BTC dominance about to do a Midsommar...Or at least - that's what it looks like.
Now would not be a bad time at all to buy some alt coins on low to no leverage, even if you can only afford a few Cardanos :)
Bitcoindominance
Alts starting to look, let's say, "interesting"....No way would I have the audacity to call the next "alt season", but this Bitcoin Dominance chart, assuming this week closes somewhere around here, is starting to make the alts look very interesting to me for the first time in a long time. Next week could be, well... interesting... for the alt coins. Let's leave it at that.
BTC.D | Altcoin Season Anyday NowJust like 2017, the altcoin season won't come slowly, it'll be a sudden rush and inflow of money.
We all know that we've topped out at 73% in the fall last year, and now we're just coasting below the big resistance level at 70% dominance.
There is no more support until we get an alt season, please take a look at how crazy those candles look in the past week, it's almost as if they're trying to hold this coasting for as long as possible.
Every single altcoin has bottomed out or has started going up in price of Bitcoin, as we've seen multiple multiple coins doing 30%+ in the span of 24 hours.
Please let me know your thoughts and if you'd like to chat with me, check out the telegram links below.
As always please do your own research, I am not a financial advisor.
(BTC.D) Altcoin Dominance Eyeing Up A Breakout to 40%With altcoin dominance closing back above the rising 200 Week MA last week, confirming Bitcoin's long-term weakness in market dominance, "ALT.D" (1-BTC.D+99) has again held the 30% support a second time and is looking for a breakout above 33.75% with a target to 40%.
This would additionally be a TD Sequential trade on the Weekly chart with a Green 2 going above a Green 1, with oscillators (RSI, CMF and MACD) pointing to further upside. There will likely be some resistance and profit taking around the 50 Week MA around 35%, half way to the target, but I don't expect it to hold for long if volume continues to rise. The momentum would likely be too strong preceeding the confirmed trend change.
Reward/risk: 2.1
Entry: 33.76% - TD buy signal and and new swing high since July 2019
Target: 40.7% - Previous support level as resistance and 100 Week MA confluence
Stop Loss: 30.50% - Breakdown below the open of the 1 candle, 21 Week MA and into support range = bearish
To me, this is a perfect trade.
Previous altcoin dominance TA:
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
BITCOIN Dominance outlookI`ve made this chart 6 months ago. Its performing well up to today.
This could mean alt-season is just around the corner.
How much Price will go down from actual levels will depend from amount of new money entering the markets.
- this is just my opinion and no investment advice
ALT SEASON IS JUST GETTING STARTEDHello traders as you can see we have broken through key monthly support on btc dominance chart. Majors have been outperforming btc and that will continue. The maxis have had their fun but now its time for them to be punished. Target in the 50% range.
Bitcoin Dominance TA Update (Altcoin Season?)Bitcoin Dominance
BTC Dominance is currently trading at the key support area after falling from a cliff last 14th of Jan.
If BTC Dominance can't get above 69 levels there is likely a bearish cross of 50MA and 200MA will happen in the coming days.
This will drastically shift the momentum from Bitcoin going to the Altcoin markets.
Meaning, We will experience an Altcoin season for 1-3 months.
I have seen multiple Altcoins starting to pump and have the potential to explode within 1-2 weeks.
I'm getting excited but still using precautions in every trade.
I will update this chart after a few days when we have enough data from the market.
BTC Dominance TA Update (Alt-coin Season?)BTC Dominance
Bitcoin Dominance dropped like there was no support around 69-68 levels. BTC Dominance is now at 67 levels giving Alts/USD pairs a minor pump or relief rallies.
If BTC Dominance closes the candle below 200MA, I am looking for this potential bearish triangle pattern which will lead the price much lower in the coming months.
Things are really getting interested right now, I will update the market when the Dominance cools down.
ALTS WILL GO CRAZY WHEN THIS LEVEL IS BROKEN Hello traders what we got here is the btc dominance chart. When the monthly level here is broken alt season will start.
Loading a dip?Hello everyone, this is our view on CRYPTOCAP:BTC.D , enjoy!
Analysis:
Most of alts are pumping hard by now, but they can hold this rally no more. So now i'm explaining: we're stuck in a big ascending wedge, which is currently supporting and resisting the price and i believe this is a lower retest after the sharp upper one. Then i drew 2 families of lines: bot-top (blue) and top-bot (red). I believe we'll follow them thoroughly. We've also faced a parabolic move which completes with next dip. We won't breakdown these two major patterns unless ma200 and ma50 form a death cross. Then i strictly recommend to go long on alts as they will pump a lot. First target when we'll turn long in the next days will be ema25 (69.65 ca). First signal of a reversal is the breakout of wma10. Large bollinger bands going down, we'll breakdown to oversold and then rebounce maybe after a little consolidation to let them stretch up. We already crossed ichimoku cloud, which is bearish itself, but it is also very thin next, so it won't act as a resistance for price to go up; they suggest we're then targeting 70.03. No change in trend suggested by fisher transform. Lower lows targets on laggings (chaikin, moneyflow, rsi), while they're just about to form bullish divergences with price going down. Stochastic (14,3,3), which also made a golden cross, and uo already formed a bullish divergence. Bearish momentum suggested by ao and macd (on it's way to form a bull divergence btw), bullish signal will be for macd to form a golden cross and for ao to mark 3 subsequent green candles. Fear accumulation this term, that's the begin of a downtrend reversal.
Strategy:
Wait for laggings to complete the bull divergence and then short on alts as they will bleed.
Targets: 68.90 - 69.65 - 70.03 - 70.06 - 70.96 - 71.14
An update is coming as far as this prediction ends.
Trade safe. Anlvis.
