Cryptocurrency Technical Review
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
Reports you may have missed
Bitcoin looks to strengthen relatively speaking after nearly a month of lagging
Bitcoin ($BTC) broke out of its triangle pattern today, Monday 11/8, and could set a new all-time high close above 65,990.31.Relatively speaking, BTCUSD should begin to gain in relative strength based on a minor breakout in its Dominance chart which should help its market capitalization start to pick up speed$LTCUSD, $ALGOUSD, and $LINKUSD all should be favored for gains in the weeks ahead as these are making favorable technical breakouts...
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