2 Scenarios For BTC Dominance Alt Season Over?
Or just a short-term pullback coming?
Or maybe none of those and it just keeps on dropping?
Bitcoindominance
Bitcoin dominance falling day by day. Is this jus tbeggining ?Hello everyone ! Wish you all good and profitable day.
Today I´m here with something to think about as one of my friends contacted me and told me:
" Hey look dear Anoinvest, Bitcoin dominance RSI is really low, it should bounce and rekt alts again right ? "
Well here is my answer for you. It could happend Not necessary !
If you take a look at top left screen here is the beggining of alt season in 2017
You can see how RSI hit 6 here and it didn´t initiated bounce for BTC.D at all even vice versa it accelerated the dropping
and it took exactly 300 more days for Bitcoin to fully reverse the trend and fight its dominance back as people lost hope in alts.
Well its 11 days since Bitcoin broke down from its rising wedge pattern and its loosing its dominance every single day
Below you can see the rising wedge channel with possible EW count
MA200 points down for BTC.D and up for crypto total market cap exclude BTC
But thats not all !
Crypto total market cap exclude BTC did major breakout of important resistance on Weekly chart as well as MA100 & Ichimoku .
From psychology state I think we are hitting Hope/Take off zone
Don´t get me wrong ! Im bullish on Bitcoin long term & I really think it will hit and posibly pass 100K USD but its literally "only" 10x (1000%) from 10K where we sit at the time of writting.
And I really think lot of altcoins can overpass these gains well some of them allready did 200-400% gains in past one month.
Ass a BONUS: here is my "long term map"
Well to summarize it. RSI indicator is relative but I think 2020/2021 will be really great years for altcoins and crypto overall.
Feel free to leave a comment below the chart or ask if you are in doubts.
& remember that likes are highly appriciated ^^
Cheers.
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
Bitcoin Dominance Rising Wedge Breaks: Initial TargetsThe Bitcoin Dominance Rising Wedge has begun to break.
Ethereum and XRP are beginning to be the bigger breakouts. Given they hold larger marketshare %s versus recent breakout cryptos like ZEC and DASH, they will take more dominance away from Bitcoin . Remember, Bitcoin can continue to increase or trade sideways in price, and its dominance can still fall. All that has to happen to accomplish this is that altcoins have to outpace bitcoin (on a weighted average % based on market cap) in % gain.
I have 2 initial targets drawn, after which we can revisit:
Target 1: Key Fib level of 0.618
Target 2: Psychological level of 50% dominance which also happens to correspond with 0.382 Fib level
UPDATE:22/01/2020 "This will trigger the altcoins market"UPDATE:22/01/2020 "This will trigger the altcoins market"
It looks much worse for BTC Dominance than I thought earlier.
BTC Dominance will decrease little by little, which means that the very big increases upwards will also decrease. Therefore I expect that Bitcoin will move between $8000 and $14000 the coming 2 years.
BTC.D: Don't Underestimate the TD Sequential 9 & 50 Week MAAs can be seen on the Daily chart using the TI Indicator, we are currently at the 50 Week MA on a Sequential 9. While the long-term 200 Week MA is sloping downwards (has a bearish posture), the 50 Week MA is rising (has a bullish posture). It's also clear from previous TD 9's, whether buy or sell signals, have been very reliable in calling short-term tops and bottoms. The RSI is also considerably oversold.
I'm still bearish on Bitcoin dominance long-term, but remaining neutral as dominance is likely to find short-term support from current levels. It'd be reasonable to believe that dominance will retest the bear flag breakdown level, VPVR resistance as well as 21 Day MA around 66%, or even as high as the 200 Day MA at 69% that is now started to slope downwards confirming long-term bearish pressure.
TI Indicator: tonevays.com
Altcoin Dominance Eyeing Up A Breakout to 40% (January 2020)
Cyrpto Market About To Bullcross: 50 & 100 Week MA (January 2020)
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
BTC.D >> Bitcoin Dominance targets in 2020-2021Hi everyone,
I believe this space (cryptoland) is becoming very interesting as dominance slowly is shifting away from Bitcoin into some major alts whose projects have excellent execution and increasing/promising use cases as time progresses. Bitcoin continues to be a great store of value yet some alts are beginning to steal the show. It is my conviction that Bitcoin dominance is in a multi-year ABC correction (beginning 2017) having completed the A wave in 2018 & B wave (relief bounce) in 2019 & has begun the C wave a number of weeks ago.
Important note: With bitcoin dominance generally being in a downtrend over the coming year or two, this does NOT mean at all that the Bitcoin price won't appreciate. On the contrary: As its market cap dominance decreases, Bitcoin will continue to increase in price and adoption. It is a common misconception that Bitcoin price is positively correlated dominance needs to increase in order . Truth is: the correlation is very low.
