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(BTCUSDT 1W Chart)
Support levels for maintaining an uptrend are:
1st: 104463.99-108353.0
2nd: 87814.27-93570.28
Support must be found within the first and second levels above.
To rise above the right Fibonacci ratio of 2.618 (133889.92), which is my target level, the price must rise above the uptrend line (1) and maintain its position.
In other words, the price must rise above the HA-High indicator level of 116259.91 on the 1W chart and maintain its position.
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(1D Chart)
The key is whether the price can find support near 10443.99-108353.0 and rise above the 110644.40-111696.21 range.
If the price fails to rise, it is highly likely to fall further, so we need to consider countermeasures.
Since the M-Signal indicator on the 1W and 1D charts is passing near the 110644.40-111696.21 range, I believe the trend will likely be determined by the presence of support.
The HA-High ~ DOM(60) range on the 1W chart is formed within the 116,259.91-119,086.64 range, while the HA-High ~ DOM(60) range on the 1D chart is formed within the 120,760.81-124,658.54 range.
Therefore, the 116,259.91-124,658.54 range is likely to act as resistance.
Therefore, I believe a surge in capital is needed to break above this range.
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Therefore, I believe BTC dominance should rise while USDT dominance should decline.
If BTC dominance rises, most altcoins are likely to move sideways or decline, so altcoin trading requires a strategy to counter this.
BTC dominance is likely to rise to around 61.73,
USDT dominance is expected to fall below 4.55 and break above the resistance level.
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If both BTC and USDT dominance decline simultaneously, an altcoin bull market could begin.
However, BTC dominance must decline below 55.01, and USDT dominance must also decline below 4.91.
The next period of volatility is expected to occur around October 25th (October 24th-26th).
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Thank you for reading.
We wish you successful trading.
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– This is an explanation of the big picture.
(3-year bull market, 1-year bear market pattern)
I will explain in more detail when the bear market begins.
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