Bitcoin (BTC) Maintains Momentum Despite Resistance at $106K, Ethereum (ETH) Faces Challenges

Bitcoin (BTC) has maintained its momentum, closing nearly 4% up yesterday despite hitting resistance at $106,000. While this rejection at TBO Resistance is notable, the overall sentiment remains bullish, with daily indicators like the TBO Cloud, OBV, and volume showing strength.

Bitcoin maintained its momentum on Friday, closing nearly 4% up despite hitting resistance at $106,000. While this rejection at TBO Resistance is notable, the overall sentiment remains bullish, with daily indicators like the TBO Cloud, OBV, and volume showing strength. The weekly chart also continues to signal a healthy uptrend.

The key level to watch now is $100,000, which serves as a critical support. A break below could lead to leveraged long liquidations, but so far, Bitcoin has shown resilience.

ETH Faces Challenges Despite Optimism

Ethereum remains a point of contention, with some seeing buying opportunities. However, ETH has struggled to overcome key resistance levels, including the 0.786 Fibonacci level at $3,375 and TBO Resistance at $4,007. The lack of momentum is surprising, especially given its integration into World Liberty Financial's ecosystem.

Ethereum's underperformance raises questions about internal strategy, especially as the broader market trends upward.

Dominance Charts Signal Mixed Market Sentiment

Stablecoin dominance is raising red flags with three TBO Close Shorts appearing on the 4-hour chart in the past three days. Historically, such signals have preceded market-wide pullbacks. Bitcoin dominance is retreating slightly but remains elevated, while the OTHERS.D chart for smaller altcoins continues to show bearish consolidation.

However, the "Top 10 Dominance" chart rose by 2% on Thursday, suggesting that larger-cap assets may lead the next wave of movement.

OTHERS Market: Resistance and Potential Breakout

The OTHERS market chart is forming a bullish pennant, signaling potential upward momentum. With multiple resistance tests and zero support breaches, the odds favor a breakout.

Historically, similar rallies in the OTHERS market have lasted about 33 days, moving rapidly and catching traders off guard. A breakout above resistance could signal significant altcoin gains.

BVOL7D and Altcoins: Signs of Reversal

BVOL7D, an indicator of Bitcoin’s expected volatility, is beginning to stall, with daily RSI at overbought levels. A decline in BVOL7D could catalyze a bounce in altcoins.

In the meantime, Solana is holding strong at daily TBO Resistance, and APT is showing pre-breakout signals with two TBT Bullish Divergence indicators near support.

Altcoins to Watch: XMR, POPCAT, More

Monero (XMR) is standing out on the daily chart, with strong volume, OBV, and a bullish TBO Slow line. This rally may be fueled by the lifting of OFAC sanctions on Tornado Cash, which could signal renewed interest in privacy-focused coins.

POPCAT has surged by 43% in three days, though its history of volatility should be noted.

PYTH, like APT, is showing early breakout signals with bullish divergence patterns.

Overall, the market sentiment is bullish in the long term but volatile in the short term. Despite this, Bitcoin's ability to remain above $100K and the broader market's resilience in making higher lows are reinforcing the bullish macro trend.

Altcoins are gearing up for potential breakouts, but traders should be prepared for rapid movements in either direction and remain cautious. As the crypto market matures, making strategic plays and entering at the right time are crucial for navigating these dynamic conditions.