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.
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