ALT Market Review - December 19, 2025
The analysis reveals the current market structure: market selling predominates and remains effective, but limit buying locally holds the price down. The heat map in Z-Score mode shows abnormal densities below the price, and the balance index is shifting upward while remaining in the mid-range. According to Dow Theory, the local trend remains downward.
Table of content
In this market review, we are not attempting to predict the future or predict what will happen next. Our goal is to state the facts we have at the current moment. We base our actions on these facts, not on our expectations and hopes.
Market Orders (red rectangle)
Aggregated market orders show a predominance of sell orders. These orders remain effective—selling pressure is driving the price down.
Limit Orders (green arrow)
Limit orders indicate an increase in buy orders. Currently, these volumes are acting as support and preventing the price from falling further.
Heatmap in Z-Score mode (blue rectangle)
The heatmap in Z-Score mode shows abnormal clusters of limit orders below the current price. Some of these volumes have already been filled, confirming increased buying interest in this price range.
Balance Index
The Balance Index has begun to shift upward, but remains in the middle percentile, without any clear dominance of either side.
Price Dynamics
Market sales remain effective - the price is reacting downward. However, increased volatility is observed.
Summary:
According to Charles Dow’s theory, the local market structure remains downward: previous lows are renewed, while highs are not formed higher than previous ones.
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