Cryptocurrency Technical Review
- 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
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Bitcoin looks to strengthen relatively speaking after nearly a month of lagging
Bitcoin (BTC 2.27% ) 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...