Btcd
Similarities to Wyckoff AccumulationBitcoin dominance shows similarities to Wyckoff accumulation here, getting ready to enter into Phase E after SOS in Phase D.
This chart inspired by a comment from @averkie_skila on my previous Bitcoin Dominance chart here:
This Time is Not Like the OthersPrevious tops for Bitcoin Dominance in this range have behaved similarly, as has RSI. Each time we topped out, RSI moved higher and higher and then dropped hard. This time RSI has formed a falling wedge, and it looks indecisive.
It could be seen as a bearish divergence, as RSI moves down while price moves up or sideways. However, as RSI has already fallen significantly lower, it has room to spike upward along with price.
I think the likely scenario here, is a move up to 50-54% and then a strong move down. It could make a move down before doing so, but not back to the lower range.
BTC DominanceBITCOIN DOMINANCE,BTC.D upcoming move is small correction follow by pump which will definitely bad for alts
Trade Alert - Long EthereumTraders,
A wick down tagged our neckline precisely as expected. Now, we’ll probably incur a few more days of price action down in this area, but I’ll buy now to be safe. It’s only 50 dollar down to that neckline. Target will be 3,000. SL will be 1500 for now (to be adjusted as that 200 day ma moves up).
More trades to come.
Stew
Altcoin Strength Indicates Dominance Will Drop!Traders,
As outlined in this mornings video, altcoins remain relatively strong as compared to Bitcoin. This is a bullish indicator that alts may be gearing up for a bit of a run in the next few weeks/months.
Another chart to keep a close eye on, of course, is our BTC.D (Bitcoin Dominance) chart which is currently showing a bearish Head and Shoulders pattern.
Have this chart on your list for future observation. It is fair to become more aggressive alts once that neckline breaks.
Best,
Stew
No Breakout Yet, No Massive Drop EitherBitcoin Dominance looks like it wants to head down to 45-46%. Why?
- We're moving up within a parallel channel on the weekly chart here, good chance we'll see the bottom of it again.
- Our highest weekly high did close above the previous one, but with no wick and not as high as our highest wick. Hard to call that a strong breakout
- Volume isn't here yet to bring it higher & MACD looks like it wants to turn down, while AO may cross soon as well
Conclusion:
- No altseason yet (a mini-recovery could occur though, but they could just as well drain more if BTC drops significantly with another dominance drop)
- No dominating bitcoin move yet
📈 Bitcoin Dominance Clearly Set To Move Above 53% to 58%At times, charts can be quite difficult to read yet at other times, the end-message can be quite clear.
Bitcoin Dominance (BTC.D) is giving out a clear message and that is up.
Mid-March, BTCD moves above EMA100 weekly on a major green candle. The action that ensues is what makes the message clear.
For the next month and a half, 6 sessions/candles, BTCD consolidates by going sideways... 100% sideways.
After 6 weeks of consolidation, the index is now moving up.
This is supported by a very strong RSI.
Volume is low, which means that the real, strong action is yet to come.
On a bearish bias/potential, we would see a test and retest of EMA10 and EMA100 as support, instead, bullish consolidation then up.
We can expect additional growth with the next target being MA200 at 53.53%, followed by EMA300 at 57.99%.
Mirror image from the March/May 2021 drop.
First we go down...
Then we go up!
Namaste.
Bitcoin Pulling Back. And Altcoins depend on this ONE thing.Traders,
Alts are sitting precariously on a level of support right not. Will that support hold or will it fail? Let's look to the charts to find some more clues if we can.
Stew
BTC D Simple Analysis - Altseason StartBasically, bitcoin's dominance was rejected at a historic high, this could perfectly mean the beginning of another altseason, the ideal was from now on for bitcoin to remain at the same levels or rise while its dominance goes down, I fully believe that dominance may reach 40-41% again, and that many altcoins will rise in the coming weeks.
Mini Altseason2023 has started)). Hi dear community and my loyal followers.
Are you waiting for your altcoins to burst and explode?
Do you want to know when mini altseason2023 starts?
Let me update some ideas. As you see BTCD reached to the key weekly resistance zone 48.5-49% and rejected strongly with potential weekly shooting start or bearish pinbar.
At the same time daily BTCD broke down rising wedge with bearish divergence and more likely will retest 44-45K support zone giving room altcoins to explode after long term accumulation phase.
At the same time Total 2 broke weekly descending triangle, retested it successfully, and broke also main diagonal and horizontal resistance.
Weekly candle close above 620 billion is super bullish for altcoins with target 1 and target 2 mentioned on the charts. But Target 2 will be reached only if price clears target 1 and holds it as a support.
If you like my ideas and analyses, don't forget to like and follow. I will appreciate a lot.
🔥 Bitcoin Dominance Falling: Alt-Season Finally Starting?In my most recent analysis on BTC.D I wrote that we were at an important resistance area. We would either blast through the resistance, and continue the Bitcoin-only bullish move, or we'd see a reversal where alts would start to outperform Bitcoin by a large margin.
As seen on the chart, BTC.D has seen a reversal from the top resistance area. This has given alts, especially ETH, more room to grow.
I'm not entirely sure whether we're going all the way back down towards the bottom support, but at least we can get a couple of weeks with better alt returns?
For now, I'm assuming that the decline in Bitcoin dominance is temporary, so let's enjoy the alts while it lasts.
It doesn't go away that easily.First monthly green bar on SQZMOM since oct. 2020.
