It doesn't seem like it wants to fallAs long as the green support zone continues to operate ; target will continue to be 50 .
When the black resistance is overcome, the double bottom target will come to the fore ; corresponding to 60
What I'm talking about is medium term, not short term.
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Altcoinsvsbtc
BTC Dominance (Weekly EMA19 Resistance?)💎Technical Analysis Summary💎
BTC.D
-The Bitcoin Dominance value is retesting the EMA19 on the weekly timeframe
-If the recent history will repeat itself, we could expect rejection and retracement back to 40 level
-And during its downward movement, the altcoin space will experience good recoveries or upside rallies
-For now, we can see the BTC Dominance is reacting to this EMA as resistance
-If a bearish confirmation will happen this week then we could see a short term Altseason
-Take note, this is only a guide, Bitcoin price action is still the king
-As long as Bitcoin is showing good signs of strength, strong altcoins will continue to perform
-So please make sure to trade only coins that are showing good strength in terms of price action
-Good luck guys, and stay safe!
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ALTS Bullish 📈Altcoin market cap on the chart, as you can see we double bottomed out to break through that falling resistance line.
We then found ourselves on previous resistance and failing to break it.
I believe now we should have our last minor dip before we continue our bull run into November.
I have drawn out a path of which I think fits the run the best (obviously it wont follow it 1/1)
VETBTC - BULLISH CONTINUATIONSince breaking out of the sideways accumulation the market has made a correction to retest previous resistance as new support in confluence with the 0.618 both acting as a nice demand zone for this price. As you can see on the daily timeframe the market is forming a double bottom pattern at this zone. This is a great price to BUY and wait patiently for the breakout above the descending corrective trendline.
Bitcoin Dominance - Double Tops or Double Bottoms?I see two possible directions from here, green arrows up or red arrows down to same ATL or a new ATL and then green arrows up. Red arrows down gives us a short lived altseason (weeks), unless we get below 30s and then we could last a bit longer. Or, we get a double bottom right now and BTC starts to gain its dominance back quickly.
BTC DOMINANCE is bouncing, Bad news for Altcoins!Hi there,
Bitcoin Dominance is bouncing and this is not good for Altcoins at all.
BTC.D was moving in a downtrend channel for about 50 days and I expect to see a breakout of that.
What will happen?
In the best case when BTC.D is going up if Bitcoin goes up too, Altcoins will fall with a low slope.
In the worst case when BTC.D is going up if Bitcoin goes down, Altcoins will fall rapidly.
So In my idea this is a bad time to be with Altcoins, Also Altcoins growth a lot in the past 50 days and these prices are not proper to buy for next leg up.
Be carful with your trading and investing.
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Bitcoin Dominance (Potential Altcoin Season?)💎Technical Analysis Summary💎
Bitcoin Dominance
-We can see the BTC Dominance level is respecting the EMA19
-The Dominance level 45 is previously supported now acting as resistance
-This consolidation below support is potentially a bearish pattern
-If the last support at level 43.50 breaks and closed lower
-The bear flag pattern will be confirmed
-I'll be expecting another run for the altcoins space
-The month of September would be interesting
-The next potential support level is somewhere 42-41
-Be ready and when the oppurtunity presents itself
-Make sure you have a trading plan to trigger the buy button
-Good luck and stay safe everyone!
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Trading Involves High Risk ⚠️
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Aion should be able to reclaim May highOnce the Alt-season kicks in proper, can see this claiming May 2021 high as first target, which is a 3x vs BTC.
Formed a higher low from the bottom, and Stoch Rsi (weekly) is at a good entry point.
SANDBTC UPDATESAND on the weekly timeframe has a very nice impulse breaking above the previous high followed by a correction to the 0.618 FIB, i am expecting to see the continuation to the upside, down on the 4hr timeframe we can see the market is clearly respecting this ascending trendline acting as a nice strong level of demand for this coin, i am waiting for confirmations at this zone before entering a long.
Potential breakout soonThere are 3-4 indicators currently pointing towards a potential breakout very soon.
- RSI touched the oversold area.
- RSI decline has been broken out of
- Sell pressure is declining
- A falling wedge breakout that appears imminent
I'm not trading NANO however my suggestion for a stop loss would be best below the wedge at around 0.0000940.
The falling wedge breakout target would be at 0.0001665 (52%) the next resistance above that are 0.0002370 and 0.0003600.
This is not financial advice.
WABIWabi looks to be correcting in a Bullish ABC pattern trying to break free from the massive triangle top trend line. With BTCD looking weak and my W5 prediction on BTCD of 35% in Aug /Sept I would expect a move like this based off my bias. GL guys.
BTCDThe smaller H&S pattern did originally start to break down as I expected but the bulls were hiding on the 4h and now we are still inside of this larger H&S pattern that I have outlined with a target of about 41% . The LTF on most crypto currencies look weak here especially with the 4h chart still showing another push to BTCD. We have SL in place on all trade ideas I shared here and with my group. Let's see if the initial push off the 4h BTCD chart caused most of the damage as I suspect.
1 thing to note is the daily charts have bottomed so I feel that it is very likely bottoms are in on most of the coins.
TVK continuation trade is in play! TVK is an NFT play that has shown incredible volume off the recent lows and is now consolidating after a strong first leg.
The "Bot" long setup fired on TVK overnight. Harmonic AB=CD continuation trade.
The entry on this setup is technically 614 Sats. Any dips below that are above the 499 invalidation level are fair game.
Will look to lower trendline pennant to add.
The rules for this setup, looking at the fib on the right
- If price reaches .5 (blue) = Move SL to break even
- If price reaches .66 (aqua) move SL to trailing
- Final TP objective 1 (Green) = Close entire position (~945 sats)
There is another objective above that is beyond the scope of this setup, but may provide traders with an extended target if they wish to only close 50% at 945 sats and use trailing TP up to the 1241 sat Chaos PRZ/.5 HTF retrace
The decision will rest on what the broader market/volume indicate if and when the 945 sat target is reached
If price trades below 500 sats at any time.. This setup is invalidated!
#ALTCOIN SEASON only if it happens!!!Welcome to this quick update, everyone.
I got many requests for analyzing the Altcoin Marketcap
BTC has been acting strangely these days and I am more of a TA guy rather than the fundamentals.
TBH Fundamentals play a very major role in Crypto.
But charts always give us a hint ahead of the news, doesn't matter Bearish or Bullish .
Let's get straight to the chart:-
The TOTAL2 represents the Total Altcoin market cap.
According to this chart, the Alt mcap must rally towards $800 billion in the next few weeks keeping in mind the $733 Billion mark holds.
Currently, we are at an important level of support.
Observe the channel support as well as the Yellow trendline.
Trying to breakout positively. Breakout and a bullish retest confirm the uptrend in altcoins which will eventually give us a green altcoin week.
What's your thought on this?
Do you think Alts will rally?
Share your views if you have any in the comment section and do not forget to hit the like button if you like my updates.
Thank you
#PEACE