BTC trade, BTC&USDT dominance analysis. When will the altseason?
Updated
Do you think such a medium-term trade will work for BTCUSDT?
Entry $29170
Stop $27999 (-4%)
Take profit $32450-32750 (+18%)
Potential profit/loss ratio = 4.5/1
The purple trend line since the beginning of the year is at $28350, stop at -1% below it in case of a squeeze.
USDT dominance is in the middle of a multi-month consolidation.
* USDT.D's upward movement to 8.20% will signal an exit from the cryptos to the stablecoin and, accordingly, altcoins will have a chance to lose another -20-40%
* USDT.D's downward movement to 6.90% will give a "fresh breath of oxygen" to altcoins and allow them to organize a mini growth.
Only below 6.90% can the alt-season begin.
BTC dominance is now above the important 49% level.
A signal that capital from BTC has begun to flow into altcoins will be consolidation of this indicator below 49%. And a drop to 44%-42% will only "heat up" the possible and long-awaited altcoin season.
This is all theory) But in practice, everything changes hourly, and our/yours assumptions should be insured by stop orders.
_____________________
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Entry $29170
Stop $27999 (-4%)
Take profit $32450-32750 (+18%)
Potential profit/loss ratio = 4.5/1
The purple trend line since the beginning of the year is at $28350, stop at -1% below it in case of a squeeze.
USDT dominance is in the middle of a multi-month consolidation.
* USDT.D's upward movement to 8.20% will signal an exit from the cryptos to the stablecoin and, accordingly, altcoins will have a chance to lose another -20-40%
* USDT.D's downward movement to 6.90% will give a "fresh breath of oxygen" to altcoins and allow them to organize a mini growth.
Only below 6.90% can the alt-season begin.
BTC dominance is now above the important 49% level.
A signal that capital from BTC has begun to flow into altcoins will be consolidation of this indicator below 49%. And a drop to 44%-42% will only "heat up" the possible and long-awaited altcoin season.
This is all theory) But in practice, everything changes hourly, and our/yours assumptions should be insured by stop orders.
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
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It looks like BTC.D and USDT.D are starting to curve down. It is not clear how long this will last, but at least a short-term rebound up of certain altcoins can be expected.
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