It's almost certain that either we are going to follow green arrows. I am expecting that green support zone will bounce heavily to the upside. We will break that support zone probably next time.
This is the same chart from February called "XRP will die at the end of January 2021", I added some more details. The last pump which i believe was an exit pump, did a fakeout over longterm support and was rejected by the orange longterm diagonal support. The fakeout and rejection is extremely bearish and resulted in a zone of trapped buyers ( a lot of whom post...
Got supported with bullish divergences. More green candles with correlation flips means market trend will be bearish and ALTS will drop more than BTC.
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The latest pump and dump put the last nail in the coffin. XRP.d has been twice rejected from major resistances which result in severe drops. Loss of 1.50 will send it to zero. Actually these major resistances are part of a gann fan that i drew in April 2020 (original idea below). You can see the gann fan if you zoom out.
Pretty hard to put your finger on dominance, But I am assuming that the rising wedge will break down. This will end the random pumping of some alts for a while. If the wedge breaks up then Alts will continue to pump, but some of them have 2xed or 3xed and are pretty over extended so hard for me to see a continued pump. I imagine a strong dump from BTC will bring...
Broke back into the descending widening wedge, pushed down by ETH new ATH. Sitting on the last diagonal and horizontal supports. This might be the start of a new ALTs season.
Never saw a more bearish chart and this is the monthly. Here goes: -Dom rejected from descending triangle resistance. -Dom fell under long-term rising trendline -Dom monthly closed way below major longterm horizontal support. -Mega bearish engulfing monthly candle, almost 70% larger than the bullish candle. -MACD has been in the red forever. How is bullish?
in theory should test resistance of wedge and breakup, but PA has fallen below support and RSI broke below the trendline. Currently at support of wedge and rising channel. A break below will send dom to retest the descending widening cone at 66.88. A break inside the cone is the start of Alts season, unless market dumps.
Alt season is way close than you expect I would chose one of the best ones like LINK, ETH, BNB, GRT !!!
And probably for the last time for a while. Small drop of BTC.d to support, to form a bullish div and bounce. This small drop would give these handful of Alts time to pump more.
No altzseazon. Maybe Doomsoon season. Double bottom , MACD crossing up, Bullish divergence on the RSI . Twist on the Ichi cloud for easy passage.
Similar to July 2019, a dip close to the 4H 200 ema . Target of the widening wedge break out has not been reached at 75%. For Alts season to be confirmed, BTC .d should break below the circled trendlines or below 67%.
100-BTC.d represents Alts dominance, and if 28.9% key level is broke, alts dominance will fall dramatically, hopefully only to 20% but can reach 10%. The majority of BTC pairs have fallen while BTC has risen. This implies that capital is being taken out of Alts and pumped into BTC. Some alts have faired very well vs. USD, like ETH, Theta, dot and unusually LTC....
Still in the downward channel with daily bearish divergence at the channel resistance with rejection. Can go to the bottom of the channel. Even if it breaks out of the channel, 1.37 is a very strong resistance because it was historical support now flipped resistance. XRP incredibly, crossed over it's historical support, but it was a fakeout as everybody knows.
On the log scale a parabola is a straight line, and Link.d was in a rising wedge . The parabola was lost on November 29th when dom dropped out of the rising wedge . The first target for now is the POC at around 0.33%, followed by the rising wedge target at 0.1%. There was hope that link will surpass major caps, it remains to be seen if in next year, capital will...