www.tradingview.com/x/XrHdJMtg/
AUD/JPY attempts to retrace the decline from earlier this month after testing the 2023 low (86.06), and break/close above the 91.50 (61.8% Fibonacci retracement) to 91.70 (38.2% Fibonacci extension) region may push the exchange rate towards the 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension) zone. Next area of interest comes in around 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension), but AUD/JPY may track the negative slope in the 50-Day SMA (93.90) if it struggles to retain the rebound from the monthly low (86.05). Need a close below 89.20 (61.8% Fibonacci extension) to bring the 0.8660 (78.6% Fibonacci retracement) to 0.8740 (78.6% Fibonacci extension) zone on the radar, with the next area of interest coming in around the 2023 low (86.06). --- Written by David Song, Senior Strategist at FOREX.com