Altcoins Stay In Danger Zone Until Bitcoin Clears This Level: Analyst

A technical analyst named Kevin states that the outlook for altcoins remains precarious. He argues that altcoins will struggle until Bitcoin surpasses a significant resistance zone between $120,000 and $123,000. Kevin emphasizes that the weekly Bitcoin chart still indicates a need for caution due to lagging momentum. He believes that clearing this resistance and the weekly RSI downtrend would make him highly bullish. However, until then, he advises treating these levels as major resistance. The analyst directly links altcoin performance to Bitcoin's ability to break higher. He also noted that market sentiment became overly optimistic at resistance and overly bearish at support. Kevin suggests avoiding chasing optimism below resistance and remaining cautious until Bitcoin and Total 2/Ethereum overcome these key levels. Macro conditions are a factor, but not yet a primary catalyst for a bullish altcoin move. He is waiting for price and momentum to confirm a breakout above Bitcoin's resistance band. Kevin observes that low volatility in Bitcoin typically precedes a significant move. He believes this move needs to break both price resistance and weekly RSI downtrend resistance to unlock a stronger bullish case for altcoins. Without this confluence, he sees a potential trap for altcoins, which historically underperform when Bitcoin is capped. His stance is conditional optimism, contingent on Bitcoin breaking the $120,000–$123,000 zone and improving its weekly momentum.