Altcoins Leading the charge while BTC plays catch-up!
Is everything we’ve learned about BTC leading the way while altcoins lag behind a lie?
Could altcoins be the secret service agent, sent from the future to show us the direction BTC will take?
And did the moon landing really ever happen?
On a more serious note, I noticed an interesting pattern when comparing the altcoin market cap to BTC’s market cap. Recently, it seems like altcoins have been leading the way, particularly when we observe how they’ve retraced to the moving average (MA) lines.
On a weekly timeframe, altcoins hit the 20MA line, with BTC following suit three weeks later. Altcoins then proceeded to reach the 50MA line, and BTC followed five weeks later.
Now, altcoins have hit the 200MA line and seem to be finding support there. At the same time, the BTC Dominance chart is facing significant resistance, suggesting a potential trend shift in dominance between alts and btc soon. This could align well with the observed pattern. While the next move for altcoins is uncertain, BTC may still need to drop and hit the 200MA line to continue following this trend.
The 44k area is also a critical zone where multiple former trend lines converge, potentially providing strong support and an opportunity for BTC to gather the liquidity it needs to resume its path toward 100k. Take a look at some of my previous BTC analysis charts to see what i'm talking about here and why the 44k area might be a good short term target.
Thanks for reading, good luck trading and make sure to follow for more!
X: @PuppyNakamoto
Could altcoins be the secret service agent, sent from the future to show us the direction BTC will take?
And did the moon landing really ever happen?
On a more serious note, I noticed an interesting pattern when comparing the altcoin market cap to BTC’s market cap. Recently, it seems like altcoins have been leading the way, particularly when we observe how they’ve retraced to the moving average (MA) lines.
On a weekly timeframe, altcoins hit the 20MA line, with BTC following suit three weeks later. Altcoins then proceeded to reach the 50MA line, and BTC followed five weeks later.
Now, altcoins have hit the 200MA line and seem to be finding support there. At the same time, the BTC Dominance chart is facing significant resistance, suggesting a potential trend shift in dominance between alts and btc soon. This could align well with the observed pattern. While the next move for altcoins is uncertain, BTC may still need to drop and hit the 200MA line to continue following this trend.
The 44k area is also a critical zone where multiple former trend lines converge, potentially providing strong support and an opportunity for BTC to gather the liquidity it needs to resume its path toward 100k. Take a look at some of my previous BTC analysis charts to see what i'm talking about here and why the 44k area might be a good short term target.
Thanks for reading, good luck trading and make sure to follow for more!
X: @PuppyNakamoto
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