Altseason2021
Another Altcoin widnow?I imagine if BTC ranges around this daily S/R for an hour or more, we would see another altcoin window. It might last long or short so be catious if you are willing to take a position on such an occasion. Do not get into a trade unless you get several confirmations using candlestick patterns, indicators, price action, support/resistanc etc. before entering a trade.
Something big is coming?Let's find on the chart
EVERY disruptive technology first makes an impact somewhere—often with just one so-called lighthouse industry that stands at the leading edge of adoption. A particular group of companies and customers grasp that technology’s long-term value and the ways it might upend current thinking. Aerospace companies, for example, envisioned early on 3D printing’s long-term potential far beyond prototyping!
Over time, organizations from a wider array of industries came to see the potential of these and other disruptive technologies as they found more practical and diverse mainstream applications. Some term this process of industrial adoption the diffusion of innovations. Blockchain is going through a similar path of diffusion across industries far beyond its initial fintech applications. More organizations in more sectors—such as technology, media, telecommunications, life sciences and health care, and government—are expanding and diversifying their blockchain initiatives.
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Altcoin Season - Daily Squeeze + Monthly SqueezeAs I have been covering for quite sometime the altcoin market is experiencing a strong move higher, with a powerful monthly squeeze carrying the market higher, it appears that the altcoins are set to get a further tailwind with the presence of a daily squeeze within the firing monthly squeeze.
Daily Squeeze
It is worth mentioning that a daily squeeze within a firing squeeze of higher timeframe is typically a strong continuation pattern, further lending credence to the idea of a period of ETH outperformance to BTC
Monthly Squeeze
The broad outlook of the altcoin market
The altcoin market is completing the FIRST stage of a breakout phase in the market, which is a retest of prior highs, I believe that this is NOT the final move, I believe that this is similar to the period in late 2015/ early 2016 when the alt market started to gain traction.
In other words I see tremendous upside for investors who are able to position themselves PRIOR to the true breakout, as a result I would recommend that investors lookout for opportunities to add to positions, as a brief ease is possible (albeit less likely with ETH breaking to new ATHs).
-TradingEdge
bull bear or alt season? We find out tonight at midnightThe monthly close at 0:00 tonight UK time will decide whether we print a gravestone doji, shooting star, or something that means BTC continues on its bullrun...
I think we are all feeling alt season is at least starting its engine, but after a small dump, if BTC ranges for a few weeks, that will give everyone time to get into the chaos of alts before BTC takes off... I would prefer this (more long lived for the asset class and greater long term gains for the best alts). This I think would take us into a bullrun to last the year (watch out New Years day 2022!!)
Or its equally possible BTC will launch on sentiment and current support from billionaires and institutions, in which case, alts dump one last time before they shoot skywards.. In my opinion that would be a less stable step forwards, and I would expect a blow-off top pretty soon, where all but the most vigilant will get rekt when we do crash.
I'm not a trading expert - just one minnow's take on the big scene.... but if it helps I'm glad. And if I'm right I'm gonna be fine.
Here is a possible gem CDTBTC Buy low sell high or die trying. Not betting the farm but this one is looking like decent rr imo
DOGE pump and dump / is this a start of alt season?OK, so we all saw this pump and dump manipulation by whales - typically lot of news at twitter to catch ppl emotions and start fomo buying - If u want to be succsefull trader, u should avoid emotions otherwise u will lose your previous gains and end it up with loss and head full of stress
What happened basically - price went parabolic - parabolic move is not healthly move in trading = as fast it went up that fast it will go down again
Price broke 58-62 area which was previous resistance and did another 40% to 86 (total 300%+) - another resistance...till we are under 62, we might not see another pump - but it all depends on whales
Green area is another Support which should hold for another move up. It is hard to say if this will go up or needs some time for rebreath -i dont like pump and dumps - hard to predicts anything ....basically it's from hero to zero very often sadly
And now i would like to guess few thought in YOUR HEAD during this pump
- institutionals twitter accounts are posting only about DOGE - MOON - USDto DOGE and other bullsh.. (in fact they need you to fomo because they will sell to you their big bags of coins at great price - thanks to twitter hype and FOMO - dont be stupid they bought it weeks ago, not now)
- moon lambo
- great it can go to 200 sat
- it is still going up
- ok should i sell i see first red candles on minute chart
- oh no it is still going up, i am safe
- wtf is happening is it dropping now? should i sell at 80?
- oh no it is at 60 now i am sad that i didnt sell it at 74
- ok selling now at 55, good profits
- oh sh..it is going back up, 65 lets buy it with market buy
- nooo it dropped again to 52 and i am in loss:(
- my profits are gone, what should i do now
- emotions, emotions, emotions, feeling bad etc
I am here to help you so we can discuss it in comments if u want
NOT FINANCIAL ADVICE
EDUCATIONAL PURPOSE
Total Market Caps Still in UptrendThere has been a period of consolidation over the last few weeks with no major moves yet. Alts have started moving up, but still seeing a lot of bearish opinions and uncertainty.
The top panel you will observe the Total MC for cryptos. It's currently in a symmetrical triangle.
The bottom panel is all Altcoins, which is in an ascending triangle.
I'm expecting a break one way or the other in about 36-48 hours from now. The probable direction is up for many reasons.
1. We are still in an uptrend.
2. Bitcoin is still above $30K and the Alts are consolidating after decent moves up.
3. Institutional interest is still there; evidenced by Marathon's big buy.
4. The dollar is currently still weak and can't get above the 50D EMA.
5. Lots of bearish thinking.
I think we go up to the targets with the green dotted lines, followed by a decent correction back down to test present levels, followed by the Altseason everyone's been waiting for. This move will likely take the market cap for Alts to $720-$750B
It goes without saying that a breakdown from these levels will likely end our present uptrend, but that possibility is minimal imo.
Remember this is only my formed analysis outlook. This is not an endorsement or recommendation to buy or sell.