Despite the fact that Bitcoin sets the direction of the market as a whole, it has begun to lose its dominance. We can see some portion of Altcoin going in revenge with Bitcoin, but there are also those Altcoins that go much lower than Bitcoin, the DOT for example. And there is Ethereum, which has a huge chunk of market capitalization going into Bitcoin, altcoins, and clearly correlates with it.

Last week we saw the initial signs of a market reversal happening, some alta bouncing like crazy. But, this week will be less positive, but it will be decisive. Right now, it is very important to watch the levels that are marked on the Ethereum chart. When the price reaches this level (1400 / 1200 dollars), and we see interest from the buyer (holding the price at this level), then it's possible exit the price and the beginning of the medium-term trend in the area of 1700 dollars, followed by a breakdown of this resistance level and the price's trip to the area of 2600 dollars.

It is very important for us now to understand what will happen to the cryptocurrency market next. I think Ethereum has already reached its bottom and is now in the mid-term trend formation. While Bitcoin is showing weakness. Mi watched the stock market fall and Bitcoin piecemeal held at $18,000. All onchainmetrics indicate that Bitcoin has bottomed, but I don't think 18k is a true bottom for Bitcoin.

Locally, the market always goes through a shakeout and even though MarketMaker held the $18K level on Bitcoin. We may see a short-term decline in the Bitcoin price to the $16,000 area. Updates to the bottom, collecting liquidity and then a medium-term rise in the price to the $30,000 to $32,000 area.

WARNING!!! Do not under any circumstances, do not consider my actions as investment advice. This is only my subjective opinion, I could be wrong.