Picture this: the new week opens and $BTC is once again pressing against that $98,000 ceiling it has tested four times since March.
Every trader I know is staring at the chart wondering if this is the breakout or another fakeout that leaves them holding bags after FOMO-ing in at the top. We've all been there, buying the dip that wasn't and watching the majors dump 15% overnight.
In 2021, $BTC hit similar resistance around $64,000 three times before finally punching through to $69,000, only to reverse hard a month later. $ETH followed a similar pattern, lagging by a few weeks each time. The difference now is the volume, with 40% less participation on these tests compared to last cycle.
This time around, $SOL has already broken its own all-time high while the majors stall. That's the comparison that stands out. When smaller names lead, it often signals rotation rather than a broad market breakout.
We learned in 2017 that Bitcoin dominance dropping below 40% usually preceded altseason, but it also marked the top for many. What we can take from this is that the majors breaking their ceilings has historically required a real catalyst, not just another Monday arriving.
Where do you think this goes from here?
#Bitcoin #Ethereum #Crypto
Every trader I know is staring at the chart wondering if this is the breakout or another fakeout that leaves them holding bags after FOMO-ing in at the top. We've all been there, buying the dip that wasn't and watching the majors dump 15% overnight.
In 2021, $BTC hit similar resistance around $64,000 three times before finally punching through to $69,000, only to reverse hard a month later. $ETH followed a similar pattern, lagging by a few weeks each time. The difference now is the volume, with 40% less participation on these tests compared to last cycle.
This time around, $SOL has already broken its own all-time high while the majors stall. That's the comparison that stands out. When smaller names lead, it often signals rotation rather than a broad market breakout.
We learned in 2017 that Bitcoin dominance dropping below 40% usually preceded altseason, but it also marked the top for many. What we can take from this is that the majors breaking their ceilings has historically required a real catalyst, not just another Monday arriving.
Where do you think this goes from here?
#Bitcoin #Ethereum #Crypto
