Total 3 Vs. BTC At Pivotal Point - Breakdown Soon?
Altoins (Total crypto market excluding BTC and ETH) valued against Bitcoin are at a pivotal point. They are retesting a previous extremely important point of resistance/support. Going back to last cycle, it was at this point in 2019 that the altcoin market broke down. It was at this point in 2020 that the bull-market was invalidated. And when this zone was finally broken in 2021 the bullmarket rally arrived.
Many have been confidently asserting the bull-market has arrived, and maybe it has for Bitcoin, however for alts the situation looks pretty dubious.
Bitcoin can stay at the same price, rally or fall - it makes little difference to the situation on this chart - altcoins may still crash.
A Bitcoin heavy portfolio has made the most sense for the past 2 years, and it still looks very sensible, based on this chart.
View Altcoins with caution.
Bias here is bearish.
Many have been confidently asserting the bull-market has arrived, and maybe it has for Bitcoin, however for alts the situation looks pretty dubious.
Bitcoin can stay at the same price, rally or fall - it makes little difference to the situation on this chart - altcoins may still crash.
A Bitcoin heavy portfolio has made the most sense for the past 2 years, and it still looks very sensible, based on this chart.
View Altcoins with caution.
Bias here is bearish.
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.