When is the pimp season of altcoins? Dominance BTC.
After the which worked upwards on the domination graph, we see an ascending , which worked as it should be at the height of the flagpole. And someone claims that does not work ... It works, only not everyone understands it.
Then when will the altos pamp season come? And everything is very logical and simple - then when the upward trend of Bitcoin domination breaks down. Automatically money will be pumped to cheap altcoins.
Perhaps now, as well as before the pumping of the Altcoins in 2017, the belief that altcoins can be revived is finally killed.
But as for me, many altcoins that I trade feel great. You just need to be able to look for tools and work with them. You need to understand that all this crypto menagerie is created only for speculation and making real money. Well, and who believes in the "technology" of the next scam who will "save the world" is doomed to poverty ....
In the fall of 2017, mainly Bitcoin grew, some Altcoins grew with it, but these were rare cases. Bitcoin showed an increase from July from $ 1,800 to $ 20,000 in December. 5 months 11x (1100%). Pumping of altcoins was almost 3 times shorter, but much profitable with the right approach naturally.
Who traded earned, who bought the "promising" and kept - washed with blood.
But as soon as Bitcoin stopped the price increase. Altcoin pumping went. Pumped all the coins in a row without discrimination. The cheaper the coin was, the more it showed an increase in price. The most profitable were the cheap satosh coins "without technology", they usually showed an increase of 10 x and above. An example of scam verge, trx , emc2 and others. While in the "top tech scamy" with a large capitalization, growth has shown from 3x and very rarely when more than 5x. So what is important is not the "technology" of the next scam that will save the world, but the price and capitalization that can be inflated.
Similarly, BTC is growing now and altcoins are falling in price. A break of the uptrend downwards will mark the beginning of the pamp season of the altcoins. The fact that it is possible that the BTC capitalization will still be dragged up, I doubt very much how this will mean the death of most altcoins. But what the hell is not joking).
You must understand that everything is done against the expectations of the crowd. The crowd is waiting for the Altcoin season - it means it will not. The crowd will stop waiting for the growth of the altcoins - the season starts unexpectedly.
Bitcoin dominance chart by market capitalization. You probably noticed that over the past month, many violas went to growth by a large percentage. This can be seen in my trading ideas for some altcoins. Maybe it's not casual?
At the moment, we see that the dominance of bitcoin over other assets is still in an uptrend. % BTC dominance came very close to the uptrend line.
At the top of the uptrend, the "Head and Shoulders" figure has formed. Breaking the Neck line will mean a 9.3% decrease in dominance. And this is already below the line of the upward trend of BTC dominance. Perhaps we will see a change in the trend of bitcoin dominance in the market.
Breaking the uptrend line will mean that we will confirm the final formation of such a complex, long-forming and rare formation on the market as the “Inverted Dragon”. Which in turn can consist of many small figures.
Confirmation of this figur provides an understanding of the direction of the trend in price movement in the long term. At the moment, we already see all the components of this formation formed: the head of a dragon, the first paw of a dragon, the hump of a dragon, the second paw of a dragon. Everything is there, except for the “Dragon Tail”, which in turn is the target the figure.
But you need to remember that only a breakthrough of the uptrend line (Dragon Range) gives confirmation of the figure.
This will mark the beginning of a full-fledged pump season of long-suffering altcoins. Consequently, a new hype, the arrival of new people and new "stupid money" to the market.
If we break the uptrend line and the percentage of Bitcoin dominance is fixed under it, this will mean the opening of a full pump of the altcoin season!
But we must not forget that if the uptrend is not breaking through and the dominance of bitcoin will increase, this will mean the death of most altcoins, except TOP.
But I am more inclined to believe that the uptrend line will break and the long-awaited season of pumping altcoins will begin.