BTC confirmed the bear flag breakdown with a 4.42% close- wick to wick more like 5.5%. Weekly RSI is at 14.74, right in the capitulation zone alongside the June 2022 low of 12.63 and December 2018 low of 13.17. We’re not at the bottom yet. BTC has only fallen 52% from its all-time high, and historically that’s not enough. Targets remain $60k, then $49k, then $35k. I’m watching for one more capitulation wick: long lower shadow, massive volume spike, deeply oversold RSI on the weekly. Three weeks since the last big volume week- we’re setting up for it.
ETH is falling harder as an alt, immediate support at $1,747 and $1,385, real target around $1,000. Stablecoin dominance broke above resistance with all four TBO lines pointing up- target 18%. OTHERS dominance is on the verge of the next dump. TOTALES lost $87 billion yesterday and OBV is now below the June 2022 bear market low.
DXY is confirming a TBO Close Short, setting up a bounce toward 100.261- more pain incoming for equities. S&P confirmed a TBO Open Short and closed down 1.04%, watching for a potential 14% drop to the weekly slow line. Dow Jones confirmed a TBO Close Long. VIX keeps putting in higher lows- something is about to break. Tesla is strong bearish below the daily cloud, targets $364 and $234. UK Oil has a TBO Breakout cluster with a target near $95. Gold closed up 2.32% with all four TBO lines pointing up. PAXG/BTC weekly RSI hit 93.94- the highest ever. The BTC entry is getting close.
TBO Breakdowns are piling up on the 4h and daily: XMR, SOL, HYPE (down 9%, target $20), ZRO confirmed Open Short, ALGO has three 4h breakdowns, PUMP and ARB both working on their third, MYX confirming another breakdown after a 31% drop, FARTCOIN down 17% with its third breakdown, GLM printing its second daily breakdown, ZEN has two 4h breakdowns.
PIPPIN pushed up 18% but hasn’t exceeded the Feb 15th high. RSI higher high is a warning. I’ve entered the short with about a 9% stop- I’m being greedy. BCH is printing its fourth weekly Close Long, target below $100. NIGHT is printing its second Close Long and RSI has already lost bullish structure. ASTER has a daily Open Long but I think it’s exhaustion- the 4h is already Open Short. MORPHO closed red and is on the verge of breaking its uptrend.
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