BTC Dominance, End of ALT Season?
BTC Dominance, End of ALT Season?
What interests the crypto nation more than the Bitcoin chart is the start, end, and cycles of the ALT season. A -10% drop in Bitcoin closed the first ALT-coin season out of the expected three. That is, two cycles still have a good chance.
Everyone knows the cycle:
USD ---> BTC ---> ALT ---> USD ---> BTC ---> ALT…. It is also a loop as the value migrates between crypts.
In my usual way, it will be a strictly technical analysis.
Analysis:
The analysis is done on a monthly basis and therefore has a very strong meaning.
We are expected to traverse the movement of the 2017 cycle again, only at other levels.
In 2017, the dominance of Bitcoin fell along the rain line marked in red. This fall consisted of 5 waves, indicated by the descending arrow marked in blue. There were 3 parts in this corpse when the dominance of Bitcoin decreased. I marked these parts with the black arrows. This is when we can talk about the ALT season. At that time, money migrated from Bitcoin to the ALTs. There were 2 parts when Bitcoin’s dominance rose, then money flowed out of ALTs. In my opinion, yesterday ended the first ALTcoin season with a -10% drop in Bitcoin. Apparently everything was already heavily pumped. DOGE is the best example of this.
In my opinion, the dominance of Bitcoin will increase slightly again by about: approaching the level a month ago. Here is a fairly strong resistance from which the second ALT season cycle is expected to begin.
What else is worth noting:
The candles in the 2017 cycle were much larger than those in the current 2021 cycle. This is because dominance is currently moving in an even denser zone of resistance. As soon as this is broken down, we can expect to see more intense ALT movements.
The 2017 decline in Bitcoin dominance lasted 10-11 months, with a good chance it will happen again.
SRSI:
The similarity compared to 2017 is clearly visible here in the sections marked in pink.
Conclusion:
So if we repeat 2017, we still have 2 ALT seasons ahead. It is worth preparing for this and taking advantage of its potential!
If you liked the analysis, click on a liking and subscribe to be informed about future analyzes and updates.
Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translate
Peace
The-Line
What interests the crypto nation more than the Bitcoin chart is the start, end, and cycles of the ALT season. A -10% drop in Bitcoin closed the first ALT-coin season out of the expected three. That is, two cycles still have a good chance.
Everyone knows the cycle:
USD ---> BTC ---> ALT ---> USD ---> BTC ---> ALT…. It is also a loop as the value migrates between crypts.
In my usual way, it will be a strictly technical analysis.
Analysis:
The analysis is done on a monthly basis and therefore has a very strong meaning.
We are expected to traverse the movement of the 2017 cycle again, only at other levels.
In 2017, the dominance of Bitcoin fell along the rain line marked in red. This fall consisted of 5 waves, indicated by the descending arrow marked in blue. There were 3 parts in this corpse when the dominance of Bitcoin decreased. I marked these parts with the black arrows. This is when we can talk about the ALT season. At that time, money migrated from Bitcoin to the ALTs. There were 2 parts when Bitcoin’s dominance rose, then money flowed out of ALTs. In my opinion, yesterday ended the first ALTcoin season with a -10% drop in Bitcoin. Apparently everything was already heavily pumped. DOGE is the best example of this.
In my opinion, the dominance of Bitcoin will increase slightly again by about: approaching the level a month ago. Here is a fairly strong resistance from which the second ALT season cycle is expected to begin.
What else is worth noting:
The candles in the 2017 cycle were much larger than those in the current 2021 cycle. This is because dominance is currently moving in an even denser zone of resistance. As soon as this is broken down, we can expect to see more intense ALT movements.
The 2017 decline in Bitcoin dominance lasted 10-11 months, with a good chance it will happen again.
SRSI:
The similarity compared to 2017 is clearly visible here in the sections marked in pink.
Conclusion:
So if we repeat 2017, we still have 2 ALT seasons ahead. It is worth preparing for this and taking advantage of its potential!
If you liked the analysis, click on a liking and subscribe to be informed about future analyzes and updates.
Non-financial advice. Trading in cryptocurrencies is risky and can result in losses.
Translated with Google Translate
Peace
The-Line
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.