BTC dominance (Y20.P5.E4).MACRO. Downward pressure coming
Updated
Hi All,
Its time to review this again and ascertain when ALT season is coming again.
Why?
Because we have a likely chance that BTC will consolidate soon between 17K to 18K level. If it pullbacks deeper towards 15k to 16K then I will have to reassess based on the structure and level it hits as it will delay the ALT season.
However as of now, things are lining up well to backup my thesis about BTC and the Alts, hence why I bought the ALTs in this dip (some defi, ETH and ADA), no BTC, as I have a 1/3 of my BTC now, after selling it off at 19K range so was cashed up to buy the ALTs. So far the strategy is working for me.
As per my recent BTC fractal post suggest, the BTC train will slow down for a while, in the coming weeks and will then give the ALTs their turn in line with my ETH or LINK BTC pairing post.
If I'm wrong, I have the 1/3 BTC to offset any short comings.
As for this chart, we potentially have a BEAR flag with a reversal comin soon.
The 2 day indicator shows upward pressure however after that, its downwards.
This aligns well with my thoughts on BTC price action where I see it going towards potentially 17150 to 17250 range.
If this level doesn't hold then obviously going to be a deeper pullback.
All the best, please give me a like or tick for supporting me.
Regards,
S.SAri
weekly shows downward pressure
BTC fractal post
LINK.BTC post
ETH.BTC post weekly, ref.z.chart
Its time to review this again and ascertain when ALT season is coming again.
Why?
Because we have a likely chance that BTC will consolidate soon between 17K to 18K level. If it pullbacks deeper towards 15k to 16K then I will have to reassess based on the structure and level it hits as it will delay the ALT season.
However as of now, things are lining up well to backup my thesis about BTC and the Alts, hence why I bought the ALTs in this dip (some defi, ETH and ADA), no BTC, as I have a 1/3 of my BTC now, after selling it off at 19K range so was cashed up to buy the ALTs. So far the strategy is working for me.
As per my recent BTC fractal post suggest, the BTC train will slow down for a while, in the coming weeks and will then give the ALTs their turn in line with my ETH or LINK BTC pairing post.
If I'm wrong, I have the 1/3 BTC to offset any short comings.
As for this chart, we potentially have a BEAR flag with a reversal comin soon.
The 2 day indicator shows upward pressure however after that, its downwards.
This aligns well with my thoughts on BTC price action where I see it going towards potentially 17150 to 17250 range.
If this level doesn't hold then obviously going to be a deeper pullback.
All the best, please give me a like or tick for supporting me.
Regards,
S.SAri
weekly shows downward pressure
BTC fractal post
LINK.BTC post
ETH.BTC post weekly, ref.z.chart
Note
2 daily upward pressure, however 3 daily and more, sideward, no clarity.
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Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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