Welcome back dearest reader,
I will probably get alot of backlash from bitcoin maxi's for writing this post, i have read and heard it all by now. I'm not disregarding their opinion on bitcoin and i think it will do well, but not as well as some altcoins which i have monitored.
First the technical part:
~Bitcoin has seemingly formed a double top pattern with now on the weekly a gravestone doji (confirming this sunday). Looking at previous action from 2019 and 2020, these have been topping indicators and indicate a bearish reversal which in turn will be bullish for altcoins.
~MFI --> massively overbought.
~Stoch RSI --> nearly at 100! Screaming for a reversal.
Over the past months everyone seemed to think ''this is the top, only to see dominance rise further and alts bleeding''. It is possible that BTC.D doesn't correct immediately, but i do suspect an altseason to be really close.
Sentiment: When everyone... i mean EVERYONE is bearish. ''Alts to zero'', ''bitcoin is the only good coin'', ''Ethereum is dead''. This has historically been the perfect time to buy. And that time is now.
''But, there are over 13 million altcoins now!''
Yes this is true, i don't think all of them are going to do well, stick to the ones available on big exchanges. Those have 400 different ones on average. From those i have covered some allready which i think are going to do well, it's worth your time to look at those ideas.
Any questions?
Ask.
~Rustle
I will probably get alot of backlash from bitcoin maxi's for writing this post, i have read and heard it all by now. I'm not disregarding their opinion on bitcoin and i think it will do well, but not as well as some altcoins which i have monitored.
First the technical part:
~Bitcoin has seemingly formed a double top pattern with now on the weekly a gravestone doji (confirming this sunday). Looking at previous action from 2019 and 2020, these have been topping indicators and indicate a bearish reversal which in turn will be bullish for altcoins.
~MFI --> massively overbought.
~Stoch RSI --> nearly at 100! Screaming for a reversal.
Over the past months everyone seemed to think ''this is the top, only to see dominance rise further and alts bleeding''. It is possible that BTC.D doesn't correct immediately, but i do suspect an altseason to be really close.
Sentiment: When everyone... i mean EVERYONE is bearish. ''Alts to zero'', ''bitcoin is the only good coin'', ''Ethereum is dead''. This has historically been the perfect time to buy. And that time is now.
''But, there are over 13 million altcoins now!''
Yes this is true, i don't think all of them are going to do well, stick to the ones available on big exchanges. Those have 400 different ones on average. From those i have covered some allready which i think are going to do well, it's worth your time to look at those ideas.
Any questions?
Ask.
~Rustle
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.
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.