The logarithmic diagonal.
Updated
Now some people are worried about BTC dominance breaking through the diagonal.
But my point is that it's worth paying attention to the logarithmic chart.
Apparently it indicates more accurately where the diagonal can go.
I would expect ~58%.
But my point is that it's worth paying attention to the logarithmic chart.
Apparently it indicates more accurately where the diagonal can go.
I would expect ~58%.
Note
Note
The other version is that you have to wait
7 months for an intense alt season.
This is a 19 day chart.
Note that the last time the candle literally
spiked down exactly at the very point where
the red cloud transitions into the green cloud,
having previously risen above the red cloud.
That was January 20, 2021.
Now a new green cloud is formed,
and the point of transition of red to green
is again located on January 20. 2025 already.
Assuming this is an identical process,
the alt season will have to wait a bit longer.
But it's relatively soon.
Note
and "dragged" along it in January 2024. On 23 May 2024 the trend was broken,
but suddenly the candle returned to the trend line as if there had been no breakdown.
Look at the places I have ticked.
The upper line of the indicator is a short-term analysis.
The lower one is the long-term frame.
According to the short-term frame twice (at the end of March and at the end of April 2024)
there was a situation of correction, which was replaced by white uncertainty,
followed by growth. And now, for the third time this spring there is a correction.
But it is curious that all this happens against the background of the extremely prolonged lower scale, where yellow changes to lime many times. According to the indicator description, this means:
Resistance / Overbought (Yellow) -> Crazy Bought (Lime):
Bull is breaking through a resistance.
Crazy Bought (Lime) -> Resistance / Overbought (Yellow):
This normally indicates a failed breakout, Price goes back to the resistance.
According to my observations in other situations it happens like this, the yellow area is replaced by lime, then yellow again, and then the trend is determined. Either red (falling) or green (rising).
But what I'm seeing here is unprecedented in my opinion.
The lime area has occurred 6 times, and is still changing to yellow.
Let's describe it this way. BULLS BREAK THROUGH RESISTANCE, GET REJECTED, STORM AGAIN, GET REJECTED AGAIN AND KEEP STORMING AND THE SITUATION IS STILL UNDEFINED. SINCE 24 NOVEMBER 2023, THERE HAS BEEN A PERIOD OF STRUGGLE FOR BITCOIN DOMINANCE.
However, now an event has happened. A trend has been broken. will it help strengthen TOTAL2 and TOTAL3?
Note
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.