Hello everyone, colleagues!

Well, the cue ball continues to move according to our expectations. In the previous review, I mentioned 200DMA at TF 4H, 6H and 8H, this is exactly the range of 61K-63K.

At the moment, the price rests at 200DMA 8H at the level of 63K and the previous local high from the beginning of July has not yet been rewritten.

Judging by the positive dynamics of the market as a whole, the crossing of $63,800 may take place in the near future (up to $64K-65K), after which, to continue growth, a retest of the level of $60-62K will be needed. Now a new local ascending channel is being formed, similar to the one that was formed during May (see 6H). If we look at 1Week, last week a Clearance in the Clouds pattern was formed and its development can be expected up to inclined resistance in the $65K-67K zone and after which, with a high probability, a sharp decline with a reversal of the previous extremum to $48K. To do this, they will deliver another portion of negative news.

During the next fall of the cue ball, its dominance can increase to 60%, from where capitalization will begin to flow into the alt and a significant decrease in dominance. In the meantime, alta may once again update its lows ahead of a major rally and alt season. The altseason will begin as soon as TOTAL3 (cap of all alts excluding BTC and ETH) pushes off from the level of $450-500B

As sad as it may sound, be prepared for the fact that the entire crypto market may bottom out one more time before the final rise in this bullish cycle.

For the ETH/BTC pair, the scenario remains within the movement within an equilateral triangle, with a greater probability of a true rise. In the next 1-2 months, Ether will begin to rise significantly in price relative to Bitcoin, pulling other alts along with it.

Friends, make informed decisions and insure your deposits with stop losses. The market moves as it needs, not us.