ALTS
POO Coins are up 1.5X vs #BTC since June. HOW HIGH CAN THEY GO?This chart is of the market cap of #Altcoins divided by the marketcap of #Bitcoin.
If this ratio is going UP
Sh@tcoins (to give them their colloqiual name)
are out performing the #1 #Crypto asset.
("there is NO 2nd best.. " M. Saylor)
Risk ON.
Aka Silly season.
If this ratio is going down.
Then S coins are underperforming BTC
Bear market... S coins getting wiped out.
.... Got it?
Good.
Throwing on a Fib extension
(please draw your own chart... I am not a Fibonnaci expert by any means)
We can speculate how high,
and how much they will outperform.
and the magnitude of gains left on the table
Take Your pick of the extension level.
Or retracement Level if you are a Bitcoin Maxi, and don't believe a new ATH will be made in this ratio...
Good Luck in your speculations.
AVAX - SHAKEOUT before FINAL ATH📉Hi Traders, Investors and Speculators of Charts📈
AVAXUSDT, an ETH rival, is another altcoin currently trading lower than it's first ATH. This is important, because it makes for an excellent low risk and high reward trade.
Currently, we see the markets trading in a corrective phase where wicky price action and shakeouts are common.
I've been bullish on AVAX for a very long time, and we've seen great increases since my last update:
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BINANCE:AVAXUSDT
ETH Elliiott wave out look. If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
#ETH Roadmap bullish variant.
It's been a month. 🧵
Timing for the wave 4 of this variant on track.
Important things are W2 count reliant.
Alternation, Geo, and fibs.
So keeping an eye on alt counts as well.
Below 3k where 🤨
ADA : BIG NEWS for Cardano 👀👇📉Hi Traders, Investors and Speculators of Charts📈
In recent news we've just learnt that Cardano is being considered to assist in the upcoming voting processes!
Multiple US states are exploring the potential of leveraging Cardano for enhancing election transparency through the integration of blockchain tech into the voting process. Now this does not necessarily mean that ADA coin will be involved, but it does speak to the confidence in the Cardano blockchain.
This fits in well with the chart technical analysis, where we can see that the bullish news is just in time for a new bullish cycle.
According to the CEO of the Cardano Foundation, some US states have reached out to discuss the development of a blockchain-powered voting system. One of the biggest concerns surrounding elections is election fraud, and blockchain provides the perfect solution.
The aim is to conduct elections with increased transparency.
It is high time that we use the power and possibilities of blockchain. For voting purposes, a lightweight blockchain solution will enhance the transparency and accountability of the voting processes.
At the same time, Gregaard also hinted at similar discussions taking place in the UK where there have been enquires to blockchain based solutions for voting. Considering that Cardano has been in this space for a while and is well established, the probability of them collaborating in a blockchain-based voting solution is quite likely.
The Cardano Foundation, like many other decentralized blockchain entities, have already incorporated blockchain-based voting into its operations to democratize decision-making. Cardano employs Catalyst, a platform enabling ADA holders to propose and vote on network projects. This way, Cardano has already proven with a working product a way for blockchain based voting.
Cardano may face competition if the idea gains traction in the US. Other blockchain networks may also try to propose their initiatives and it is not guaranteed that this project WILL ultimately fall to Cardano.
But Cardano is well equipped for such a challenge. Recent data shows a surge in developer activity on Cardano, surpassing even Ethereum. This suggests that developers increasingly viewing Cardano as an appealing platform with opportunities comparable to Ethereum.
The influence of Cardano has extended beyond voting initiatives, as evidenced by its collaboration with the Dubai Police on a blockchain pilot project. This project aims to securely share sensitive data with global law enforcement agencies like Interpol, showcasing the diverse applications of blockchain technology in combating crime.
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BINANCE:ADAUSDT
Possible pull back on alts?Morning fellas,
Last night I posted a chart on Link/USDT.
A coin that outperforms others, and always looks bullish, even when it's not trending higher. I guess the hopes for Chainlink are high.
But there could be a pullback, while BTC.D moves up a little.
Lets keep an eye on it, most alts didn't run yet, so im still bullish on them.
Trade thirsty.
LTC - BIG NEWS : THIS Last Happened in 2020📈📉Hi Traders, Investors and Speculators of Charts📈
Fractals are a helpful way to identify how markets have previously moved. When identifying a similar pattern, it can be useful to speculate future potential price action. Fractals not only apply to chart patterns... but also to technical indicators!
We observe the bullish cross on our technical indicator; a bullish cross that lead tot he parabolic cycle in December 2020 (there hasn't been one since). I used this exact method to call the start of a new BTC bullish cycle. Find it here:
From a trendline analysis as well as moving averages, we get a support zone around $80. The price may very well wick towards this zone and STILL remain bullish.
Remember that as BTC trades sideways/range, we may see rallies across altcoin markets. I've created this post to give you a better understanding of the rotation between BTC and Alts:
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BINANCE:LTCUSDT
ICON #ICX Double BottomFrom the class of 2017 ICO boom
Showing signs of a recovery pump
should you participate ?
You should always lean into fresh altcoins with a strong narrative when you can.
But sometimes the older coins can provide action in the dull moments when other coins are consolidating ..
