BTC.D # 004 (RIVERSAL TIME ZONE , ALTCOIN PARTY )Hello dear traders.
Good day .
First of all thanks for your comment and support.
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As you can see bitcoin dominance on weekly Gann Square reach to the reversal time zone and stops at Gann Square Fan line.
We expected to decline and support in next Gann Arc resistance.
Altcoin season will be higher growth than last seasons.
Btcdominance
Bitcoin Dominance UpdateBTC.D was rejected from the channel's trend line and consolidated above the 55% zone (blue). It then broke down and found support at the 54% zone (green).
If BTC.D falls below this 54% support, it could drop to the 53% zone (yellow), which would be positive for altcoins, as a lower BTC dominance usually benefits them.
However, if BTC.D bounced back from the 54% zone back to the 55% zone, it would be very bad for altcoins, as previously BTC.D bounced many times from this zone. Increase in dominance causing further declines in the altcoin market.
BTC.D - KEY LEVELS FOR THE NEXT ALT SEASON (MAY 2024)BTC.D - KEY LEVELS FOR THE NEXT ALT SEASON (MAY 2024)
When can we expect the next Alt season? It's been a long time since the last one. For a potential Alt season to occur, we need to break through the critical 54% level. If that doesn't happen, then the 58% level has the potential to trigger this scenario.
2025 Altseason and how we enter Afternoon folks.
Hope you’re having a great day, i wanted to share my opinion about the next big Altseason, showing it with some waves . At first I think we’re gonna have a pullback to 50% so the altcoins can breathe a bit . Then we start the first phase of bitcoin gaining and the bull run till we get close enough to 64% , small correction starts there to point 3 and after we start a stronger bitcoin run to the cycle top which lead the dominance to upper 70% . Altseason starts there by dominance bleeding and sharp falling.
In other scenario we can go to 60% straight from here in gaining prices of course but mostly for bitcoin and falling from there to point 3 would be the fast correction.
Stay safe and see you at the top .
Golden Cross Re-test - Brief / Strong AltseasonAlternative idea for Bitcoin Dominance.
Small rising wedge breakdown on the weekly that began forming at the start of a Golden Cross of the weekly 20/100 and 50/200 MAs (and EMAs, not pictured)
Often after golden crosses, before the real bull run there is a strong re-test.
A re-test of the 100 and 200 weekly MA over the next month or so would target the exact same TP 2 as the rising wedge breakdown, around 49%.
49% also sits at the wick high of weekly support.
I see the possibility of a sharp drop down to ~49%, and if that level holds, a sharp rise up.
This could mean altseason is right around the corner, but could also mean it gets cut short around end of July or in the fall.
For a a different outlook considering a longer altseason and a sharper drop in dominance, see this other related idea:
For a short-term bearish then bullish outlook on Bitcoin Dominacne, see here:
August till January 2020 altcoins -80%My opinion is that Bitcoin will reach newer heights, when that happened in 2020 most altcoins did -80%, just look at FTM or DIA for example. I only hope that moment is not now. I feel uneasy about the constant bullish weekly divergences, at least monthly RSI hints maybe we could have a small alt season soon. But it will be mostly to give late longers and stuck people (who holding at loss for months) to sell at breakeven.
Rising Wedge Breakdown Near Resistance3-daily chart for BTC.D
Targets:
Possible drop to support support initially.
Then TP 1 around 47
TP 2 ~43-44%.
Prereqs:
Remain below the wedge and lose 54% and then the 200 day EMA/MA just under it.
Some confluence:
My hand-drawn rising wedge on the log chart above has a measured TP 2 that lines up almost perfectly with the linear chart's "Rising Wedge" auto-pattern indicator.
Daily line chart view:
#ALTSEASON is knocking the door! Are you prepared??#BTC Dominance: The Moment We've Been Waiting For.
The true alt season begins when ALT/BTC pairs start displaying strength, and I believe we're already seeing signs in several altcoins. I'll be sharing more details soon.
The liquidity exiting the market is poised to flow into solid altcoins.
You have to be patient, No FOMO!
Follow me if you don't yet, and hit the like button if you find my insights helpful.
