The final year of bitcoin halving year is usually a bullish year for the Altcoins. 
TOTAL2 is the measure of the Total Market Crypto Market CAP without $BTC. Today we are looking into a ratio chart of TOTAL2 vs BTC Market cap. The supposed strength in Altcoin is missing as is evident from the 
BTC.D chart and the ration chart between TOTAL2 vs BTC.
If we plot the Fib Retracement levels on theBTC.D from the last cycle lows to the highs, we see that in the current halving cycle the BTC.D is progressing towards 0.786 Fib retracement levels which is currently indicating a BTC.D of 66.2 %. The ratio of Toatal2 vs BTC Market cap fits surprisingly within the Fib levels and makes new lows every week in this weekly chart. The levels to watch on the ratio chart will be 0.43
What does this trend tell us. It might be possible that the Altcoins USD pairs are bullish, but the Altcoins are making new lows vs BTC. So, it's a better strategy to go long $BTC. The risk reward is very much in favour ofBTC rather than Altcoins.
Verdict: LongBTC, BTC.D to 66%.
TOTAL2 is the measure of the Total Market Crypto Market CAP without $BTC. Today we are looking into a ratio chart of TOTAL2 vs BTC Market cap. The supposed strength in Altcoin is missing as is evident from the BTC.D chart and the ration chart between TOTAL2 vs BTC.If we plot the Fib Retracement levels on the
BTC.D from the last cycle lows to the highs, we see that in the current halving cycle the BTC.D is progressing towards 0.786 Fib retracement levels which is currently indicating a BTC.D of 66.2 %. The ratio of Toatal2 vs BTC Market cap fits surprisingly within the Fib levels and makes new lows every week in this weekly chart. The levels to watch on the ratio chart will be 0.43What does this trend tell us. It might be possible that the Altcoins USD pairs are bullish, but the Altcoins are making new lows vs BTC. So, it's a better strategy to go long $BTC. The risk reward is very much in favour of
BTC rather than Altcoins.Verdict: Long
BTC, BTC.D to 66%.
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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.