Don from TechnicalRoundup breaks down the current state of the crypto market, focusing on Bitcoin’s breakout retest, Ethereum’s relative strength, and broader altcoin weakness. He shares his technical views across timeframes and outlines potential trade setups in a market hanging at a key inflection point.
Key Takeaways:
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Bitcoin Monthly Still Bullish
The monthly chart closed strong and remains in a solid uptrend. As long as the 94K to 102K zone holds, the high-timeframe outlook remains positive. -
Weekly Showing Signs of Weakness
Unlike ideal breakouts, Bitcoin’s immediate retest of the breakout level around 104K suggests a lack of momentum. Still bullish for now, but less convincing than the monthly. -
Daily Chart the Weakest
Bitcoin failed to hold above resistance and is now in a choppy range. If 98K to 101K support breaks, a quick move to 90K is likely. -
Key Levels to Watch
Bulls want to see 100K hold. Bears are watching 106K as the key level to invalidate the false breakout. A close above 110K would flip the short-term view bullish. -
ETH Looks Stronger Than BTC
ETHUSD is showing constructive price action. ETHBTC reclaimed support, hinting at potential outperformance. ETH holding 2.2K is a good sign on the monthly. -
ETHUSD Could Lead to ATH
If ETH can break above the 2.7K to 2.8K range, there's little resistance until 4K. A break could lead to a new all-time high. -
Altcoins Still Struggling
Most altcoins look weak against BTC. ETH and XRP are among the few showing relative strength. Solana, AVAX, LINK, UNI, and others are bleeding out on BTC pairs. -
Memecoins Pulling Back
Memes like Pepe and Doge are correcting after strong runs. Pepe is at a key support zone, while Doge looks weak. Meme strength depends heavily on Bitcoin stability. -
Market at a Pivotal Moment
The next week or two will determine direction. If Bitcoin holds support, all-time highs are possible. If it breaks down, expect a meaningful correction. -
Macro and Saylor Risk
Don warns that the macro picture and heavily leveraged positions like Michael Saylor’s could pose serious risks in a future bear market, even if not immediate.
Outro:
Don wraps up by emphasizing caution. While higher timeframes remain bullish, cracks are appearing on lower ones. He encourages viewers to manage risk, watch key levels, and be ready for a big move either way.
