In an ascending triangle, consolidating on top the 4H 200ema, RSI above 50%.
We are about to find out. Break out of falling wedge was bullish but 0.033 could have been the final target. Break up of the triangle and alts will do fine, down and alts will dump or stagnate.
consolidating under the 4h 200ema in an ascending triangle, it is somewhat bullish. A break upward is bad for alts.
Doing the same thing as in May. This is a fickle index to measure alts season with. I prefer 1/ETHBTC and ALTSPREP, or just seeing a lot of alts pumping simultaneously.
!/ETHBTC is very similar to BTC.d in regards to gauging alts strength relative to BTC. If it goes up ALTs will do bad.
This is a very capricious index that jumps around wildly, very hard to predict. Might spike like in May.
this is the inverse for better visualization. Breakout of falling wedge with retest, the btc pair will fall 30%. The inverse of ethbtc can be used as a replacement for btc.d, alts are going to suffer.
Which of course is bad news for Alts. And the monthly MACd will cross up if BTC.d will continue up. Previously I believed that the wedge resistance will reject BTC.d but obviously this didn't happen but Alts did not suffer. At the moment the Alts look fine because they strangely have become positively correlated to BTC.d and are going up with it. This happens...
Alts season might have started. Same W double top formation as in May. Confirmation is a break below %64.62, and dominance will go back to %57.46.
Rejection at this level will spell relief for Alts otherwise the next resistance is that of the falling wedge and Alts will bleed further. It is expected that BTC.d will respect the wedge and reverse course. But nothing is for certain. There are gaps in the index and if gaps play out in the index then BTC.d must rise to 74% to fill the gap. However these gaps can...
Looking at inverse of BTC.d (subtracting from 100% BTC market dominance), a rising widening wedge is observe on the weekly and the index nearing support of the wedge and a key horizontal support. A bounce at the wedge support will lead to a new Alts season. However if the wedge breaks down then Alts will drop significantly leaving mostly BTC dominant. Practically...
#BTC $BTC #XBT $XBT #DOM $DOM #BEAR #BEARISH Once again, we have a coincidence of timing in the price charts. It seems that we are really about to enter a really BIG BEARISH phase when : - BTC is likely to drop to 6000$ in Jan-01 2020 - BTC Dominance is also analyzed to peak 77% on Jan-01 2020 My analysis will be broken if BTC rises above 12500$ and BTC Dominance...
Becoming more and more likely now that the daily closed the way that it did. Completely out of nowhere but at least now we can be sure to short ALTBTC pairs and rides the BTC bus until possibly December. Its gonna suck for Alt bulls. We need to wait and see how the weekly closes for a confirmation but for me this is evidence enough of conviction towards 80%. Good...
At the bottom in an upcoming channel. Strong signal when touching the lower channel today. Very nice candlestick today in my point of view :)
BTC Dominance can make correction here, and it's time for Altcoins but this is just a small wave. So don't be greedy in this turn BTC Dom can rise up to 61% in next months