Personally I think BTC has had a healthy retracement. Using the FIB tool on the daily, we have retraced to the 0.618 (golden pocket), I can see it going up after accumulation.
However... Previous FIB tools applied to the previous bull runs shows BTC retracing much further than the 0.618.
If we close below the red box on my chart then I'm getting worries, as it will be breaking the 0.618 on the FIB, believe we will be following a previous bear market at that point.
What also concerns me is the large head and shoulders formed on the daily.
What is interesting is that BTC.D is going back up, so less going into the Alts.
However... Previous FIB tools applied to the previous bull runs shows BTC retracing much further than the 0.618.
If we close below the red box on my chart then I'm getting worries, as it will be breaking the 0.618 on the FIB, believe we will be following a previous bear market at that point.
What also concerns me is the large head and shoulders formed on the daily.
What is interesting is that BTC.D is going back up, so less going into the Alts.