Crypto Market Update

BTC

BTC was not able to bounce to retest the lost bear flag. Showing that there is no buying pressure at all in these zones.

For the moment, we are again at the support level of the bear flag. From here, it looks like we can break down to go to lower levels.

BTC Dominance

Dominance continues its ascending momentum and is now at horizontal resistance of the main channel that we have had since last year. RSI is too high so that should have to be an important level.

ETH

ETH lost support and is now in free fall to the 1K level. It did not make the bullish movement to retest the lost bear flag either.

CONCLUSION

Seems that there is a lack of interest from investors, not only in crypto, but in traditional markets as well.

Things are being precipitated to lower levels, which can lead us to the capitulation phase maybe sooner than we were expecting.

Patience and not trying to catch the bottom are the best attitude to develop in these kinds of markets.