Transcription
We're doing a big check-in on the Altcoin market today with some indicators I appreciate. The Coin 50, we'll go look at that too, we'll see a little bit of what's going on. I'll also do a bit of a tour of the NFT market to show you key levels on a global view of Altcoins because we're on a very similar chart. Altcoins look extremely alike. Just before we start the analysis, I remind you that our algorithm service is still available. 31 TP for the Lim strategies last week and 8.04 for the SPT algorithms. To access it, it's free. It's the first link in the pinned comment. All useful links concerning my content will bring you back to this page. You just need to register on BitGate via our partner link by clicking on the second link. Here, you just need to click on "Register" and that will allow you to register on BitGate via our partner link. And then, I made you a little video right here. Algo trading mentorship VIP, Altcoin and crypto. I'll explain how to activate all your accesses for free. So that's a lot of content for you. My training, the mentorship, also the VIP, Altcoin and crypto on Discord. This is where I will share, from my point of view, the best opportunities on the market. Also, I made you a little form, please. Uh, you can fill it out, well, I ask you to fill it out, please. It would allow us to know on which platform we could make the algorithms available. So, you just have to check the platform you use the most, okay? And once it's done, you click on send. That will allow me to see on which platform we could simply make the algos available to you. The link to the Google Form will be in the pinned comment of this video.
So, to come here on the Alts, we are on the Coin 50. And why do I look at the Coin 50 a lot? Well, because it's an index that was created by Coinbase and that represents the market more or less in its entirety. What's good is that there was a wick, but we don't have the wicks to zero that we have on the Alts. So that allows for a vision that is still quite clear. Now, what you need to understand is that this index is starting to look pretty grim. So I'm just going to observe if we had a liquidity grab. I have the impression that yes, that's not good at all, to be honest. So we can see that we have rather ranged for several weeks, even several months. I would say we ranged from about August to October. So we had a sort of range, and the question is, is this re-accumulation or was it distribution and we are starting a bearish swing?
Well, first of all, what you need to see is that the fact that we came to take the stops and then we had a violent rejection can start to mark distribution rather than anything else. Now, as you know, I talked about it again today, it's BTC that will decide whether or not we start something bearish. I'm showing you BTC here for a few seconds. BTC USD Coinbase. Okay, right here. So already, it's a chart that is quite similar, okay? We can see here that we had liquidity grabs, liquidity grabs, rejection, we had pretty much the same things, except that here, there has been a break, a break that we don't necessarily see on our side on BTC. So that's fine, it's more than just the 50 that is impacted. Uh, but where I'm going with this is that if Bitcoin comes to break its order block here, well, it will start to form a breaker block and that would be more indicative of a bearish swing. And whatever happens, Coin 50 will follow and altcoins will very likely follow.
Now, on Coin 50, well, it's true that we've reached interesting zones because when we look at the weekly, we have indeed filled our last FVGs. Well, that's thanks to the big drop. We could come back and continue to fill FVGs without too much trouble. Now, it's true that what was done here, it still looks like a potential top, meaning a consolidation, a stop grab, and then a violent reversal with the break of the last bullish candle, the break of the range as well. So here, if we close like this, we can see that we were in a range that we would be breaking to the south, it would be more indicative of a bearish resolution. The level I'm going to show you will really need to be observed carefully. And it's exactly the same levels that we have on Bitcoin, Ethereum, and on a lot of Altcoins that I will show you later. It's the candle of the crash. In fact, as long as the market doesn't break the candle of the crash, there's no reason to have a short squeeze and a movement that goes against this bearish leg. However, if we manage to break this FVG, then yes, we can really expect a reversal and a new leg. So that's why it's crucial to break this FVG. And if you look closely, almost no crypto has managed to break this FVG. The only crypto that has succeeded, well, there are maybe two or three, there was BNB here. But the problem with BNB is that simply, well, in fact, it came to take the stops. So in fact, it formed an order block. We came to take the stops of the order block and we are forming a new order block. And so the problem here, well, is that in the end, it's just a simple liquidity grab, and the market is now returning to the zones that were supposed to hold. So even BNB in itself is starting to validate here more of a bearish continuation perspective and perhaps a retest of the wick. And BNB was one of the strongest assets.
Also, I'll quickly show you Solana, which is in exactly the same scenario. That is to say, we were rejected by this crash candle for now, and that's why we could come back to purge the stops here and simply continue our bearish momentum. Unfortunately, that doesn't mean it will be the case, but you see that on the entire global market, as long as we don't break this FVG, it remains a bit complicated. On, we see that it's exactly the same thing. So, the FVG is here. We see that we have been rejected for now. The total market cap, so that's the market in its entirety, it's the same. We see that we have almost closed the fair value gap, but we are being rejected. So all of this can be indicative of a retest of the wick. So here, I'm not going to do all the alts, but it's pretty much the same everywhere. You see XRP here. Well, take the tram token, same, very liquid, same, it came to close the fair value gap, it's rejecting. Tao. Yes, Tao is the only asset, the only asset, one of the different assets where it really pushed well above the crash candle here. And for example, on Tao, the zone to watch will be the last breaker block which is right here. Roughly speaking, if Tao is really bullish and is starting something bullish, Tao should not settle below its bullish fair value gap. Here, it's this candle that came to take stops. It's, well, with the crash, obviously.
