The support band consists of two indicators: the 20-week simple moving average (SMA) and the 21-week exponential moving average (EMA). While Bitcoin recently experienced a weekly close below the 20-week SMA, it has yet to breach the 21-week EMA.
Bitcoin's rally may fade as the year progresses, but the timing of a potential fall below the support band remains uncertain.
The lack of sufficient liquidity in the altcoin market further complicates matters; the issue with the liquidity of alts is that we see alts bleeding on their BTC pairs, this is an issue because a rally in BTC would actually wreck alts more in the mid-term because of the low amount of liquidity, the alts would underperform and when BTC will break down on the support band, we are likely to see a crushing dump in alts before the next halving
The mid-term TPI is currently bearish, so I expect bias to the downside in the coming weeks!
The dominance of alts is likely to keep falling, indicating alts will underperform BTC for a while
The Universal TPI is available below;)
Bitcoin's rally may fade as the year progresses, but the timing of a potential fall below the support band remains uncertain.
The lack of sufficient liquidity in the altcoin market further complicates matters; the issue with the liquidity of alts is that we see alts bleeding on their BTC pairs, this is an issue because a rally in BTC would actually wreck alts more in the mid-term because of the low amount of liquidity, the alts would underperform and when BTC will break down on the support band, we are likely to see a crushing dump in alts before the next halving
The mid-term TPI is currently bearish, so I expect bias to the downside in the coming weeks!
The dominance of alts is likely to keep falling, indicating alts will underperform BTC for a while
The Universal TPI is available below;)
Join my community where i share signals and my secret algos:
Telegram:
t.me/ikkeomarfree
I can also pass funded accounts for you!
$50,000 accounts
Just dm my Telegram @IkkeOmar
Telegram:
t.me/ikkeomarfree
I can also pass funded accounts for you!
$50,000 accounts
Just dm my Telegram @IkkeOmar
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my community where i share signals and my secret algos:
Telegram:
t.me/ikkeomarfree
I can also pass funded accounts for you!
$50,000 accounts
Just dm my Telegram @IkkeOmar
Telegram:
t.me/ikkeomarfree
I can also pass funded accounts for you!
$50,000 accounts
Just dm my Telegram @IkkeOmar
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.