When I start entering the altcoins, you'll be first to know! Be patient.
Stay strong folks.
#Crypto
Do hit the like button if you like it and share your views In the comment section.
THANK YOU
#PEACE
BTC dominance is about to be rejected from the cycle topBTC Price Perspective:
As of now, the dominance of Bitcoin (BTC) in the crypto market is quite close to the cycle top at 56%. Based on previous trends and current market observations, I am anticipating this to reach around the 57-58% mark before experiencing a rejection, much like the last two cycles we've seen.
In the first cycle, BTC dominance was at its peak around 96%. Following this, it experienced a significant crash to 35% in 2017. Interestingly, it was during this period that BTC hit its all-time high price for that specific cycle.
In the subsequent cycle, a similar pattern was observed. The peak dominance for BTC was around 73%, and this was followed by a sharp fall back to 38% in 2021. This was the period when BTC reached a new all-time high.
ALT Coin Perspective:
Given these patterns and the cyclical nature of the crypto market, we expect to see a similar trend in this current cycle as well. We predict that BTC dominance will touch around 58%, before crashing back to the 40% range in 2025.
Furthermore, based on these projections and market analysis, we anticipate that BTC will hit a new all-time high in 2025. This is indeed positive news for altcoins. Historical data shows that whenever BTC dominance takes a hit, the alt season comes into play.
Therefore, with the 2025 bull run's alt season yet to start, we believe this presents a favorable opportunity to invest in altcoins.
Invest in ALTs now and HODL
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Cheers,
GreenCrypto
BTC/Bitcoin - 62K Before 72K ? Ascending Triangle PatternIt seems that BTC is forming an ascending triangle pattern. The price is currently moving towards the support zone, around 62K. If this support remains intact, we can anticipate the next target for the price to be in the 71K to 72K zone.
Considering the expected bull market after the recent bitcoin halving, it's highly probable that the support will hold, causing the price to rebound from the support zone.
If the support from the ascending triangle breaks, we could see the bitcoin price drop to the 60K zone.
We'll see how this develops. Stay tuned for more updates.
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Best,
GreenCrypto
Update on BTC DominanceBTC dominance is currently around its resistance line on 4H timeframe and it recently bounced back from the support level.
if btc breaks this resistance level we can expect the btc price to pump and ALTs to bleed.
im expecting the dominance to get rejected from the resistance level and hit the support again.
Lets wait and see
BTC DOMINANCE WEEKLY SHIFT.. a SIGN of upcoming Crypto PUMPS?!I've been tracking btcdominance' weekly data and it looks like a major shift is starting to transpire.
Shorters seems to have found their peaks -- and altcoin bulls may take over anytime now.
Double top has been created -- and a strong order block resistance is being met with rejection.
Expect reversal to the downside from here on for BTCDOM (expect altcoins/overall crypto market to dominate the upside region again)
spotted at 1594 (target: extended downtrend)
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On crypto market, a coin dominance is a ratio of its market cap to cumulative market cap of cryptocurrencies. It's a great way to see how big a coin is relative to the whole crypto market — the value of everything is in comparison. It's calculated by dividing a coin market cap by the overall market cap of the top 125 coins and then multiplying it by 100.
It's only when Bitcoin's dominance increases while Bitcoin's price is stable or when Bitcoin's dominance decreases, and its price also decreases that the prices of altcoins remain rather stable. When Bitcoin's dominance increases, altcoins usually lose market share and therefore value vis-à-vis Bitcoin.
Bitcoin Dominance Technical AnalysisCurrently, Bitcoin Dominance (BTC.D) retesting the channel trend line after a breakdown from it and bounced back from the support zone (Green) at 53.69% - 54.39%. BTC.D was moving in an ascending channel from august 2022 till May 2024.
Due to the upward movement of BTC.D after making support from green zone to ascending channel trend line the alt market is heavily bleeding. That is why we always say every time you take a trade use stop loss because this market is very volatile.
If Bitcoin Dominance rejects from the channel and breaks down from the green zone we will see massive gains in the price of alt’s market and if it do inverse and did not break the zone in green moves upwards and breaks into the channel that will be a bad dream for the alt’s.
