Bitcoin Shows Resilience Amidst Stalling Momentum
Despite a TBO Breakout earlier this week, Bitcoin's momentum has slowed, though it maintains a bullish stance by holding above the daily TBO Cloud. Key observations include:
- Volume: Hovers near the 30-day moving average.
- RSI: Elevated but not consistently overbought.
- OBV: Slight weakening, though the weekly chart remains positive.
Last week’s candle closed with an RSI above 70—a historically bullish signal—suggesting continued upward potential barring a major pullback.
Ethereum Outshines Bitcoin with Stronger Performance
Ethereum’s current outperformance against Bitcoin is evident in both price action and technical indicators:
- Daily RSI: Overbought for 7 consecutive days.
- Volume: Trending above the 7-day average, boosting OBV’s moving average.
- Weekly Chart: Bullish OBV crossover, RSI nearing 70, and volume surpassing the SMA.
The ETH/BTC ratio is also robust, nearing a close above the 0.236 Fibonacci level, supported by 4h TBO Breakouts.
Sector Rotation Signals: Stablecoins and Dominance Charts
- Stablecoin Dominance: Bearish trend persists below the daily TBO Cloud, indicating renewed risk appetite.
- Bitcoin Dominance: Consolidating bearishly within the daily Cloud, potentially entering the weekly Cloud soon.
- Top 10 Dominance: Weekly RSI approaches a breakout above long-term resistance, hinting at future strength.
Altcoin Sentiment Remains Constructive
OTHERS.D dipped -2.64% with a 4h TBO Close Long, hinting at short-term volatility. However, broader metrics stay positive:
- Daily Volume/OBV: Healthy trends.
- Weekly Volume: Exceeds SMA, reflecting strong demand.
TOTAL and OTHERS Market Caps: Bullish Signals
- TOTAL Crypto Market Cap: Overbought weekly RSI, rising volume, and price firmly above the TBO Cloud.
- OTHERS Market Cap: Slightly down daily but supported by 2x average daily volume and weekly volume surpassing SMA.
BVOL7D Suggests Short-Term Consolidation
BVOL7D closed red, signaling reduced volatility. While RSI curls downward, this points to consolidation—not a reversal—before the next move.
Gold’s First TBO Close Long Since November
Gold printed a daily TBO Close Long, its first since early November. This may reflect hedging behavior amid crypto rallies and macroeconomic tensions.
FAQs
1. Why is Ethereum outperforming Bitcoin?
Ethereum’s stronger momentum, higher volume, and bullish technical crossovers (e.g., OBV) drive its relative strength.
2. What does stablecoin dominance indicate?
A bearish trend suggests investors are moving away from stablecoins into riskier assets like BTC and ETH.
3. Is Bitcoin’s dominance likely to drop further?
Yes, if it enters the weekly Cloud—a first since November 2024—signaling altcoin gains.
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Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.
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