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Bitcoin and the whole Crypto market sharply bounced at the end of last week after a five-wave drop into wave A, so Crypto TOTAL market cap chart can be now making an abc corrective recovery in wave B before we will see another decline for wave C down to 3.0T - 2.8T support zone to complete a higher degree correction in wave (2).

Crypto TOTAL 4H Chart

Bitcoin has impulsive characteristics on 4h time frame, and we can clearly see five waves up that can send the price even higher after a pullback. Now that it’s back to all-time highs, we can see it making a higher degree ABC correction, which can take some time, and it can retrace the price back to 97k-93k support zone before a bullish continuation.

BTCUSD 4H Chart

However, with the current recovery some ALTcoins can already do well, considering that ALTcoin dominance may return soon. The ratio of TOTAL3(ALTcoins) market cap against Bitcoin with ticker TOTAL3ESBTC shows that ALTcoins may start outperforming BTC soon. It can be finishing final subwave C of (Y) of a correction in blue wave B, which may cause a new strong rally into wave C that can bring the ALTseason similar to the beginning of 2021.

TOTAL3ESBTC Weekly Chart 

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