Anyway, back to the chart: we present 4 targets for Bitcoin dominance which we think will play out in 2020-2021. Breaking the 50-53% level triggers another roaring alt season, not unlike the one of EOY 2017. By that time, Bitcoin would have likely surpassed $20k (its previous ATH) and so investors and traders would begin diversifying their bitcoin gains heavily into the Altcoins.
The targets presented are very technical, actually, based on multiple Fibonacci retracement analyses. We believe the end of the C wave would show an ATL Bitcoin dominance of 25%. AT that point, you can be almost sure that the bull cycle has ended and cryptoland is entering another multi-year winter (bear market).
Cheers,
Leb Crypto
btc.dupdate, if this is the start of a dominance reversal alts will get smashed here along with BTC, personally I am hopeful for a dump to $7500 so I can put all my alt money from Jan- Feb into a sweet BTC 1 month long but this could also be just another dip and BTC could just run to $11,400.
Ethereum even more bullish than bitcoin!!Hey there,
So Ethereum has really shown strength in the last few days,
especially in this current consolidation. ETH has gained more than BTC
in price lately and with the current bearish position of the Bitcoin Dominance chart,
we could see ETH gain momentum over BTC.
Take a close look at the factors desplayed on the chart and the text besides the arrows.
Many signs are signaling bullish entries for the intermidiate term future,
although I won't give you any specific instructions on what to do.
Ethereum retested its 200D EMA perfectly and that is where I also got filled.
I am currently look for ETH break its latest high, to then see follow through to
~224USD where next resistance is likely. We also are currently sitting at key resistance,
so if it is broken bullishly and with a close of candle, long orders can be set around that level
for retest in the near future (similar to 200D retest).
RSI is showing a ascending triangle on the daily chart which also signals bullishness.
TI Indicator is sitting at a green 1 with a 9 sell the day befor. Since the 9 sell didn't see
follow through to the downside, I am looking for a green 2 above a green 1 to give confirmation
for a long entry into resistance.
All in all looking rather bullish, with plently of room to the upside and very less resistance up above.
Check out my YouTube channel: Enlightened Trading
if you want some closer information and regular updates on crypto and the stock market.
Also follow me on Tradingview if you don't want to miss out on trades like the retest of the 200D EMA.
Follow me on instagram: @enlightened_trading_
Cheers,
Konrad
Dominance Bounce PossibleWe need to wait for a little more market structure to manifest itself before we make a decision from here where to go. Will the RSI cool off long enough to take us lower or will we have a meaningful bounce from here. The daily has broken down to lower lows on the RSI which indicates that was still have a high probability of going lower from here and creating another daily bear flag much like we did last month. I expect alot of congestion at these levels but once we break the 535 on the daily we can enjoy our altseason and bull-market. For now we will watch it bounce on the hourly and see what kind of market structure we have so we can have a bias from here.
God Speed,
Mr. Lucifer
BTC Dominance TA Update (Minor Alt Season Started?)Bitcoin Dominance breaks key ascending trend-line support a few weeks ago that's why we are experiencing huge gains on Altcoins.
Altseason may persist for a couple of weeks until the key support area is reached but still be cautious, BTC Dominance will have some pullbacks
to the upside and some Altcoins may see downward actions for a couple of days before another leg up to continue again.
Bitcoin dominance could drop below 64% before a rise to 80%Bitcoin dominance is trading inside the uptrend channel. Uptrend channel support is at 63.5%, and channel resistance is at just above 80%.
BTC.D could drop further and test support at 63.5% in the next few days.
If BTC.D manages to bounce from 63.5% then it could rise for the next few months, and it could reach above 80% which is also top of this uptrend channel.
63.5 should act as key support for BTC.D, losing this support will push this index down below 55% - and that could bring a bull season for altcoins/BTC pairs.
But Remeber, If BTC.D manages to hold 63.5% as support and bounce from this level then - it will sweep away many altcoin/BTC pairs, and they will make new all-time lows.
Bitcoin Dominance Bear ScenarioThis looks heading towards 62.66 to me, so altcoins should rocket up now
BTC.D When alt season endsStrong linear regression uptrend, likely this will hold pre and through halving. This is easily mistaken as bearish, but LR shows otherwise.
BTC dominance about to do a Midsommar...Or at least - that's what it looks like.
Now would not be a bad time at all to buy some alt coins on low to no leverage, even if you can only afford a few Cardanos :)
Alts starting to look, let's say, "interesting"....No way would I have the audacity to call the next "alt season", but this Bitcoin Dominance chart, assuming this week closes somewhere around here, is starting to make the alts look very interesting to me for the first time in a long time. Next week could be, well... interesting... for the alt coins. Let's leave it at that.
BTC.D | Altcoin Season Anyday NowJust like 2017, the altcoin season won't come slowly, it'll be a sudden rush and inflow of money.
We all know that we've topped out at 73% in the fall last year, and now we're just coasting below the big resistance level at 70% dominance.