According to our analysis, we could see BTC.D pull back from here and we will see it moving towards the next levels and massive pumps in alt coins price.
Overall, we understand that BTC.D is currently in a bullish momentum. It is retesting the channel trend line and has rebounded upward from the support zone, indicating a bullish sign. However, if it breaks down from the support zone, it could shift to a bearish momentum.
Bull Flag | Falling Wedge FormingMight be a drop here down towards the 200 day EMA/MA and the bottom of this bull flag or falling wedge on the daily.
This could provide some reliefs to #alts vs. BTC while Bitcoin corrects down to 60-63k area
Short-term short until 53-54% area, then long again, may range within the wedge for a while, too.
TOTAL 3 - Can do +30% move versus #BTC pre halving #ALT runThis chart Total 3 minus the 3 biggest stablecoins
OVER the price of #Bitcoin
If this number is going up so are your #altcoins
We have a clear double bottom forming
just a matter of clearing the neckline to confirm.
Also interesting to note how the 0.786 Fibonacci was front-run by eager investors looking for Risk assets.
A disappointing #Altcoin season? Maybe! OTHERS.d/BTC.dMaking gains in #Crypto has gotten harder and harder with each passing cycle for the vast majority of participants.
That is an unquestionable truth that I see and hear from people.
#Bitcoin itself is in it's 4th Hype cycle... which is bearish
2013 Mt Gox ponzi cycle top/collapse
2017 Eth/ICO craze, CME futures. CNBC XRP shill top.
2021 Uniswap/DEFI innovation , Elon doge /Coinbase IPO top.
2024/5 Memecoins craze --- topping signals are already appearing Andrew Tate / Iggy Azalea at NYSE. A Trump Election Win could be the final nail in the coffin whilst ppl celebrate the news and January 2025 Inauguration may seal crypto's fate.
The left translated 4 year cycle is a definite possibility as made popular by #BobLoukas
We know that retail investors are rejecting High valued VC backed projects and rather take high risk gambles on #Memecoins for a chance to be early... this is not bullish behaviour obviously!
As only a tiny percentage of people can win at that game and often it is not YOU!
Once that speculative capital & energy is rinsed many people will be left holding a worthless bag of tokens.
#Leverage trading destroys many people's lives
And a digital store of value whilst has obviously it's merits is unlikely to flip #Gold in marketcap imho
It cannot compete with a 5000 year history of storing wealth for generation to generation.
I can bury Gold coins in my garden and dig them up in 50 years knowing full well that they will have value.
Would you do that with a trezor? Lol.
So what do we do ... try to take advantage of the next 6 months and rotate S coin profits into
#Stablecoins and maybe a small allocation to #PAXG #XAUT (buyer beware on those gold backed #RWA coins obviously)
This should buy you enough time, to let you assess the fallout of any top that may occur this Christmas/new year.
Remember many people and especially the Bitcoin community will be partying and celebrating the 15 year journey of a $100k plus BTC.
You must avoid being sucked into that hype and cash in a good chunk of your crypto portfolio IMO
This is just a scenario I give to you ... and not a prediction ofc.
We are trying to predict the future irrational behaviour of humans, an almost impossible task. But as the wall St cheat sheet demonstrates speculative bubbles, generally do repeat often enough for us to try and capture profits from them.
So we watch and wait, place our bets and see where the chips may fall, one foot in and one foot out is my general kind of viewpoint of how most people should be thinking at this stage of the cycle.
It might be end of the bullish trend in 4h chart.If daily price closes in the orange channel and continues to range around the roof in the mentioned channel, it might be a good opportunity for a short position. I'm still long, BUT am waiting for some more confirmations in the solbtc and btc.D charts.
Bitcoin dominance consolidation?The dominance dump that led to the last alt coin rally, based on reviewing the monthly chart, shows a bearish engulfing candle (red box) before breaking down out of a multi year trend. This time we are seeing a recent bullish engulfing candle (green box) and what seems like a possible bearish fake out based on the bullish trend support line over the past 2 years.
What do we think is next, fellow plebs? Bitcoin dominance multi year breakout this cycle? Or what every alt coiner has been calling for over a year now …is it finally time for “alt season”???