Season
BTC bottom and Alt season defined by FibsIn this study, I will look at the ratios on BTC.D to define the bottom of BTC, and the start of Alt Season.
As BTC.D is showing signs of upside, exactly like it did after the 2017 top, indicating weakness for altcoins after this year's parabolic boom. Many alts went 30-100x, and it seems like it's time for them to consolidate.
This bear market seems to be rather exceptional, breaking S2F (temporarily?) because of general market weakness.
If Fib ratios would be held I will be looking at the 0.382 and the 0.618 levels for 1) the BTC low and 2) the start of alt season.
$CPRI: Continues to stun the marketWith another massive earnings beat, the market continues to find value in this name that was getting beaten up long before COVID. Should be interesting to see if CPRI can continue to impress into holiday season and beyond.
Q2 2021 Highlights
Revenue increased 178%, with better than anticipated results across all three luxury houses
Adjusted gross margin expanded 90 basis points versus prior year
Adjusted operating margin of 20.8%
Adjusted earnings per share of $1.42
Raised full year adjusted earnings per share outlook to $4.50
We're a little early to the end gameOBV & RSI peaked at the blow off tops of 2017 and 2013 alike. Not here in 2021... RSI is cooling off, BTC has been chilling, and we got some time to kill.
Below is 2019s bull trap. Look at how similar the data is. That's because we're early. 2019 was early. May 2021 is still early. We've got nothing but time until the end game. For now, it's alt season.
here is 2017s blow off top // notice how every datapoint peaks at roughly the same spot
2013s blow off top
2013s 'little too early' blow off top
Litentry is undervalued, to the moonOne good project for me with good potencial. One time when this breakout is going to be crazy in price discovery.
GRT/BTC ready for a parabolic run.As we can see GRT is almost ready for a big run towards the top here, targets are hard to pinpoint but based on the Fibs we should see a nice rise out of it, used the prev run as an indication. It is tightly consolidating now into and near the top trend line, it has already done 2 fakeouts and the 3rd one should be pushing it upwards.
Trade at your own risk, this is not financial advice, just speculation.
SiaCoin breaking out of major channel and resistance.Looks like Siacoin is ready here to go into a parabolic run for its own. its been grinding the bottom of the channel for quite some time now, and typically this ends up resulting in big parabolic runs upwards, after all the BTC.D keeps dropping and it is already Alt Season, most coins will have a run at some point or another if not all coins. Looks like a potentially good entry early on for Spot, cheap coins can give big gains all in all.
PS this is not financial advice, I am only speculating, and having fun with the charts. Trader and invest AT YOUR OWN RISK > DYOR.
Bitcoin dominance is in danger?CRYPTOCAP:BTC.D
Many people are still talking about upcoming alt-season, however I believe alt-season is here for three month! Many coins made ATH even to BTC pairs.
Looking at weekly chart makes me think that we are actually getting close the end of the party. I specified previous alt-seasons in the blue blocks, together with RSI state in yellow blocks.
As you can see we still have room on weekly RSI to deep, dominance also broke down the uptrend and went under EMAs.
Despite this situation I would be careful with alts. Most likely we see another step up for BTC and keep in mind that as soon as it happens, alts will crash and dominance will sky rocket.
Of course overall we got a chance for super cycle and continuation of the alt-season with the slow growth of BTC, but I would not count on that.
Let me know what you think in the comments. Good luck!
Alt Coin Market Cap ChartIs anyone else watching this, if Bitcoin dominance continues to decline while alts take more market share , then we're entering a new altcoin phase imo.
For instance, the alt coin dominance may be in the process of S/R flipping a huge resistance. Blue sky break out? Moon targets?
BTC Bitcoin Dominance Failing. Head and Shoulders Pattern Now OnGreetings Traders,
I have patiently been waiting for this pattern to play out. It has now been confirmed.
THE REAL ALTCOIN SEASON HAD BEGUN!
One word of warning though, don't be greedy. I do believe that this altcoin season will be quick, maybe less than 2 weeks? I expect most coins to pump and 2x their price from current levels. So, after your coin of choice has pumped, be quick to take your profits. Don't hold on this pump unless you are a HODLer and not a trader.
Best of luck traders!
Mantra Dao (OM) Cup and Handle SetupOM shows a long term bullish setup. We have a cup and handle pattern, as well as a retrace currently that extends down to the 61.8% line. The bounce off of this line is bullish by itself, but once the lid is broken, we should see some steep gains up to $1.80 - $2.20
Target for this pattern is technically lower, as previous lip is lower, however because we are in bullish season and about to see the peak of altcoin season, I have adjusted the target from $1.20 to $2.20
The current Fibonacci trade we have would take us to around $1.40, $2.20 and $3.60 - I believe we will at least hit $2.20
BTC.D H&S pattern Is it only me that see the H&S pattern in BTC dominance (weekly chart) ?
Of course NOT , but we are sitting in the neckline which has been very strong support for a long time (almost 940 days) , if we see a breakout from downside (breakdown) it would be amazing for ALTs and probably a strong ALT SEASON
What you think about Bitcoin dominance and my analysis ?
Let me know your thoughts on comment section