Cryptocurrency Technical Review

Feb 11, 2022 • 7 Min Read
The chart in this report is only accessible to members
The chart in this report is only accessible to members

Key Takeaways

  • Cryptocurrency rally looks to have temporarily stalled out after a sharp three-week rally.  Ethereum has stalled out in its relative performance vs Bitcoin, and for now, Bitcoin is an outperformer over Ethereum and should be favored. 
  • Weekly momentum remains negative and Cycle composites start to turn lower in early March into April/May, so given low retail interest and not many inflows, this could limit the larger rally continuing to all-time highs in 1H 2022.  A Spring low looks likely.
  • BTC, ETH, MATIC, SOL, LINK and XTZ analyzed along with support/resistance

Support/Resistance and Technical Data

The chart in this report is only accessible to members
Bitcoin (BTCUSD )  Bullish, but rallies likely encounter resistance into late February.  Bitcoin remains in a near-term uptrend following 2/4’s move back up above 39,558 which turned trends positive.  This was a constructive development technically speaking, with prices having recouped former lows from 1/10/22 along with surpassing the downtrend line that has been ongoing since early November.  Moreover, the degree of positive correlation with Bitcoin to US Equities looks to be ongoing and both began to turn back higher in late January.   Key resistance o...

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Bitcoin (BTC) broke out of its triangle pattern today, Monday 11/8, and could set a new all-time high close above 65,990.31.Relatively speaking, BTCUSD should begin to gain in relative strength based on a minor breakout in its Dominance chart which should help its market capitalization start to pick up speedLTCUSD, ALGOUSD, and LINKUSD all should be favored for gains in the weeks ahead as these are making favorable technical breakouts...

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