The crypto market historically tends to move in cycles/phases, with BTC first pumping followed by higher market cap OG tokens, before the capital flows to the midcaps and eventually the microcaps and meme coins (which then marks the time to sell).
The BTC.D weekly chart had finally broken down below the red long-term support trendline, suggesting capital shifting into altcoins. Need another ~3 days for the current weekly candle to close below to confirm.
The Fusiongap {50/15} had also registered "bearish" on the BTC.D chart, which further supports this thesis.
Hence this suggest that it is safe to continue to DCA into mid-cap altcoins such as KASPA (KAS) with many higher mcap OG coins having already pumped close to their previous cycle ATH. Will start DCAing out of the market once the micro-caps and a kinds of memecoins start pumping, probably approx. in a year time.
The BTC.D weekly chart had finally broken down below the red long-term support trendline, suggesting capital shifting into altcoins. Need another ~3 days for the current weekly candle to close below to confirm.
The Fusiongap {50/15} had also registered "bearish" on the BTC.D chart, which further supports this thesis.
Hence this suggest that it is safe to continue to DCA into mid-cap altcoins such as KASPA (KAS) with many higher mcap OG coins having already pumped close to their previous cycle ATH. Will start DCAing out of the market once the micro-caps and a kinds of memecoins start pumping, probably approx. in a year time.
Note
This idea is presently negated with BTC.D failing to hold below the red line (will need to see how this latest weekly candle closes). Personally, I would continue to simply hold on to the alts that I have already slowly DCAed into (mainly ETH and KASPA), but hold off the DCA-accumulation of ALTs from BTC until the weekly candle closes below the red line again.Note
Lower High set, and back below the red line.. waiting for candle close + another for confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.