A possible falling wedge pattern emerge in the altcoin total marketcap.
This data is skewed heavily by Ripple and Ethereum marketcap.
Another fairer assessment is to analyse the market breadth, i.e, looking at each individuals coins, 2000+ in Coinmarketcap and 5000+ in Coingecko.
Market breadth analysis is telling us an interesting story, with more and more coins showing some strength versus BTC.
A possible short term bottom in the altcoin market is possible, which means that there is possibility that they will rise in USD together with BTC.
Regardless, in this situation and environment, this is not 2017 where you can punt any coins and everything goes 10-20x. Coins will go up SELECTIVELY on a ROTATIONAL basis. I.e, one by one and when there is news or something fundamentals going on.
Last but not least, we are still far above the low on November 2018, which is a bullish signal.
Confirmation of bull market only happens once we surpass the June 2019 high.
This data is skewed heavily by Ripple and Ethereum marketcap.
Another fairer assessment is to analyse the market breadth, i.e, looking at each individuals coins, 2000+ in Coinmarketcap and 5000+ in Coingecko.
Market breadth analysis is telling us an interesting story, with more and more coins showing some strength versus BTC.
A possible short term bottom in the altcoin market is possible, which means that there is possibility that they will rise in USD together with BTC.
Regardless, in this situation and environment, this is not 2017 where you can punt any coins and everything goes 10-20x. Coins will go up SELECTIVELY on a ROTATIONAL basis. I.e, one by one and when there is news or something fundamentals going on.
Last but not least, we are still far above the low on November 2018, which is a bullish signal.
Confirmation of bull market only happens once we surpass the June 2019 high.
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.