These are the currently levels to watch on the Weekly timeframe for ETH/BTC.
A break above the current block will mean we're headed up to the next Liquidity block = Party time for ALTCOINS!
Failure to break it, we may have a big retrace and head lower and see a retrace in Ethereum and other Alts.
Bitcoin Dominance is also something to watch - Bitcoin Dominance is Bitcoin’s value relative to that of the whole crypto market. It takes Bitcoin’s market capitalization compared to the market cap of market cap of all Altcoins.
Coinmarketcap.com explains it like this: " Let's imagine that the total market cap of all cryptocurrencies currently stands at $100 billion. If Bitcoin's market cap represented $60 billion of this, Bitcoin's dominance would stand at 60%. "
We are more in favor of breaking higher but will have to wait for a Weekly break above the block to confirm higher upside.
Join our Discord community for more crypto trade ideas! We have done well in MATIC LONGS (Polygon) lately.
forexlens.com/discord
A break above the current block will mean we're headed up to the next Liquidity block = Party time for ALTCOINS!
Failure to break it, we may have a big retrace and head lower and see a retrace in Ethereum and other Alts.
Bitcoin Dominance is also something to watch - Bitcoin Dominance is Bitcoin’s value relative to that of the whole crypto market. It takes Bitcoin’s market capitalization compared to the market cap of market cap of all Altcoins.
Coinmarketcap.com explains it like this: " Let's imagine that the total market cap of all cryptocurrencies currently stands at $100 billion. If Bitcoin's market cap represented $60 billion of this, Bitcoin's dominance would stand at 60%. "
We are more in favor of breaking higher but will have to wait for a Weekly break above the block to confirm higher upside.
Join our Discord community for more crypto trade ideas! We have done well in MATIC LONGS (Polygon) lately.
forexlens.com/discord