ALT COINs breaking the almost 2 year descending channel
I made an interesting comparison between the TOTAL3 (ALT COIN Market Cap, i.e, excluding BTC and ETH) and the BTC Market Cap.
As you can see this ratio just broke the 2 year descending channel with big volumes, projecting a 1:1 capitalization between the two.
Heres are some key notes:
I've been accumulating on a couple of alts since the end of last year, and I hope now is the time to bring some returns on that.
Stay safe!
As you can see this ratio just broke the 2 year descending channel with big volumes, projecting a 1:1 capitalization between the two.
Heres are some key notes:
- The RSI and MACD bullish divergences also suggest a strong trend reversal.
- BTC Market Cap can easily reach 3 trillion dollars, the 2.618 fibonacci extension. This is a reasonable assumption since, in the last run, it reached the 4.236 extension quite fast. If both market caps should match - and my projection gets it's way - that means a 2 trillion dollars increase in the ALT COINs market capitalization (almost 3x)
I've been accumulating on a couple of alts since the end of last year, and I hope now is the time to bring some returns on that.
Stay safe!
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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.