I'm not looking forward to the alt-season.
There is a transfer of expensive coins into impatient hands.
Don't follow my ideas don't believe me if I disrupt your plans.
Trust yourself at all times.
Be anarcho-individualists, and despise pack.
Do you think I'm wrong?
Do it your own way.
Responsibility for decisions must be respected.
I do, even if I don't agree with you.
BTC Dominance, Get ready for Altcoin party 🥳🎉. BTC.DHello guys, Consider Bitcoin market cap to help identify market movement and the Altcoin season. To altcoin party we need money flow from bitcoin to other coins which we can see this on the chart now. So we have to wait for it to break 47% and complate the reversal pattern, and on the condition that the price of Bitcoin does not fall too much and stuck in trading range.
Good luck.
If its useful please like it as a support and follow me for next analysis :)
.
Salam doostan aziz, chart arzesh bazar bitcoin hast ke be zire moghavemat khod reside. in chart ro baraye tashkhise harkat bazar va alt season dar nazar begirid. baraye altcoin party ma niyaz darim ke pool az bitcoin be coin haaye diger montaghel shavad ke hala in ro daram rooye chart mibinim, pas bayad sabr konim baraye shekaste shodan 47% va kamel shodan olgo bargashti, va hamchenin be sharte inke gheymat bitcoin ham rizeshe ziyaadi nadashte bashad va renj shavad.
moafagh bashid.
like va follow faramoosh nashe :)
Altseason 2023 is going to start in coming days. Be ready. Hi dear community and my lovely followers.
I will be in short. I want you to inform that be ready for Altseason 2023 which is going to start in coming days. It will be wild.
As you see Total 2 on weekly log chart has broken the main diagonal resistance/ weekly falling wedge/ and it is going to break pink zone which is one of the strongest horizontal resistance.
As soon as it will be flipped, All altcoins will explode in a crazy way making x5-x10. Bellow you can see also Total 2 weekly regular chart, where Descending triangle was broken and retested successfully. The only thing we need is "flip the main horizontal resistance and the party will start.
Also pay attention to Weekly RSI which has also broken the main diagonal resistance with retest and it is above 50 level, so huge momentum is coming to altcoins market)))
BTW BTCD hit 48% main resistance which is again sign that it will be rejected because of altcoins hard pump.
Pay attention to updates bellow this analysis I'm going to post other charts as well.
Don't forget to like, comment and follow please. I'll appreciate your support.
Altseason? I think so - Bitcoin Dominance The last time OBV on the monthly hit this resistance line was November 2015, Sept 2019 and Jan 2021. We have OBV resistance and also trendline resistance here.
🔥 Bitcoin Dominance At MASSIVE Resistance: Alt Season Or Dump?🔶 The Bitcoin Dominance (BTC marketcap / total crypto marketcap) has reached its highest value in nearly two years
🔶 Predicted in previous BTC.D analysis:
🔶 Alts been underperforming BTC in 2023
🔶 BTC.D goes down, BTC stable or up = altseason
🔶 BTC.D goes up, BTC up, alts bleed against BTC
🔶 Both BTC and BTC.D are on critical resistances, be careful!
BTC.D 49% tagged precisely! ...and now we dropTraders,
As stated numerous times previously, I have virtually zero expectations that Bitcoin dominance will exceed anything past 49%. Today we tagged that threshold exactly and now I expect a drop. In accordance with the dominance fall-off, I am expecting Bitcoin to retest the neckline of it's Cup and Handle pattern at HKEX:25 ,200. Though, I seem fairly certain regarding Bitcoin's pullback (and I am), I am less certain about what the altcoin space will do. For this reason, I am currently all in stable until alt direction can be more accurately determined. Stay tuned. If I get the right mix of signals, I will be entering quite a few trades to catch any move up. We are currently on a 16 in a row win streak long. I hope to extend this streak soon.
Best,
Stew
Altcoin Trades UpdateTraders,
It's worthwhile to review my most recent altcoin trades, targets, stops, and strategy. I will also review Bitcoin, Bitcoin dominance, Altcoin market cap, and a few of the other alts I am waiting to enter.
Stew
BTC.D at resistance... time for Alts to shine? BTC.D is clearly at the top of this macro range.
USDT.D is also dropping.
This means we may see a mini alt season as alts follow BTC's recent rally.
One counter-argument is ETH Shanghai update - Lots of staked ETH will be (is?) getting unlocked, which could create a lot of sell pressure.
Some very crypto/finance savvy friends are shorting ETH here.
ETH makes up a huge % of TOTAL2 (altcoin market cap), so if ETH does start selling off, this idea will be invalidated, USDT.D will pump instead, and alts will bleed.
Good luck out there...
Happy trades
CD
Btc.d based on machine learning alt-coin season soonBased on Elliott wave and machine learning btc.d will dump soon to 33% and could go more down to 25% this will give us a alt season for coins could see 800%-1000% from here for alt.
BTC.D Weekly resultsWeekly results show no signs of the trend continuing.
At two weeks, there are still 48% in the rejection area.
When the volume is viewed, there are no clear indications,
but it is clear that the 48% area is still quite powerful, and there is a chance that he will move back to the 47% area.
Weekly Cup / Handle Targeting 48-50%Here's an alternative bullish point of view for Bitcoin Dominance - weekly is showing a cup and handle pattern ultimately targeting ~50%.
Here's my previous bearish idea:
