Bitcoin and Ethereum are experiencing a period of consolidation, with Bitcoin hovering below $66,500 and Ethereum holding above its daily support level. According to Cara, a trader on Steady Lads, the market is waiting for a clear breakout to confirm a bullish trend.
The Total ES index, which tracks global capitalization without stablecoins, is facing a double graphical obstacle on a weekly time frame, with the price hitting both a horizontal resistance and a downward sloping trend line. However, the daily analysis shows a breakout above a descending channel, suggesting an upward orientation.
Market Analysis
On a 4-hour time frame, the former resistance has been retested twice as a support over the weekend, confirming moderate buying pressure. Bitcoin is consolidating below the key level of $66,500, which includes the horizontal resistance, the 2021 closing high, and the long-term downward sloping trend line.
Ethereum, on the other hand, is showing a more offensive configuration, having validated the breakout of its two downward sloping trend lines. Although the price is still facing its weekly horizontal resistance, the preservation of the daily support is consolidating open positions.
The ETH/BTC ratio is maintaining a neutral orientation above its breakout levels, suggesting a search for entry points on pullbacks. The market is gradually validating the solidity of recent lows against the US dollar.
Other altcoins, such as Solana, Pepe, and Dogecoin, are showing punctual reactions within a still lateral altseason index. Solana has gained 3.5% in daily data after extracting itself from its consolidation, seeking to reintegrate the $80 threshold.
Trading Strategy
Cara's allocation as of August 10, 2026, is 48% stablecoins and 52% cryptocurrencies. After a long period without new positions, a clear signal has prompted Cara to take action, resulting in a new entry with a particularly attractive risk-reward ratio. The portfolio now includes two assets, with a weighting close to 50/50 between stablecoins and cryptocurrencies.