BTC.D will annoy many people when it fades (will happen anyway)Whilst in theory I'd agree with the maximalists that most of crypto is worthless and shouldn't exist it's ultimately my job to agree with the market rather than with other people (and of course especially not with those who care to _disagree_ with the markets)
Many will fall for the same trap that was fallen for in December 2020 and capitulate on alts during Bitcoin's inevitable surge past 70k having not realised what's coming _after_ that is clear as crystal for one whose eyes are open
The maximalist logic is akin to that of one who would have longed Nokia instead of Apple 10+ years ago because texts and calls are perfectly sufficient and there's simply no way the smart money should back the possibility of a _phone_ doing much more
Some very notable calls in recent years:
SPREADEX:NIKKEI and DJ:DJI both to 40k (over 1y in advance)
CRYPTOCAP:BTC pico bottom at 15k and recent local top at 70k
FX:EURUSD pico bottom & TVC:DXY pico top at 115
TVC:USOIL pico bottom at 68
NASDAQ:SMCI mega breakout at 100
NASDAQ:NVDA mega support at 120
NASDAQ:TSLA pico bottom at 105
NASDAQ:NFLX pico bottom at 165
BITCOIN CASH - To finally gain back some ground v #BTCBCH has been a one way trade since those heady post fork in 2017
But at this point time
there is an argument to be made in having a punt
u got a fairly low defined risk --- where u must exit and call it a loss
but there is upside potential , that suggests the risk may indeed be worth it.
Higher low ,
excellent pull back into a fib reload zone
gotta Risk it for the biscuit!
Holding ATH backed up by an inverted adamn & eve patternMorning friends,
There was a post last night with the first bullish setup idea, and now I'll follow up with BTC printing ATH backed by an inverted adamn & even pattern.
Maybe it holds the retest of the breakout, maybe we stay within the $50k to $60k range for a while until around after halving, then printing a new ATH once again and reaching levels between $95k and $105k.
Even though if it breaks the $100k it ain't gonna stop there. Just like when it broke $10k for the first time.
Lets find out.
Trade thirsty!
BNBUSDT - This ALT flashes Strong BULLISH Signals 📈📉Hi Traders, Investors and Speculators of Charts📈
BNB / Binance coin is another altcoin with good upside potential for the next bullish cycle. I expect this to come into full force only after the BTC halving.
Looking at the clear bottom followed by a bullish flag pattern, it seems highly likely that BNBUSDT may make higher-highs for the short term.
It's impressive to see that BNB mid-range support held, this shows a sign of strength from buyers. Around this zone the price ultimately made the inverse Head and Shoulders bottom pattern:
A little closer look in the daily, we see the bullish flag pattern forming. A breakout UNDER will invalidate the pattern:
From a technical indicator perspective, we see two strong "BUY" signals flash in the weekly timeframe, confirming a bullish bias:
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BINANCE:BNBUSDT BINANCE:BNBUSDT.P CRYPTO:BNBUSD
ADA impulse on its way?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Wow, what a mess.
The clearest thing I can see here is a ZZ pointing up and a move that retraced back beyond its origin.
Didn't squirt hard enough, it seems.
An impulse down would be ideal,
or could go sideways.
OPE! Putting in an impulse?If you find this information inspiring/helpful, please consider a boost and follow! Any questions or comments, please leave a comment!
Looking like an impulse coming in.
The move down is funky, but the 3 wave up is clear.
PF is holding it down.
2.9793 is the official pivot bulls want to hold.
3.29 break from here may change thoughts.
MATIC - HOT ALT🔥, but Bearish SHORT TERM📉Hi Traders, Investors and Speculators of Charts📈
MATIC has been very profitable to us so far; watch my previous update HERE:
If you've been following, you'll know I'm fundamentally bullish on MATIC. And it gets better than fundamentals - you could possible see a low entry point soon!
Polygon is unique in that it's a blockchain platform designed to work with another blockchain platform. It improves Ethereum's scalability - which we all know if the biggest problem of ETH. ETH dApps can use Polygon's sidechains, thereby making it a functional and fundamentally great choice as an altcoin asset.
One of the exciting things about Polygon is the partnerships it has established. Many big brands are working with Polygon to launch their NFT projects. Current partners include:
✅ Walt Disney
✅ Starbucks
✅ Meta Platforms
✅ Nike
✅ Mercedes
✅ Google
✅ Adidas
✅ Adobe
✅ Mastercard
✅ Reddit
While it might not pump as hard as other altcoins, it's also far less likely to fail than smaller , newer cryptos with similar aims - and it still has plenty of room to grow. Its partnerships make it an interesting buy for those who are interested in a well diversified portfolio, containing assets with real-world use case and strong fundamentals.
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BINANCE:MATICUSDT
When horizontal resistance lines up with trend resistanceAfter a solid support treasure hunt, gold has been found. Now we are attempting to break out of the cave with a solid wall to breakdown. A breakout from here will see a very nice move, and of course keep an eye on for a big wick down to retest the resistance trend line and horizontals after the breakout
Fueling on the LaunchpadLong story short - last time we were fiddling around with this level, NEAR rocketed to $20.
Now we are forming more support here and around this level....possibly fueling for a nice move higher. We have a few levels of support right below current price action, but my next trend line support is 33% away. I dont really wanna see the 12h structure break downward. 33% is alot, and I personally tend to miss the shorts more often than the longs. Because thats a great short.
POC support from 2022This is a POC level I found and marked up from May of 2022. With many test as resistance after that, I am hoping to see this hold as support. As of this posting, it has provided immediate support on the flush down, but we shall see if any real volume can come in here to push it higher. A breakout does depend on the broader market. BTC consolidation is great. BTC breakout is amazing.