Bitcoin (BTC) continues to wrestle with key resistance near $95,000, while altcoins are flashing bullish momentum across the board—raising the question: is BTC due for a pullback, or is the broader crypto market preparing for its next leg up?
BTC closed higher yesterday but failed to break above the psychological $95K mark. Price action showed a lower low beneath $92K despite a green daily close—suggesting weakness. The Relative Strength Index (RSI) remains overbought above 70 but is now sloping downward with lower highs, reflecting waning momentum.
Adding to the caution, volume has consistently failed to surpass its 30-day moving average since April 25, and the 4-hour chart has flashed a new TBT Bearish Divergence Cluster, the first since Bitcoin’s $109K peak in January.
While BTC still holds above the daily TBO Cloud—maintaining bullish structure—the inability to clear $95K raises the likelihood of a retracement toward the $82,000 support zone unless bulls step in with a decisive breakout.
While Bitcoin hesitates, altcoins are showing life. TOTAL3, the index tracking total crypto market cap excluding BTC and ETH, just printed a TBO Open Long—its first since September 2024—marking a potential trend reversal.
OTHERS.D, which represents altcoin market dominance, is also attempting to print a TBO Open Long, suggesting early signs of a broader altcoin recovery. However, RSI on OTHERS.D is approaching ascending support and needs to hold for the bullish case to remain valid.
Historical patterns from late 2024 suggest that short-term chop may precede a major move higher.
Volatility tracker BVOL7D is drifting back into its historical “Bounce Zone”—a key setup seen just before Bitcoin’s explosive rally in Q4 2024. Combined with the alignment of other key indicators, the market is beginning to resemble its pre-breakout phase from last November.
Bitcoin stands at a make-or-break moment. Without a close above $95,000, a correction to $82K is highly probable. However, altcoins are showing increasing strength, with technical breakouts and bullish signals across multiple indicators.
Traders on www.DailyForex.pk should remain agile—secure profits but watch for confirmation of a broader altcoin breakout.
Stay tuned to www.DailyForex.pk for real-time crypto insights, market forecasts, and technical analysis you can trust.
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