Another month another new ATH, I like that. Both BTC and ETH broke previous all-time highs and continuing to build momentum here. Thanksgiving gave a slight dip, and now back off to the races for December. The COVID-19 Omicron strain scared some investors, and if there is more stimulus globally, it will only continue to strengthen cryptocurrency as a whole. Let’s look at some charts!
ETH/BTC 1D
Consolidation since May, and I am incredibly excited for the continuation of the movement. This is a clear breakout. The gold lines are previous resistant levels from 2017. The last time we had this movement, it was an exponential move that ended around .14. Volume at this ratio is also low, but I think we have a lot of potential with low RSI.
ETH/USD 1D
While the BTC ratio is looking strong, the ETH price continues to rise and is holding well just below ATH. If we had any exponential growth similar to 2017 here, it could expand quickly.
Bitcoin Marketcap Dominance
Also, looking at Bitcoin dominance, as we get closer to the golden line, we need to watch as dominance gets lower; strength in alts increases. This could be an area of interest. In 2017, there was a spike in dominace before falling to 29%. The volatility is much lower this year, so this last can see a bleed on Bitcoin dominance.
Overall, I am very excited about December. I’ll see you in the New Year.