Potential bullish break of trendline -Total crypto cap excl. BTC
The narratives been shifting from a bitcoin bias to a lot more talk and hype of altcoins lately. I think there's more expectation that they could outpace bitcoin leading up to, and post halvening, until bitcoin begins it's next real parabolic rise.
So far we've been seeing many alts keep up with or outpace bitcoin and also many bullish indicators, some like litecoin eth and neo forming cup and handles and others like icx wan aion making parabolic rises up out of there accumulation zones where i believe smart money has been buying up a reasonable proportion of their supply and many others look to be on the verge of breakout too, including large cap alts like ada eth ltc all closing above their major moving averages on the daily against usd and btc.
So for now I am bullish on the crypto market as a whole as btc has formed golden cross between 50 and 100ma and 21week has crossed above the 200 and has been forming higher highs and lower lows so far this year, but overall I'm more bullish on alt coins with good fundamentals over btc for the time being as long as this trend continues.
A close above this trend line on the weekly would confirm this theory more and a close above the 21week which it is still below currently (white line), sitting around the 100 (yellow) at present.
I'm a novice trader and this is the first chart I've posted. I appreciate any feedback or criticism.
So far we've been seeing many alts keep up with or outpace bitcoin and also many bullish indicators, some like litecoin eth and neo forming cup and handles and others like icx wan aion making parabolic rises up out of there accumulation zones where i believe smart money has been buying up a reasonable proportion of their supply and many others look to be on the verge of breakout too, including large cap alts like ada eth ltc all closing above their major moving averages on the daily against usd and btc.
So for now I am bullish on the crypto market as a whole as btc has formed golden cross between 50 and 100ma and 21week has crossed above the 200 and has been forming higher highs and lower lows so far this year, but overall I'm more bullish on alt coins with good fundamentals over btc for the time being as long as this trend continues.
A close above this trend line on the weekly would confirm this theory more and a close above the 21week which it is still below currently (white line), sitting around the 100 (yellow) at present.
I'm a novice trader and this is the first chart I've posted. I appreciate any feedback or criticism.