Bitcoin Dominance TA Update (Bounce back for Alt-coins?)Bitcoin Dominance
BTC Dominance sky-rocketed from 68 levels to almost 71 levels yesterday. This kind of move hurts most BTC pairing Alt-coins and most of them crashed hard over 10 - 20% drop.
BTC Dominance has temporarily topped-out and heading back to the neutral zone where the 50MA is located and previous resistance has potential turn into the new support area.
We could expect BTC Dominance to consolidate in these regions and the likely bullish play scenario is an equilibrium or tightening range. During its consolidation phase,
Alt-coins pairings against BTC will have the chance to bounce back at key resistances for a retest and we can expect some 10 - 20% move up.
I'll be looking for this kind of play in the coming days when I see the right opportunity.
UPDATE:08/01/2020 #BTCDominance will decrease very soon!UPDATE:08/01/2020 #BTCDominance will decrease very soon!
Bitcoin Dominance TA Update (End of Alt-Season?)Bitcoin Dominance
BTC Dominance followed my downward target zone but right after it reaches a key support area. The price quickly shoots up piercing key resistances like a hot knife through butter.
A price gap is also filled in the mid 69.50 regions but that didn't stop BTC Dominance from sky-rocket above it came from. This market condition is hurting most if not all BTC Alt-coin pairings today.
Please trade with a stop-loss just below key support because once these areas are broken, further downside is likely the scenario.
We will have to wait and see when BTC Dominance cools down before entering any trade against Bitcoin.
Bitcoin Dominance - Anyday Now we'll freefallAnother BTC.D update, as we all know Bitcoin topped out earlier this year at $14,000 as well as the dominance after a 2-year bull run at 73% to the T.
The monthly level marked in white at 70.21% is the exact point at where the 2017 altcoin season started. It's not a coincidence that we keep trying to touch the 70.21% level.
Traders know that we can't break back above and the move is failing out, it's like the projectile motion of a golf ball. Sure you hit your drive 260, but at around 200 or so yards the ball starts to lose steam. That's exactly what's happening with the BTC.D . Anyday now it's just going to freefall just like it did in 2017.
Every altcoin chart looks the exact same right now, all are popping out of accumulation, or already have with 60%+ moves. Anyday now.. watch.
Then after the altcoin season when BTC.D falls and matches all-time-lows, Bitcoin will go crazy in price because everyone will cash out their no use case altcoins for the limited supply coin, Bitcoin.
As always please do your own research, I am not a financial advisor.
Bitcoin Dominance - RoomRSI is seen to be rising, with one more spike until it enters ovebought area, this may influence price and cause one more leg up before alt dominance begins to rise. Can to be seen to have formed a rising wedge.
Bitcoin Dominance TA Update (Minor Alt-Season?)Bitcoin Dominance
BTC Dominance broke bearish as the price closes below the support line signaling a potential retest of the 0.618 Fib level. This drop will give BTC pairing Altcoins a chance to recover from its loses a few weeks ago.
Altcoins will experience a short term season for probably a few weeks only. But still, use the proper risk management and place your stop-loss properly in every trade you open.
BTC Dominance TA Update (Short Term Pullback?)BTC Dominance
Bitcoin Dominance loses the 4-hour uptrend and now it is due for a Daily Higher Low to form between 0.5 - 0.618 Fib support level.
During its short term down-trend, BTC pairing Alt-coins will have an opportunity to gain back those loses from previous dumps.
This is where some Alt-coins will start pumping up to 60% move on a single candle. But still, be cautious as this market is still unpredictable,
use the proper risk management and ensure your stop-loss is placed accordingly.
Bitcoin Dominance in Mid-termBTC Dominance is continuing to form a bullish flag and the next target will be 78%, or more than 10%.
This is a terrible number for Altcoins' life. Holding Altcoin will almost cause loss.
Make sure the Altcoin you are intending to buy has a big reason to buy and make sure you have a clear, specific strategy for each possible scenario.
Bitcoin Dominance TA Update (More Upsidel?)Bitcoin Dominance
Bitcoin dominance is slowly approaching important key resistance or 0.618 Fib level. RSI is extremely on the overbought condition for the past 7 days.
When a coin reaches an area of confluence and the RSI is at extreme levels. There are higher chances of reversal to reload for another leg up.
Currently, there is no sign yet of reversal but expect it to happen within a few days. Bitcoin pair Alt-coins are hurt during bullish action of BTC dominance but when a reversal happens,
that is where they will outperform bitcoin again. Be cautious trading Alt-coins today, use proper stop-loss strategy and risk management.
Bitcoin bottomed or pospoted between Jan-May halvingWe're either at the bottom already or we're completing the Wave Z correction. I measured using Fibonacci Ratios as well as the subwaves. It's confluent with the January timeline. Remember BTC pumped January of 2019 and likely to pump again on January 2020 which is inline with the January effect on securities (investors/traders withdraw for the holidays on December then deposit and invest back at January where business is back and holidays are over -January effect). For the timeline now I see it pumping anytime within the 1st quarter of 2020 or early 2nd quarter which is also the May halving.
Bitcoin pump 2020 or 1st-early 2nd quarter pumpIf we don't pump on January 2020 likely it can happen anytime between the 1st quarter of the year 2020 OR at most 2nd quarter of 2020 which is the may halving. Also note that BTC corrected middle of 2019 June so possible that the maximum bottom will be on middle of 2020 which is May. Note that May is also the halving of Bitcoin.
Bitcoin-BTC Dominance end here or retracement continueWe either end here as WXY or we form a WXYXZ if we don't have that January effect thus BTC failing to pump. Note that I am forecasting BTC to pump on January. Following the cycle of BTC dumping from 2017 of December and bottoming 2018 December then pumping at January 2019. Please see my profile for that analysis
