Is your portfolio BTC focused right now?

 Bitcoin now above its 200 day, 200 week moving average. Let’s see what being above 28, 000 means for some of these altcoins I’m looking at today. Bitcoin dominance is rising, so very few altcoins look really good. I’m still looking at Stacks as my cherry ripe because of that layer 2 narrative on Bitcoin. So when Bitcoin runs, Stacks will run and I think Bitcoin right now is the safest highest liquid, high market cap bet you can have right now leading into ETF season.

So the stack’s very, very similar to Bitcoin’s chart. I’ve drawn a very simple Fibonacci retracement over it. I think if we break this trend line and close beneath it, we’re coming back down to 0. 618 5384 level and then 52 maybe, but I think we’ll get front run a little bit before this resumes up, just like Bitcoin.

Ethereum Wonder Watch, love that lower risk look to it, but it is still grinding lower and it is still. Really frustrating. This strong bull divergence has not played out yet. I don’t know if we’re going to see that major trend reversal until Bitcoin has its move. And we see that rotation from dominance start to float into altcoins.

But right now, just looking at this, just slow grind, lower, lower, lower. All these wicks, all these moves just going lower, lower, lower. Meanwhile, the RSI momentum is grinding higher. So we could continue to grind a little bit lower into that 14. 90 area before a big bounce. But I think longer term investors need to be looking at this because eventually when Bitcoin does Move higher, top out, all that.

Ethereum should get that rotation. But also look to the downside too, if Ethereum breaks around that 1528, that previous low, and starts to grind a little bit lower, I think it’s going to this 1423 and then 1335. So divergence is not the be all and end all, but on the daily I really pay attention. Right now the overhead resistance is really strong.

That longer term trend though you don’t want to lose it. And it looks like right now we are. Keep that in mind. Danger zone is MADEC this week. I can see a pretty clear descending wedge. Really don’t like it. And I think if the RSI breaks down from this very clear level, just like price is just going sideways, I think then this breaks that support fine when we go lower.

But that’s it as well. On the flip side, this is a danger zone, but it is that key support. And again, this is going sideways where momentum is growing. So there is a chance. If it breaks through these moving averages, then capital will flow in and it breaks this trend. But right now, the proof is on the bulls to actually change this momentum and trend because it is just one way down and then MATIC goes lower.

Thanks for watching.