OTHERS trade ideas
possible up-trendi hope its clear on chart
after a 5-wave descend, price has made 2 waves:( 1 or A ) and ( 2 or B )
from this point it need to make ( 3 or C ) wave that can go up to 180 - 260
if we also want to approach this from a classic point of view there is also
a possibility for a bottom head and shoulders with a tp of 260 - 300
i am telling you this to get ready because if there is an uptrend with 100% - 200% gain,
then you should be able to earn way more than that in altcoins
Send the 3rd!!!!This is the correlation between the BTC.D (inverted) with the altcoin market cap chart. It's hard to deny that both only had the 1st wave of their supercycle and are gearing up for the 3rd wave (the tsunami).
My theory is that the altcoin market cap and the BTC.D charts are one impulse wave below the BTC price wave count. So, BTC is having the 1st wave of its supercycle and the BTC.D (inverted) and the Altcoing Market cap are finishing the 2nd correction wave and entering their 3rd wave.
BTC pumping in the 3rd wave of the 5th supercycle wave = Altcoins pumping in the 3rd wave of their supercycle = BTC.D falling (3rd wave)
BTC correcting in the 4th wave of the 5th supercycle wave = Altcoing correcting in the 4th wave of their supercycle = BTC.D rising (4th wave)
BTC pumping in the 5th wave of the 5th supercycle wave = Altcoing pumping in the 5th wave of their supercycle = BTC.D falling (5th wave)
BTC starts correcting from the Bullcycle top = Altcoins still pumping in the 5th wave = BTC.D rising (correcting if looking the inverted)
We are having an altseason soon, and that will surprise a lot of people, I mean a lot!
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OTHERS Crypto Market CapOTHERS chart shows us the Total Crypto Market Cap MINUS the top 10 Crypto and here we can easily See that this is where the majority of the gains have been made , with 87 % gains compared to Bitcoins 53%. As a result, PA is climbing back over the EMA's, which when used correctly, can tell you some important things about Trends.
BUT things to watch ere are, Is PA going to make a higher High or not. and looking at the MACD and RSI and StochRSI, it is touch and go if it can make it higher before it turns over..
This may take anotehr week or so to show us bu tit is something to keep your eyes on
Obviously, a Lower high would show us the downtrend still exists
Others Cap Channel BreakoutOthers Total Cap "All crypto-assets that are below the top 150". It does suggest taht altcoin season is closing in and if that resistance level is popped way more retail money will flow back into crypto. What remains to be seen is if that can happen without BTC confirming a breakout of 25k.
ETH Can Outperform BTCSince the start of September, bitcoin is doing better than other cryptocurrencies, which is not a surprise since we identified end of a five-wave cycle up from June lows. Well, this five-wave cycle is bullish for cryptos; but a trend that may resume after A-B-C down is completed. For now that's not the case yes, but when this ratio will start moving up, that is when crypto bull run can be back. For now, however, there is room for more weakness until we reach wave C projections, at 61.8%.
Ethereum is also still in a corrective phase, with room for more weakness after B rally.
From the price action I see, I assume that ETH can do much better than BTC once the crypto market will turn around. But for cryptos to turn we will also need stocks to stabilize and USD to come down, which will depend on FEDs policy decision.
Hawks should slow down a bit for trend to change.
Trade well,
GH
Update to 1T TargetThe target mentioned in a prior post from May 2020 (see related idea) remains unchanged.
I get it, economy dead, dollar steaming ahead, stocks going to zero, banks bust, war, food shortages... Why would altcoins do well here? I don't have the answers unfortunately. However, looking at this chart in isolation shows potential for one last push higher towards the initial target of 1T.
There are alternatives sure, this is just one option I'll be looking out for and confidence increases with the break of 165B, a higher high on the lower timeframe.
The two corrections (2, 4) fit quite well, wave 2 being a sharp, deep expanded flat and wave 4 a zig-zag retracing 38% of the third.
Note: this doesn't have to be correct, and there is potential for a lot of downside. This idea shouldn't be considered as a good reason to buy altcoins. Risk is high.
Good luck out there!
OTHERS.DDISCLAIMER:
This is not financial advice! This is an opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing.
everyone should buy and sell according to their own strategy.
Everything you need to know is outlined in the chart and keep in mind that we are moving forward with probabilities and the analysis may be wrong so take capital management seriously.
OTHERSDISCLAIMER:
This is not financial advice! This is an opinion-based show. I am not a financial adviser. Please only invest what you can afford to lose, and we encourage you to do your own research before investing.
everyone should buy and sell according to their own strategy.
Everything you need to know is outlined in the chart and keep in mind that we are moving forward with probabilities and the analysis may be wrong so take capital management seriously.
Altcoins Growing 2-5x (200-500%)The Altcoins index (OTHERS) is coming out of low and getting ready to grow... Altcoins season?
We see a 100% rise incoming within the next 6-8 weeks.
This fact can push the altcoins 2-5x higher...
We are talking about the Altcoins vs Bitcoin (ALTSBTC) and Altcoins vs Tether (ALTSUSDT) trading pairs.
It will be a nice wave.
Think back to March 2022.
Namaste.