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Altcoins to outperform Bitcoin in the next rally. Pretty simple chart here. The altcoin marketcap has seen a nice rally upwards with Bitcoin through the second quarter of 2019, however couldn’t really outperform Bitcoin (aside from BNB and LINK). This is identical to the first stages of the last bullcycle. Through the mid part of 2015 the altcoin market cap also had a first push upwards, basically through Bitcoin making its first parabolic move. After that a retest and HL formation was confirmed, which basically started the first altcoin ‘season’ upwards (hand in hand with the confirmation of the 21 Weekly EMA on Bitcoin). The current 21 Weekly EMA is at $9,200 area, which is the support of the descending triangle. Getting that as support would be confirmation for the bullish market for the coming years (and as we all know, Bitcoin is very bullish macro perspective). So, Holding this 64-66 billion as support and we’re upwards targeting the 125 billion and possibly 250 billion area. Also nice to see that this area was the support back in 2018 already. Breaking below and we’re looking for a potential support area of 40 billion again.
CRYPTOCAP:TOTAL2Long
by CryptoMichNL
4
BTCUSD what's the next turning point?I've missed the breakout cause some vacation time, but I'm not dissapointed, preparing for the next position with my Hedging Account and it must be some short position. The bullish momentums at bottomse was very pretty measurable with Murrey's Math & Oscillator divergences on higher timeframes in the last months. With the length of the upward channels was calculated with fib 0.78 - 0.68 range. Will looking for some divergence to making lot of money with that. I've wrote an article here : How to making LOT of MONEY - Hunting Divergences I'm preparing myself to find a good SHORT ~11.1k-11.3k. Targets are very mixed because I think: we are still inside a descending triangle, wich is bearish - until some invalidation. So my first profit target will be 9.5k obviously, but still using some portion of this short to hedging against my LONG, which planned to open at bottom. But be careful , because many people out there believes: this is the last time to buy below 12k.... are they right? Who knows. On that bullish case I'm looking for weekly close above 11.5k, about the resistances I've wrote an idea about resistances/supports earlier : BTC will show you: SIR, WHEN MOON? wich is still valid as you see. If you liked this idea, follow me on Twitter as @MrAnonymCrypto too. SIGNUP MY FREE NEWSLETTER HERE This is not financial advise, I'm just a guy from the internet, do your own research before do anything crazy out there. What about this, sir? www.tradingview.com
BITMEX:BTCUSD.PShort
by TanukiTrade
Continuation on Bitcoin or first some retracement -> altseason?New weekly write-up on the perspectives regarding Bitcoin. Let's first start off with a small summary of what happened in the past week. Bias was pretty much bearish when we were hanging around at $4,200, which you can see in the past posts I've made. I was short on that position, however when we dropped down on the rising wedge and kept the channel in place, the bias switched to neutral (checked last post) and the shorts were closed. Went long on some alt pairs as these were looking beautiful. Bitcoin ended up with a massive breakout upwards. Great for the market, great for the sentiment and great for the vibe in the community, obviously quite happy with that. We did break two downtrends, which in general is key for me to think of bearmarkets coming to an 'end'. Will this mean that the bearmarket has ended? Most likely it is, however a retest of the lows is still likely for a 'spring' or range low test. Does it mean that you have to FOMO buy at $5,000? Nah. You don't have to. There's always a second chance in trading and when you didn't want to buy Bitcoin at $3,100 anticipating a further crash, it's adviced to review your own strategy, as we've seen some beautiful bulldivs there showing a push upwards already. If you started shorting in that area, that's also an advice to review your own strategy. So, what is the game right now? I'm short term quite neutral on the market. I'm pretty confident we'll see the upper old support as a test in the coming month to see whether we can confirm that as resistance. In the previous bearmarket and in general on bearmarkets it's common that previous supports are tested as resistance. So, in that light I'm expecting a continuation upwards to the $5,800-6,200 area. However, currently I'm quite neutral back again. The gameplan is quite easy. Scenario 1 - Retrace towards the $4,700 (200MA on Daily timeframe) or $4,400-4,200 area, which would be quite healthy for the market and also gives space to the alts to start rallying again. Normal to be seen after such a big impulsive move is to see the market calming down, volatility going away, volume going away -> Great for alts. In general (broader market perspective) I'm thinking that alts are ahead of Bitcoin and might not see new lows again, some of them. What is the gameplan in this scenario? Definitely not shorting in this zone, quite foolish. I'm looking for a bullish continuation pattern ending at the $4,700 or $4,400 level for a long entry. I'd prefer to see a short term retrace towards $4,700 and continuation towards $5,700-6,200 afterwards instead of $4,200 already. I'd like to see $4,200 to become the new support after $6,200 for continuation, but that's me. Scenario 2 - We range here and will move upwards to $5,800. I'm not expecting that $5,800 is the level we'll be bouncing of at this point. It's a one time touch from before, the main old support is around $6,200 and expecting that we'll be trapping in to that range to squeeze some limit buys before reversing. Breaking the '$5,800' would be critical for retail traders to step in. Will we clearly make a candle close above this range, a re-entry is obviously a long entry, but at this point I'm not expecting it. So, if we range upwards from here, I'm looking for shorts in the upper zone. Overall, I'm expecting calmth on the majors at this point and not particularly expecting to see movements upwards. Probably later in the month. This will generally end up with alts to be pushing up quite hard. Some of them look beautiful -> WAN, NEBL, HOT and more. Thanks for reading, will be back next week!
BITSTAMP:BTCUSD
by CryptoMichNL
3
Break out to come XRPXRP is as usual at it's famous trend line. I will make this short as the scenario is pretty repetitive. You may be seeing, some strong manipulation around this zone to wipe out the stop losses. I'm stupid so I don't have any, all I have are buy orders :/ I don't recommend doing like me tho... Risk management is the most important thing in this game. Over all, we should be seeing some targets being met, 0.32 with in the next 12 hours and maybe after that 0.33/0.34, depending on the momentum. If we sustain levels under the trend line, we might see a big downside movemnt so do be aware.
BITFINEX:XRPUSD
by Yokoj