Now, I'm on Mexc, which has a bit of a weird market making on Tao. Let's go to Binance right here. We can see that we had the stop grab and so on during the crash, and that behind that we have this big FVG, it needs to be held with the breaker. So the zone of 330 to 373. Here, that would be a good zone to relaunch upwards on Tao. By the way, there was a liquidity grab to be made here, it was done, and as soon as we did it, well, unfortunately, boom, rejection. So that's fine, you can see that it's a market that is just purging ends and not doing much else. Uh, for example, BGB, same, it's being rejected by, well, the entire global market. I think I noted SIUP, maybe if I remember correctly, which was a bit different, right here. Hop! Which also, yes, had managed to break this FVG, but it came to purge the stops. Same, we'll have to see, like Tao, if we can form an ascending low. Uh, what else was I going to say? I was going to say yes, there were projects like Esenix and so on that had, I think they want to launch a sort of, same, these big impulses must be maintained. Well, we see that there was the mega pump and that it's deflating. These impulses need to be maintained. So here, for example, if we start to see the thing start to consolidate well, it could possibly make a second leg. But there are very few coins that have signs of strength right now, honestly. So that's why these FVGs need to be broken.
When we look at indices like Oders, well, we've talked about it many times, but we were in these weekly FVGs, and here the thing is that we are in a divergence. I've talked about it many times, but it hasn't managed to go above the 2024 high with Trump's election. We can see that we have a divergence here that is quite strong. If Bitcoin marks a breaker block and starts to trigger a bearish swing, Oders will retest its support. Here, in fact, it means we will fill almost the entire wick. You need to understand this well because we are on a divergence that is quite strong. Uh, we would have liked to see a new high on Oders. The fact that we just filled the fair value gap and are attacking downwards again, that's not positive. And the thing that's not good. After all, again, it's the wick that caused this kind of damage. So we don't know if it's just because of the crash or if the signals are really confirmed. That's what happens when there are a bit weird things happening on the market. But roughly speaking, in fact, Bitcoin hasn't formed its breaker block yet, but the problem is that Oders has formed its. That is to say, here, you have a breaker block that has formed. And in fact, this breaker block, well, it's marking the inversion. I'll even note it for you like this. But here, we have a breaker. So, which puts an end to the momentum of, so that means that altcoins on a weekly basis are generally resuming bearish momentum. So this signal is not yet confirmed on BTC. We hope it won't be the case because that's what can save the Alts. If Bitcoin doesn't validate its breaker block and calmly goes back up, well, altcoins could be saved in this FVG and not necessarily respect this breaker block. However, if Bitcoin confirms its, well, we see that altcoins are weaker. You just need to divide by BTC, simply here. And we realize that it's always a bearish momentum against Bitcoin. So who will be impacted the most? The Alts, not Bitcoin, simply. So, well, that's what makes it not positive, you see, the fact that we have confirmed the breaker. So frankly, the situation is not great. After all, obviously, it can change at any moment because Bitcoin is at key levels and on the Alts, it can follow Bitcoin quite quickly.
Now, we really need, pardon me, for it to wake up very, very, very quickly on BTC. We don't want the market to trigger the breaker block. I remind you that we are right, right on the order block again. This is where we must be held to avoid forming the breaker and try to go back up. That would be the best possible signal on BTC. Also, I repeat, keep a close eye on the US indices which have been rejected at key levels and which are now putting pressure to the south. Hoping that this can react, for example, at yesterday's low right here, to put an end to this decline and allow Bitcoin to also form a good rebound and then perhaps its bottom, since I remind you that the stops were taken, it was shown in orange, it was triggered, and since then there has been this rebound that is taking place which is rather nice, but we don't want the indices to spoil everything because if the indices start to accelerate, there will probably be a new bearish attack, and so we were talking about it at the beginning of the week, but if that were to happen, it would be a retest of the wick.
