Meanwhile, the BTC rate is updating yesterday's low - already $95,007.
The "perfect storm" for altcoins continues - the fall of the#BTCrate and the growth of its dominance above 59%. For now, as I wrote, the reversal of dominance on the daily chart can be set even on the evening of December 22, this will be the norm.
The "Dragon" that was written about yesterday is broken on the BTC price chart. If the night range still left chances for working out - the hourly candle that just closed - no longer. Sales are too strong, breaking both the Strong signal of a potential low on the hourly TF, and the potential low already on the two-hour TF.
The price is being pulled lower against our expectations. Once again - expectations are one thing, and the trend according to the indicator signals is another. And most often it is simply stupid to argue with it.
We have to admit that until the trend resistance from December 17 is broken through, it is impossible to confidently talk about#BTCreturning to growth. This line currently runs at $100,352.
Potential triggers now for earlier (and riskier) reversal catching:
- transition to a stable uptrend according to our indicator on the hourly TF (the signal of a stable downtrend according to it on December 18th already gave as much as -9.6% movement),
- EMA 50 day TF test (currently $92,980),
- test of the volume level of $91,306, which in the past has already acted as an important volume and mirror level,
- signals (already repeated on this decline) signals of potential deadlock on the 4-hour TF (can be expected closer to the evening),
- withdrawal of liquidity for the December 9 low ($94,150).
Moreover, the key and less risky one for us personally is the indicator signal about a stable uptrend on the hourly TF.
In fact, it still does not fit into the expectations that the low of December 9 can be rewritten. But the price is too close. It remains to hope that the reversal signals of dominance on the daily chart will work out on December 20-22 and reverse the price.
