Macro update on the ALT environment.

A thread.

1. We can see here on ETH/BTC 1H, that this resistance forming just under the 0.04 level (HTF resistance) is now being tapped for the 4th time.

1.1. Multiple taps to either S/R or S/D indicate strength in the prevailing direction (best analogy i've heard is cutting a tree down, every swing of the axe it gets more likely to fall). Once this goes I see the pair move up with pace.

2. $BTC 4H shows us we have recently swept the lows, that said there is still liquidity below at 28K, and then above at 42K. Regardless we are still rangebound here for now, with a huge 12K diameter from wall to wall to play between. Bullish for alts.

3. $BTC.D 1W shows us the gameplan we have been monitoring for some time. The underside resistance of both the HTF horizontal and trendline has proved effective, and bearish market structure intact with us putting in a lower high.

4. I think the ETH/BTC pair is the most important chart for alts right now. It looks bullish on both HTF and LTF, and I expect it to run hard once it really gets going and for this to accelerate $BTC dominance's position.

4.1. I have a large % allocation in $ETH for this reason but have also got large exposure to low cap Defi, Oracles and $DOT projects, as well as of course a large HTR position. I don't own any $BTC or $USDT at current. My focus is on positional plays only going forward.