So, up to where, I don't know. But roughly speaking, really, if these opportunities present themselves to you, the interesting zones are the reloading zones for rebounds. If we are really led to go there, so you have the first stop that you can locate for example on XRP, it would be 2.11. And then if we come back to the reloading zone for the entire movement, then it's interesting, 1.79 to 1.54. So you take that on any asset. Even Tao, for example, if it's really meant to retrace, you take your RLZ. You see that here the 618 would allow to fill the entire FVG, 334 dollars. Well, it's not impossible that we'll get there. Uh, since the top, we've already dropped 21% here. Take BGB. And well, BGB, there wasn't a very deep wick, but all those that had big wicks, you can take your RLZ and say that yes, these can be interesting zones if we come back there because people will panic. I was talking about it, but what happened during the crash is that, well, we couldn't even connect to the exchanges. So it's mainly those who had leveraged positions who got liquidated, but those who have spot, they didn't have time to panic. You have to realize that investors who have spot will probably panic if we come back into the wick. Because psychologically, people will think what? It's starting again for a second leg, I'd better sell now before we drop another 50%. Whereas precisely, this is where the market could form its bottom and calmly start to develop it, and people would sell the bottom because they didn't have time to panic on the wick. So that's not impossible. I'm not saying it will happen. Again, it's just a potential scenario, and this is not where you should panic. But if you have cash, this is precisely where you can position yourself at interesting prices.
After all, don't forget that you are buying assets in bearish dynamics. So you have to choose your assets well, assets on which you have conviction, for example, where you fundamentally think it's solid and so on, or it generates large revenues, like AAVE, hyperliquid, and so on. Uh, for example, if hyperliquid is meant to retest this wick, well, a reloading zone for the entire movement on hyperliquid is around here, around 29 to 25. We would be at very interesting price levels because we would also be in the big monthly FVGs here, big monthly FVG, so the RLZ plus monthly FVG, that would be a really good zone. I don't know if we'll get there again, as you know, I don't predict the future, but just factually, these would be objectives and good zones to position yourself. And then of course, BTC is still to be observed, it's important because for the moment, the altcoins against Bitcoin still indicate a bearish momentum, and likewise, a good signal on altcoins against Bitcoin that would indicate that the Alt market has the capacity to regain strength against Bitcoin would be precisely the disrespect of this FVG. If we continue to respect this FVG, which is the most probable, it's to retest this wick a bit and therefore have an altcoin market that will continue to weaken against Bitcoin and therefore have a Bitcoin dominance that will, well, rather come to retest the wick upwards, simply. So in fact, if we retest the wick downwards on altcoins, we will have a retest of the wick here on BTC, so on BTC dominance. And what you need to look at is not just Bitcoin dominance, but the market cap, the evolution of the market as a whole. The worst-case scenario for altcoins is a total market cap that goes down. So here, I've shown you the total market cap with Bitcoin dominance rising. If we do that, what does it mean? It means that money is leaving the crypto market, simply, and that the assets that are most impacted are, well, altcoins, Ethereum, and so on. Because if Bitcoin dominance retests the wick and Total Market Cap retests the wick downwards, it means that altcoins are suffering more from this bearish leg than BTC and potentially Ethereum.
So here, you look at Ethereum dominance, then you look a bit at what's going on. We see that Ethereum dominance here, it's not falling. So here, you see, we see that it's really targeted at the alts. Because if I put Oders.D, so that's altcoin dominance, we clearly see that it's attacking south again, whereas Ethereum, that's not the case. So here, on this bearish leg, which assets are most impacted? It's altcoins. It's not necessarily Ethereum or Bitcoin, because we can see that it's mainly falling on altcoin dominance, simply. And so, you literally need to maintain this, well, you don't need to maintain this daily FVG. If we are meant to break it, it would be very positive for the Alts, it needs to be broken. So Bitcoin at key levels, the weekly order block. Altcoins have already formed their breaker block for the majority because we look at Oders, and so Oders has confirmed it. That's not good at all. But Bitcoin can really save the day here if we get a good reaction on its order block. However, if it becomes a breaker block, well, we'll have to expect, even on assets like BNB, retests of the wick. And well, honestly, it seems to be heading back to retest the wick. To be honest, on BNB, given what it did. After all, this is the crypto market, it's not the cleanest price action, okay? But here, we can see that the fact that we didn't maintain this bearish FVG that was broken, this bullish FVG, could indicate a retest, a retest of this level of $1070. So still a bit of pressure on BNB. There's a BNB that explodes and everything, and then starts to drop a bit, well, that indicates that the crypto market is a bit weak. And above all, keep a close eye on the US indices, it's important because if the indices make another leg, technically, there's everything needed to make another bearish leg. Here, we've filled the FVG, we haven't managed to make new highs. Uh, if we make a second bearish leg, that's not good at all. So it's really, I want to say, the key signal, okay? These are also indices, it's very important. Look closely at the NASDAQ, S&P 500 to see where we are.
I'll stop here for today. I hope you enjoyed it. If so, don't hesitate to bombard the thumbs up, subscribe, leave a little comment. Thank you very much to those who play along. I remind you of all the links in the description box. Also, please, the form, it takes you 10 seconds of your time and it helps me a lot to see on which platform we could put the algos, possibly. Don't hesitate, it's the first link in the pinned comment. Well, the second link in the pinned comment. Check all that. Thank you very much. We'll stop here. See you soon. Have a good day.