Where are the alts going next!?!
Updated
As you can see alts were on the opposite side of BTC dominance which until some point showed nicely what will happen to alts market.
What was that point?
It makes sense it was the 5th Elliot wave, which is usually the most optimistic one, where alts have joined BTC in growth while BTC was still growing faster than the majority of alts.
Many have been talking about alts season coming or not? Do you think we could have a season as we had in 2017 where alts growth was stronger than the one from BTC? Why yes, why not? What kind of season is coming next?
Leave your thoughts in comments and we can discuss it!
If you like the analysis don't forget to click the like button also.
Stay humble, stay strong!
What was that point?
It makes sense it was the 5th Elliot wave, which is usually the most optimistic one, where alts have joined BTC in growth while BTC was still growing faster than the majority of alts.
Many have been talking about alts season coming or not? Do you think we could have a season as we had in 2017 where alts growth was stronger than the one from BTC? Why yes, why not? What kind of season is coming next?
Leave your thoughts in comments and we can discuss it!
If you like the analysis don't forget to click the like button also.
Stay humble, stay strong!
Note
There are many timeframes to take into consideration here. Super short term alts should go up:
Will write more about my short term and midterm view later on..
Note
Midterm - in the next couple of weeks, alts should start to rise! Weekly BTC dominance graph was showing bearishness and is now confirming it step by step.
What about short term view and projection? Any thoughts from your side also!?
Note
Seems the answer for short term was hidden in the daily graph.We had cross-ups with convergences which showed us trend change on previous occasions also.
There was a signal on the 25th of August showing that in short time frame BTC dominance would grow. There are only 2 scenarios for that - either BTC raises more than alts or BTC falls more than alts (since they had opposite correlation). We got the second option. However, the weekly graph is bearish, so BTC dominance will need to turn around sooner or later. At the turning point, alts would go from one season to another.
Note
Typo: more = LESS, since not logical otherwise!"either BTC raises more than alts or BTC falls LESS than alts (since they had opposite correlation)"
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