Alt Season - next wave startingAfter reaching $11,200 -- BTC needs to correct and alt coins need a chance to catch up.
I think the next 1 to 3 weeks will be a rapid bloom time for the alt market but it could all be over by the middle of July!
Let's review.
Regarding BTC, $11,100 represented the 3.618 Fibonacci advancement line, when measured from the bottom to the tip of the first wave. This is often the tippy top price of a 3rd wave.
The next major price milestone will be $15,498, representing the 5.618 line and the next number in in the fib sequence. If BTC doesn't have a major correction or slip back into a bear market, this is the price I would target for the 5th wave.
Looking at Bitcoin's Dominance, we can see it made an impressive run and market take over beginning on June 14th. I noticed a lot of my alt coins pumped hard (but for like 15-20 minutes) on June 13th.
By applying a Gann fan to BTC.D, we can see the level perfectly, and I do mean perfectly bounced off the last wedge, which is often a major resistance line.
Directly above it, we have the resistance line generated by the previous high.
BTC Dominance might recover between the 2/1 and 3/1 wedge but it will be only temporary before resuming downward.
Look for BTC.D to reach and breach 59
Here is what I think will happen.
Bitcoin will maintain it's price above $10,000 for probably a week or so. Probably at least through next Tuesday when the US and China meet.
While BTC's price is kept at this level, BTC will flow into alts, causing them to rapidly bloom over the next 1-3 weeks.
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ALT
BTC.D - Next wave of Altcoin season at fight or flightBitcoin's market dominance appears to be at a the precipice of reversal, which would trigger the next wave of Altcoin season.
BTC breaking out, above the triangle invalidates this idea.
I think we will see an immediate drop in BTC dominance down to at least 59.
Some alts will pump in this period while speculating traders take their bet.
Upon reaching 59, the market will have a choice to make. Dipping below say 58.5 will break the triangle and we'll see a bloom in alt coins.
If Bitcoin dominance breaks below 57 and especially below 56 we'll see alt coins bloom A LOT. ;)
Good luck!
Bitcoin Dominance/ When Alt Season?I know everyone is so itchy and calling for alt season, but it simply will not come until this bitcoin dominance chart reverses trend. The shaded area is the key level. Once this breaks down and below that we could see alts turn, but as of now, it is holding as support and bouncing meaning, death the most alts. This means money is flowing out of alts, and into bitcoin and this will act as the gas to propel BTC to 9000 and likely 9800-10,000 imo. Alts are risky until bitcoin is done running, watch this chart it is your key indicator, not crypto twitter... Long BTC, not alts.
Altcoins Market CapitalizationImportant announcement
All the crypto community are waiting for the Altcoin season. I officially declare the season has already started since the beginning of 2019
Since the beginning of 2019 until April
ENJ 600%
EVX 650%
OAX435%
DLT – 500%
THETA 335%
RVN-525%
HOT 320%
BNB 290%
KNC 215%
APPC APPC 160% and 120%
ONT 134%
TRX 180%
EOS 136%
The second season this year has already begun
The results of the coins that made more than 100% since May
TNT- 290%
GXS - 220%
AST – 195%
CELER - 194%
DENT -183%
BCPT -144%
BTT -150%
CELER - 194%
DENT -183%
HOLO – 103%
LINK- 128%
MITH -115%
MTH-100%
Nebulas -100%
REN -100%
SKY -133%
Storj – 125%
XEM -100%
XZC – 120%
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One Year Chart On My Previous Head and Shoulders PatternI have updated this chart slightly with some potential targets/resistance.
Most importantly I have zoomed out.
I added a fib retracement after my manual resistance lines.
Lots of room for it to still go up.
AION BULLISH ENGULFING, BULL DIVERGENCE...SO MUCH ROOM TO RUN!BINANCE:AIONBTC on the weekly found a new ATL last week and has surged back with Volume this week, creating the possible bullish engulfing pattern on the weekly (still yet to close and confirm). At immediate resistance now, with EMA 10 and 20 still to get through. 6 month long Bullish Divergence, when it's ready it should fly through resistance easy IMO.
BNB - out of downtrend and WEEKLY inside barFellow warriors,
Might have a good signal here, I just noticed a weekly inside bar on Binance coin which just got out of its downtrend!
It's at 10$ now, but its ath is 25+. Good coin good exchange strong potential.
Pretty straightforward.
Here's how to trade these for begginers:
forextraininggroup.com
Make sure to not be greedy and put your stop loss BELOW the LOW of the mother bar or you will get scammed.
Apparently I'm in the top 500.000 BNB holders so I got some free BCPT XD
Buy area: break of 11.4$
Targets: 14 18 25 and beyond if you feel like holding.
Stop loss: Below 9.6
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
Alt market more Bullish than Bitcoin, Part 8Previous analysis:
So the Healthy version of the correction played out, but not as i wanted it to happen. It's still above the mid-term support around 6250/6500, but rather had seen some more bullish conviction and that it would have stayed above the 7000ish.
This has improved a bit now, but it is key that we form a higher low from now one, so not breaking the green on the left.
