A Quick Look At The Crypto Markets - 20/05/25
Good morning!
Here's a little market analysis for this morning. This isn't financial advice, but more like me putting my thoughts on paper to make more sense of the rapidly changing crypto market. Still, I do hope you get some inspiration out of it to help with your own analysis! I might very well make this a daily routine, so let me know in the comments how you like this kinda short analysis format.
Let's get to it!
BTC
After a strong Sunday performance and a volatile Monday, $BTC closed the day with a long-wicked candle. Today, we've seen Bitcoin pushing higher, touching $106.5 resistance level. While volume is declining, I'm looking for BTC to turn $105 level into support and perhaps if the NY stocks continue strongly, we might see a break on the upside and a push toward a new ATH.
BTC Dominance
The Bitcoin dominance has been steadily rising, giving altcoins some trouble. The green area here is one to watch. Bouncing from it would mean more pain for alts (especially if BTC gets rejected), breaking the support will create a lower low, indicating interest toward alts.
USDT Dominance
I use this chart together with BTC.D to try to anticipate whether there's some relief coming in for altcoins. At the moment, USDT.D seems to be ranging or slightly in an upward trend. Investors are still cautious.
A break below 4.5% would make me more interested in alts again.
ETH
The price of ETH on a 4-hour chart is still downtrending, although it seems to be breaking the descending trendline. To validate the shift in trend, ETH needs to create a higher high (above the green zone) and a higher low after that.
Even if you aren't directly invested in ETH, it's good to keep an eye out for its performance. If ETH does well, it'll eventually lead to other alts performing well and perhaps even triggering an altseason.
HIVE
The $HIVE price has been making relatively big moves lately, and I have been selling high and buying low.
I didn't quite catch the latest bottom, but made a buy before that and now targeting the green zone in the pic below. This would be a higher high while after that, I'd be looking if HIVE could turn the 0.2650 level into support before making new moves.
Note that the Stoch RSI points to overbought, so probably a small pullback before going higher.
Conclusion
I'm probably going to wait until NY opens later today, looking if stocks continue to rise and looking for BTC to turn $105k into support. Staying away from leverage and alts until I see a downtrend in BTC.D & USDT.D and ETH creating higher highs.
Thank you for reading, and let me know which coins/charts you want me to include in the next analysis!
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