TechFlow news, October 19 — According to crypto KOL Ansem, weekly charts of XRP, SOL, and ETH show clear SFP (Swing Failure Pattern) formations, suggesting market movements resemble momentum exhaustion rather than the beginning of a new bull run. He noted that this situation is similar to LTC's price action in 2021, while BTC has already dropped below its 2024 highs.
Ansem believes the prolonged 10-month distribution phase may be nearing its end, with the market lacking new narrative drivers. MSTR has fallen below its 200-day moving average for the first time since peaking in November last year, turning it into resistance, which reflects weak market structure. He added that unless BTC reclaims above $112,000, the current bearish outlook is unlikely to change.