On the right we can see the green support, which is likely to be the neckline of a double bottom . But it is becoming more clear that alts don't want to move up (yet). Bitcoin made a nice rally from 5280 to 5400 but the alts just did not move up, some even dropped slightly. So the only way that green support will hold is seeing Bitcoin making another big push up.
Well, Bitcoin made that push up and the double bottom target got reached perfectly, but still alts are very weak compared to Bitcoin. This might take a few more days before we can see this improve. Think we might see another test of support even, something like the blue line on the right.
When Bitcoin makes a (small) drop , than it goes sideways like we did a week ago and in the mean time seeing alts slowly grow again on the low time frame. Those are usually the moments that the market makes a push up. It's just not what i am seeing at this very moment, actually the opposite. So normally we should see Bitcoin drop , but even that is not happening now. So best advice here is as well, patience. Weekend is also closing in again and it feels that we will get similar or even better prices than this withing the next week or 2. But now it's just very hard to predict the next move, so waiting for a clearer path is the best play IMO . The path has become a bit clearer now, where i would like to see the blue line on the right play out. So seeing Bitcoin making another dip to 5700/5500 and then seeing the whole market slowly grow. So my ideal scenario, seeing a dip for Bitcoin, then seeing it move sideways for a few days, while alts start to grow a bit during that consolidation. If we see something like this happen, we might be able to see a very big rally coming week or 2 for the alts. But without an scenario that alts grow during a sideways Bitcoin, it will become very unlikely.
The 7800/8000 seems to be the key level between another rally and seeing the alt market stay low or drop even.
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Previous analysis:
Alt Coin Market - Super Clean Entry Point, Risk Tightly ManagedG'day friends, I've covered Bitcoin a lot lately, so what of the alt coins? I love how clean this entry point is. Breakout from the bear market with a strong weekly candle, bull flag confirmed, right on a massive accumulation volume profile bar with a lot of fresh air over head. Couple this with Bitcoin defiance of short term bearish indicators - confirming it's bull run with two consecutive days crossed and held over 50 week moving average (see my prior posts), which historically confirms the new trend for transitions to either bull or bear markets. What a great time to be involved in crypto! Exit signal is Bitcoin breaking back down through the 50 week moving average, that spells rejection and need for rest.
Clarity is power
-JA-
***This info is not a recommendation to buy or sell. It is to be used for educational purposes only. Make logical sound decisions for yourself by risking only what you’re willing to lose. It’s on you. ***
GNTUSD Altcoin Golem Buy the rumor, sell the news In June we are going alpha with the golem protocol, Buying in my yellow box for massive acumulation before we are late. First target for cautious investors. im selling in 1$ and beyond
Bitcoin's April surge. A Trojan horse?Okay, so please forgive my crude drawing of a Trojan horse here.
But this sort of bull trap that could be in play just reminds of me a Greek tragedy.
Okay, so a lot of fuss has been made over BTCUSD forming a golden cross yesterday. But considering that golden cross ONLY happened due to the initial $100M mega pump.
Let's talk about that pump. The short version people heard was a single anonymous order for $100M sent bitcoin's price surging 25% in like 30 minutes.
The buys were synchronized using trading software. The trigger could have been a manual or more likely, was set to "blow" upon certain technical conditions being met. The pump began following the closing of a 4 hour candle.
From there, it liquidated half a billion in shorts (cha ching for the pumpers, who would have made bets on this happening) and also causes FOMO buyers.
With such a long crypto winter, buyers and bag holders from 2017 have been anxiously waiting for the return of the bull. The bulls want this, sooo bad. And maybe they'll get it.
But honestly, I think this has all happened too early and we're due for one last big sell off before the bull run can begin in earnest. Late summer 2019 is what I had been tracking.
There's also the many other comparison charts to 2014/2015 where bitcoin did the same pump, before crashing down one last time, beginning the real bull run several months later.
The whole thing just strikes me as a giant setup.
But I could be totally wrong. Let's take a look at some technical s to see what can happen from here.
While we have a lot of oversold indicators, I think the bull push will probably continue right until the weekend.
The price could reach the 2.618 Fib extension line - roughly $5861. Maybe even wick to $6k
But there's so much resistance above $6k and there's not much new capital flowing into the market (except of course, new tether). I don't see the price going higher than $6k.
Now, while BTC has been having the best month in over a year, Alts have been having one of their worst.
The people behind the BTC pump are going to have two routes of cashing out. Cashing out to fiat, which some of it will be done or cashing out to alts.
I'm betting they will cash out to alts.
When will alts pump? Sometime between "now" and end of April would be my guess.
Then again, bitcoin's price could crash and take alts down even further with it. That's the worst case scenario.
Or, we could have a month ahead of us of Alt Spring...
Let's all hope for a snowy wet spring :)
READY SET GO/ BCHSV ready to pop!entry and exit in arrow on chart
Do your own research this is only a tip based on my altcoin finding strategy!!
HOT HOTBTC Forming for move upEntry at green line
Exit at red line
SL:24
This is just a tip/ do your own research/ check the 1 day chart down!
GVT pick of the week Entry = Green Line
Exit = Red Line
Based on trending analysis looking bullish/ volume increasing/ has hit a pivot point on this support
My personal exit is just above .0012-.0013