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Wise Analyze
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#BTC dominance got to the upper trendline of this rising wedge. Won't try to forecast how low it can retrace from here, but it should. So that theory alone gives us condition for longs in alts. At least against #Bitcoin. And for trending coins against USDT as well.

#BTC dominance got to the upper trendline of this rising wedge. Won't try to forecast how low it can retrace from here, but it should. So that theory alone gives us condition for longs in alts. At least against #Bitcoin. And for trending coins against USDT as well.

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#Bitcoin almost cleared the lowest liquidity zone I've marked out yesterday and bounced 👌🏼 That price action correlated with Nasdaq move, although the last one looks slightly better than $BTC now. And Dollar Index closed yesterday with breakout from rising wedge (mostly caused by EUR dump). So what does it tells us? It says that market is in unpredictable state. Stocks and BTC move sideway in choppy range, while DXY constantly giving hints on its bullishness, while not totally killing the market, as its bullishness is mostly connected with other fiat currencies weakness. Now #BTC under March close which act as SR. Breakout will lead to another re-test of range top. And for no special reason I feal that we should see that happen. And ~69850 act as support that divide chart between that top re-test and drop back to the bottom. So short term bullish while above, yet we may see more choppiness even within this narrow range. Nearest liquidity pools: above - 71500-71800 / 73150 below - 70330 / 69515 / 68600 SR levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼 🤑 F&G: 79 < 76 < 78 < 80 < 76
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#Bitcoin dipped to the middle of range and bounced. As you can see from week chart situation looks pretty different from what was yesterday. That is a reminder for you always keep in mind and monitor higher timeframes before going into panic 😎 Now we should watch how $BTC will react to clearing liquidity at ~71500-71900 - that is the nearest and most dense area which will either be used to realize profits from dips taken under 68k or as liquidity to push price even higher. Dollar Index closed yesterday with strong bullish bounce from March open at 103.72 and looks bullish on Month, Week and Day timeframes, although it has left a wide gap at 4H. So even with short term pullback, it possess danger of pumping higher. Keep that in mind - #BTC bullishness has huge support from halving event, but still is under pressure from Dollar. Nearest liquidity pools: above - 71500-72000 / 73150 below - 69885 / 68600 / 67280 Nearest levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼
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#Bitcoin now is within first potential bounce zone. The one that can keep the bullishness for this week candle and keep the chances for ATH breakout next week. As I described yesterday, if that zone won't hold $BTC price, next nearest level is at March 25th week open around 67260. Correlates with middle of the range and therefore leaves a chance for a bounce. Scenario for return back to the bottom of the range becomes valid after #BTC price start trading below that equilibrium around ~67260. And this time chances to drop lower to 61k will be higher, than on previous swing. Nearest liquidity pools: above - 69800 / 71600 / 73150 below - 68500 / 68040 / 67030 Nearest levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼 🤑 F&G: 78 < 80 < 76 < 78 < 75
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#Bitcoin grown to the top of the channel/range, hit 72890, and now pulling back to SR zone around this week open at 69363. So in bullish scenario BTC find support here and bounce for re-test of ATH. In case of breakout no resistance above, so can pump anywhere. Another scenario is $BTC dumping through nearest support - in this case next nearest level is at March 25th week open around 67260. Correlates with middle of the range and therefore leaves a chance for a bounce. Scenario for return back to the bottom of the range becomes valid after #BTC price start trading below that equilibrium around ~67260. And this time chances to drop lower to 61k will be higher, than on previous swing. Nearest liquidity pools are obviously above 73150-73550 and for the dips under 68850k, 67k and 65k Nearest levels to watch PA: 🔸73881 - ATH 🔸71363 - March close 🔸69362 - week close 🔸67260 - week close 🔸66400 - Nov'21 dump week high 🔸64300 - February high 🔸63178 - week close 🔸61203 - Feb'24 close Trend: 4H 🔼 D ▶️ W 🔼 M 🔼 🤑 F&G: 80 < 76 < 78 < 75 < 79
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Target zone for $ETH reached ✅ Long setup played out for the second time and gave another 2:1 RR 👍 Same as with #BTC , last #Ethereum 12H candle closed bullish, so no sense in expecting it to dump within nearest 12-24 hours. I believe we may see it grow higher, even if there will be a rejection (Wednesday FOMC). If you still hold that #ETH long, look for 2022 high at 3893 as the nearest target. But since its the top of bull pennant range, make sense to skip it and give it a chance to breakout higher to 4600 at least. Target for ATH breakout is around 6100. Stop remains at breakeven.
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