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ALT

Bitcoin dominance is in danger?CRYPTOCAP:BTC.D Many people are still talking about upcoming alt-season, however I believe alt-season is here for three month! Many coins made ATH even to BTC pairs. Looking at weekly chart makes me think that we are actually getting close the end of the party. I specified previous alt-seasons in the blue blocks, together with RSI state in yellow blocks. As you can see we still have room on weekly RSI to deep, dominance also broke down the uptrend and went under EMAs. Despite this situation I would be careful with alts. Most likely we see another step up for BTC and keep in mind that as soon as it happens, alts will crash and dominance will sky rocket. Of course overall we got a chance for super cycle and continuation of the alt-season with the slow growth of BTC, but I would not count on that. Let me know what you think in the comments. Good luck!
CRYPTOCAP:BTC.D
by dekotrd
2
ENJ BREAKOUT! GOLD CROSS ON 1HR PLAYING OUTENJ has put in a complex double / rounded bottom and broke above the short term upper trend line as well as local resistance level, with volume, possibly triggered because of the bullish golden cross of the 100 & 200 SMAs confirmed on 1HR TF. For ENTRY - Look for a retest of fibs & local support levels. More bearish short term idea would be a possible retrace/retest of the rounded bottom pattern (but I wouldn't bank on that). ENJ can pump pretty hard, and with NFTs still in the news, I'm definitely bullish on short / mid term as alts start to take off again. Don't forget to take profits though - like many alts, ENJ tends to put in these weeks long retrace/consolidations after/before pumps. happy trades, Crypto D
Long
by cryptodonovan
2
AUDIO UP 1425% SINCE MY LONG CALL 3 MONTHS AGO!WOW. Remember that time back in January? When I told you to long AUDIO? When it was at 20cents??? I knew Audius was an exciting project that traders would want to get in on... but I did not expect it pop off this quickly! Up 1425% percent since that post, completely ignoring the market's recent short term downtrend. So how do you trade this? Honestly, I don't even know. It's not in my strategy to buy pumping small caps at ATH, especially when I'm already long... A sensible trader would tell you to take some profits... but a sensible trader would also have told you that a month ago lol. I'm a pro of selling too early, and I'm sure glad I resisted that instinct this time around. Even if I do take some profits, I plan to hold at least 50% of my bag long term. AUDIO might keep up this momentum for a while, but I think we all know that roller coasters must drop eventually... just don't ask me when that will be lol happy trades and Viva L'AUDIO!!! CD
Long
by cryptodonovan
12
XLM CorrectionBTC seems to be taking its time in correction or retracing before making up its mind about what it wants to do. Coupled with the fact that institutional investment hasn't slowed it seems that our Bull Run has in fact been the result of institutional investing more than anything else. This means the long awaited Alt Coin Rally is still a ways off but that when it does hit, it will be driven to astronomical heights thanks to the institutional investments that began around August of last year, or perhaps earlier. What does that mean for XLM? In the short term the most reasonable price point is the previous low of .314 to have a 47% retracement to continue on the parabolic trend like it has for the previous two legs. Otherwise the next options are the Major supports at .27 and .182 respectively. Those values being 44.5% and 70% retracements respectively. These values would coincide with breakdowns with BTC movements, and previous behaviors from ATH levels of which are quite reminiscent of the 2017 rally. If that is the case then the most logical bottom for XLM is actually just over 18 cents. This could happen in a very short amount of time such as a couple weeks or about 4 months. Once that level is reached, depending of course which level, it will either go back to previous ATH at around .608 or skyrocket by a factor of 50 to $7.40. All that to say this, I am setting buy points at .32, .27 and .182 and will be adjusting them if I am awake to do so based on whatever BTC chooses to do. BTC may very well break down to the 40k range or even 20k ranges in short order, which would push XLM to the .20's and teens. Unfortunately, every ounce of price action that we can predict from XLM is 100% reliant upon the actions of BTC. So if BTC retraces and bounces back early then so will the retracement of XLM take longer. XLM must meet the .32 - .314 threshold first in order to continue its parabolic pattern, otherwise it would have done so already... beyond that is anyone's guess, and up to the BTC community to decide... What do you guys think *Not financial advice*
COINBASE:XLMUSDLong
by Sephiroth4269
16