Dominance bounced around the 57 level in September second week. That was the time when I posted a chart and warned everyone to hold more BTC and minimise your exposure in altcoins.
Since then we have seen correction in altcoins for almost 76 days.
Now it got rejected from the upper trendline resistance of the channel.
What can we expect now?
I am expecting Dominance to fall from here. 64 Level was crucial and it already broke below it and currently retesting this level. Alts. must perform well for at least next 3 to 4 weeks.
Alts are taking a hit right now while BTC is under a short term correction.
The next crucial levels to watch are 61.20 and 58.
If Dominance breaks below the 61 level the alt season may get extended to almost 56 days.
History says Nov to Jan are good for altcoins.
I am holding the few altcoins that I posted like BLZ CTSI DUSK PPT and will add more on confirmations.
I will be posting altcoin setups soon, stay tuned.
Do hit the like button if you like my simple updates and share your views in the comment section.
#PEACE
Since then we have seen correction in altcoins for almost 76 days.
Now it got rejected from the upper trendline resistance of the channel.
What can we expect now?
I am expecting Dominance to fall from here. 64 Level was crucial and it already broke below it and currently retesting this level. Alts. must perform well for at least next 3 to 4 weeks.
Alts are taking a hit right now while BTC is under a short term correction.
The next crucial levels to watch are 61.20 and 58.
If Dominance breaks below the 61 level the alt season may get extended to almost 56 days.
History says Nov to Jan are good for altcoins.
I am holding the few altcoins that I posted like BLZ CTSI DUSK PPT and will add more on confirmations.
I will be posting altcoin setups soon, stay tuned.
Do hit the like button if you like my simple updates and share your views in the comment section.
#PEACE
Note
In this 2 hour chart it seems like we are already seeing a rejection from the resistance level.
All we need is BTC top hold that 16.5k level for now which IMO it will.
This will trigger immediate bounce in altcoins.
All the best.
Don't worry
Be strong.
I know how you feel :)
Note
BTC Dominance 4 hour chart : Expecting a death cross soon. The Red line is 50D MA. and the Blue line is 200D MA.
Dominance really works well with Death cross and Golden Cross.
Last time it happened in 4 hour chart Dominance dumped by almost 4.5%.
If it happens this time too it will be a very positive sign for altcoins and will support my stance.
Stay tuned
Note
Exactly as we speculated Dominance had a Death cross in the 4 hour chart. Expecting altcoins to grow from now.
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Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
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ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.