ALTCOIN dominance (Y20.P4.E1).MACRO.Bullish.Can't be ignoredHi All,
I saw someone tweet this yesterday as the weekly chart and he makes a good point.
Its what many of us have been saying, at the macro level.
It also looks like when you see many Alts hitting their 0.618 or more retracement level with some already completing the reversal bottom pattern.
Its good to see it from another perspective, like this chart. It can't be ignored.
Cheers,
S.SAri.
Altcoinmarketcap
Alts market cap putting pressure on key resistance at 142 B Looking good currently. Seeing the market cap above 142 billion by the end of this week is definitely not out of the question. A weekly close above 142 billion opens up next target at 155 billion (which I believe will be another big test for the bulls).
Bitcoin Dominance Continuing Its DowntrendThe 5-day chart shows well how bitcoin dominance rose slightly to test resistance in the past couple of weeks and is now capitulating under the pressure of the emerging altcoin bull run.
As forecast in our chart last week. Visit the chart and click the play button...
Note: SparksterSignals (including our technical analysis and our algorithmic backtested signals) are not provided as financial advice.
Bitcoin Dominance Losing Steam, Again?
Bitcoin Dominance made a strong recovery in recent weeks, up to it's key resistance trendline.
The weekly chart shows BTC is making a test of that trendline to squash alt coins back into a little corner of the crypto pie.
But on the daily and 12 hour charts it appears the alts are fighting for a strong comeback.
IF this week ends with bitcoin losing about 2.5% market dominance, THEN we may see it's test of the trendline rejected and the start of a major new bull run for the alts.
ALTCOIN MARKET CAP 2020I believe Altcoins will experience accumulation through the rest of the year with breakout in the fall and start of a massive bull run. Perhaps they are left in the dust yet again as bitcoin experiences the beginning legs of the bull market. To me this reminds me of a basketball bouncing and if you drop a basketball on the concrete it will bounce and each bounce has a lower high all the way until it is nearly dead on the ground, yet if given energy (fresh capital inflows - profits from bitcoin moving up) it will start to bounce again.
A slow and long bleed in alt coins would really cause a lot of people to capitulate after underperforming in 2019. I could see this happen again, yet in fall all of those losses could be erased in a matter of weeks if not days.
This is for my own reflections as a trading journal and not to be taken as financial advice. I am using it for educational purposes to see how I progress in my abilities and skill as a swing trader.
29b$ since my idea!(the reason i shared BTCUSD chart is that people look at these idea rather than TOTAL2 or BTC.D, sorry for that!)
in my idea :
i pointed out a time resistance that may be mark the beginning of trend reversal. these time resistances proofed to be right if you put them in a right way.
ok now alts are booming and it's sitting at 87b$ and up almost 29b$ (Wow!!) from where i pointed out a reversal.
people just dont pay attention i called the bottom on bitcoin in this analysis:
i predicted the bottom with 100$ tolerance. i said it would be in 3320$ but it bottomed at 3215$. so far so good, people should see these things. i'm helping you people with nothing in return!
ok go back to analysis:
as you can see here in this picture :
we are almost above 38.2% fib level since last top to last bottom it is a positive sign. is think it means we are headed to test 61.8% which is a psychological and even number, 100B $ it would be the first stop for altcoins(i think).
looking at BTC.D :
it seems we are breaking down at bitcoin dominance.
so what now?
in a simple word if bitcoin dominance continues to dump and if TOTAL2 continues to rise i think buying altcoin even at this point would be a good idea to look at alt market i would like to look at majors and take a look at bitcoin comparative charts.
here we have ETHBTC chart:
ETHBTC still bearish as it is below 0.02309902 so above that level it is reasonable to change bitcoin to ethereum. but i thing the bottom is in for ETH and we will see price appretiation.
in this chart :
XRP need to break 3770 satoshi level to be bullish on so wait for that to happen even if you trade USD pair. i think btc pair is important to be bullish.
Litecoin:
TOTAL2 - Best Case ScenarioIf this isn't a big bear market rally then maybe we complete an inverse head and shoulder here and can break out and even break that bear market resistance line. Who knows man, only time will tell. Wouldn't be surprised to see price follow the line or dump to new lows to be honest.
**Not Financial Advice.
Peace.
ALT SEASONAlts are at the bottom so I am going to go all in. This is not financial advice. I am going balls deep Long. wish me luck as I wish all of you success in your trades. Fair winds and following seas to all my fellow sailors. May we all make profits in the markets!
*Not financial advice my brothers and sisters.
I see this as the long term bull channel that bitcoin is in as well. we should ride out the beginning of the bull market in this channel.
ALTCOIN MARKET RSI Bullish divergence aiming initially at 81B.I am comparing the 2018 Alt Market Cap on 1W with the current (June 2019 - date) on 2D. There are some obvious similarities with the most significant of all the bullish divergence on the RSI. The MA50 is also on the same pattern while the candle action is nearly identical. Because of this I give high chances of repeating a similar bullish break-out soon. With 83.50B as the Resistance, my initial target is 81B.
ALTCOIN Market Cap. Impressive Symmetry.This is just a quick reference to where the alt market may be heading after Bitcoin's latest sell off.
To me it is impressive how the market managed to follow a downtrend that symmetrical to the uptrend of January - June.
Do you think it can go all the way down to fill the pattern? Personally I see the next symmetrical Support levels as strong candidates for the start of the next uptrend based on a comparison with the previous Bull Cycle. Also the 1D MA50 should start reversing around 50.50 if it follows the symmetry.
Altcoin Market index Analysis."In the name of Allah, the Most Gracious, the Most Merciful"
Altcoin Market index Analysis.
Note: This is only for Educational Purpose this is not Investment advice.
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Thanks
Adil Khan
Alt coins Market Cap (With example bitcoin) from current to HighAlt coins Market Cap (With example bitcoin)
Bitcoin have same structur (Bitcoin correction or flat) Altcoins go UP in 2016.
Maybe same scenario in 2019?
Maybe we will repeat the scenario of rapid growth of altcoins. Many have already lost faith in the Altcoins. Similarly, it was with the bitcon on the price of 3000-4000. Altcoins as you know, are about 300% behind Bitcoin. I remain optimistic about the growth of altcoins.
its coming again ! here we are, in the beginning of a parabolic uprun fractal. lets look at this.
if you open your own chart and compare this structure in 4hr with the current one in daily, you'll notice a few things :
1. bitcoin accumulations that slowly coming back to the neckline of selling climax, may lead to a parabolic uprun.
2. when this uprun starts after a short consolidation, be sure to have stoplosses on your alt/btc pairs(altmarket index) :
3. and you can clearly see when to buy your cheap alts again.
although there's a long setup, this is not an investment advice, it shows only a invalidation level( daily close below stop area)
Is the Altcoin market about to explode?Those who are into fractals will love this.
The RSI on the 1W Altcoin Market Cap (ex BTC) is posting a similar sequence to the November 2014 - March 2015 price action. The small dip that followed gave way to the start of the bull market on Alts.
Is this an early buy signal on Alts? Are we just 2 months away from the new bullish explosion of the market?
Personally I do believe so. Let me hear your thoughts on the comment section.
Also if you are wondering what Bitcoin looks like on the long run, take a look at this: