I believe the charts show we may be very close to an Alt season.
Chart show Bitcoin Dominance as percent of Crypto Market.
Reasons I believe an alt Season may be close.
1. We are at the top of a rising Wedge.
2. We are at the top of a parallel channel.
3. Sentiment is in the dumpster.
4. The Fibs look right for a .618 retracement to a support level
from recent swing highs to lows.
5. We hit the Fib .702 retracement from all time highs on Dominance.
Only time will tell. But If this does happen the rhetoric to never sell will once again be in full force. I will take something off the table if this hits.
Chart show Bitcoin Dominance as percent of Crypto Market.
Reasons I believe an alt Season may be close.
1. We are at the top of a rising Wedge.
2. We are at the top of a parallel channel.
3. Sentiment is in the dumpster.
4. The Fibs look right for a .618 retracement to a support level
from recent swing highs to lows.
5. We hit the Fib .702 retracement from all time highs on Dominance.
Only time will tell. But If this does happen the rhetoric to never sell will once again be in full force. I will take something off the table if this hits.
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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.
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.