There is no more support until we get an alt season, please take a look at how crazy those candles look in the past week, it's almost as if they're trying to hold this coasting for as long as possible.
Every single altcoin has bottomed out or has started going up in price of Bitcoin, as we've seen multiple multiple coins doing 30%+ in the span of 24 hours.
Please let me know your thoughts and if you'd like to chat with me, check out the telegram links below.
As always please do your own research, I am not a financial advisor.
(BTC.D) Altcoin Dominance Eyeing Up A Breakout to 40%With altcoin dominance closing back above the rising 200 Week MA last week, confirming Bitcoin's long-term weakness in market dominance, "ALT.D" (1-BTC.D+99) has again held the 30% support a second time and is looking for a breakout above 33.75% with a target to 40%.
This would additionally be a TD Sequential trade on the Weekly chart with a Green 2 going above a Green 1, with oscillators (RSI, CMF and MACD) pointing to further upside. There will likely be some resistance and profit taking around the 50 Week MA around 35%, half way to the target, but I don't expect it to hold for long if volume continues to rise. The momentum would likely be too strong preceeding the confirmed trend change.
Reward/risk: 2.1
Entry: 33.76% - TD buy signal and and new swing high since July 2019
Target: 40.7% - Previous support level as resistance and 100 Week MA confluence
Stop Loss: 30.50% - Breakdown below the open of the 1 candle, 21 Week MA and into support range = bearish
To me, this is a perfect trade.
Previous altcoin dominance TA:
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
BITCOIN Dominance outlookI`ve made this chart 6 months ago. Its performing well up to today.
This could mean alt-season is just around the corner.
How much Price will go down from actual levels will depend from amount of new money entering the markets.
- this is just my opinion and no investment advice
ALT SEASON IS JUST GETTING STARTEDHello traders as you can see we have broken through key monthly support on btc dominance chart. Majors have been outperforming btc and that will continue. The maxis have had their fun but now its time for them to be punished. Target in the 50% range.
Bitcoin Dominance TA Update (Altcoin Season?)Bitcoin Dominance
BTC Dominance is currently trading at the key support area after falling from a cliff last 14th of Jan.
If BTC Dominance can't get above 69 levels there is likely a bearish cross of 50MA and 200MA will happen in the coming days.
This will drastically shift the momentum from Bitcoin going to the Altcoin markets.
Meaning, We will experience an Altcoin season for 1-3 months.
I have seen multiple Altcoins starting to pump and have the potential to explode within 1-2 weeks.
I'm getting excited but still using precautions in every trade.
I will update this chart after a few days when we have enough data from the market.
BTC Dominance TA Update (Alt-coin Season?)BTC Dominance
Bitcoin Dominance dropped like there was no support around 69-68 levels. BTC Dominance is now at 67 levels giving Alts/USD pairs a minor pump or relief rallies.
If BTC Dominance closes the candle below 200MA, I am looking for this potential bearish triangle pattern which will lead the price much lower in the coming months.
Things are really getting interested right now, I will update the market when the Dominance cools down.
ALTS WILL GO CRAZY WHEN THIS LEVEL IS BROKEN Hello traders what we got here is the btc dominance chart. When the monthly level here is broken alt season will start.
Loading a dip?Hello everyone, this is our view on CRYPTOCAP:BTC.D , enjoy!
Analysis:
Most of alts are pumping hard by now, but they can hold this rally no more. So now i'm explaining: we're stuck in a big ascending wedge, which is currently supporting and resisting the price and i believe this is a lower retest after the sharp upper one. Then i drew 2 families of lines: bot-top (blue) and top-bot (red). I believe we'll follow them thoroughly. We've also faced a parabolic move which completes with next dip. We won't breakdown these two major patterns unless ma200 and ma50 form a death cross. Then i strictly recommend to go long on alts as they will pump a lot. First target when we'll turn long in the next days will be ema25 (69.65 ca). First signal of a reversal is the breakout of wma10. Large bollinger bands going down, we'll breakdown to oversold and then rebounce maybe after a little consolidation to let them stretch up. We already crossed ichimoku cloud, which is bearish itself, but it is also very thin next, so it won't act as a resistance for price to go up; they suggest we're then targeting 70.03. No change in trend suggested by fisher transform. Lower lows targets on laggings (chaikin, moneyflow, rsi), while they're just about to form bullish divergences with price going down. Stochastic (14,3,3), which also made a golden cross, and uo already formed a bullish divergence. Bearish momentum suggested by ao and macd (on it's way to form a bull divergence btw), bullish signal will be for macd to form a golden cross and for ao to mark 3 subsequent green candles. Fear accumulation this term, that's the begin of a downtrend reversal.
Strategy:
Wait for laggings to complete the bull divergence and then short on alts as they will bleed.
Targets: 68.90 - 69.65 - 70.03 - 70.06 - 70.96 - 71.14
An update is coming as far as this prediction ends.
Trade safe. Anlvis.
