Bitcoin bullish as altcoin warnings form but remain unconfirmed
Bitcoin has confirmed its close above the old TBO Resistance, signaling continued bullish momentum. On Monday, the cryptocurrency created a new resistance level, with analysts suggesting two equally likely scenarios: a break below the short-term support fan line or an ascending-wedge breakout toward the 0.618 Fib level at $93,650.
Meanwhile, altcoin-dominance warnings are forming but remain unconfirmed. The OTHERS.D index, which measures the market share of smaller altcoins, is working on a second TBT Bearish Divergence. However, the daily candle still has about 18 hours left, meaning the warning is not yet confirmed. Similarly, the TOTALE100.D index, which tracks the market share of the top 100 cryptocurrencies, is also forming a TBT Bearish Divergence.
Despite these warnings, the overall market-cap momentum remains strongly bullish. The TOTALE100's dollar market-cap chart has its TBT Wave above 6, indicating bullish momentum. The U.S. Dollar Index (DXY) has confirmed a second breakout, which could potentially act as a catalyst for a sudden crypto dip.
Binance Coin (BNB) is working on another TBT Bearish Divergence Cluster, but its chart remains strongly bullish. Analysts see the Slow line at 646.01 as a potential dip-buy zone if the Fast-line bounce fails.