BTC and ETH still on bullish ascension, ALT's are wrek't

BTC is looking at support around $62,500 and ETh around $3200, both charts look fine, they are in a short term descending channel but still well above a very strong long term ascending trend line. On the other hand, Alts look abysmal, many have broken their long term support and recently lost their 200d moving average and now the only significant thing for them to cling on to is the low they were at before this rally started last November. Some alts are already pretty much near or at their price before this rally started and are threatening start heading even further down, not only losing gains from this run but adding to losses from their previous footing.

BTC Dominance suggests we may see ETH and some alts run for a little bit now but it is also looking like it could break its resistance which would mean a big run up in btc dominance, many times that happens from the whole market crashing but BTC crashing less, I am just not sure there is enough market cap left in alts outside of ETH which is hardly an alt anymore.

Here we see BTC dominance flirting with a break out, as long as she pulls back we should see money flowing into ETH and alts for a little bit but a break out here would likely be pretty negative.



Here is some examples of broken down alts that have given back most or all their gains in this last rally and threatening to lose more, but these assets are just examples, it appears most alts look like this.

Many alts look like this where as they have already lost pretty much any gains from the last 9 months and looking to set some new lows for the last couple few years.



There are some alts that ran really hard like RNDR and SOL which still have a positive trajectory but keep breaking down and look like they could head to a much lower footing.






It seems like being conservative, exercising great caution before entering a long position would be prudent with the current market condition. The big assets BTC and ETH still seem positive if you are keeping something in crypto right now, these have proven to do much better over this most recent pullback than alts and meme/shit coins. Always do your own research and come to your own conclusions for making any investment or trading decisions, this is not investment advice.