Alt season coming in upcoming days 🧨
Updated
I can smell Alt season is coming.. So pack your bags, I hope we're going to have interesting months coming in..
Let's look at these two charts together..
First BTC/USDT 2 Hour chart and second Bitcoin Dominance on 4 Hour chart.
In BTC/USDT chart we can see a double bottom classic pattern that is activated that made the price go top. After this bullish movement the price will need some retracement move downwards to the lower support area as I marked in the chart as as "Box Number 1". If the use Fibonacci extension in both higher and lower level of this area, the first Fibonacci level will be around in "Box Number 2", as you can see in the chart.. This is some kind of resistance area, that can make the BTC price move downwards. I'm sure we all can agree on this that it's a green light for Alt Coins.. There will trouble for Alts if BTC price breaks this resistance level and set a new all time high it can move to higher levels around 71,000$.
But Let's forget about this scenario and focus on which the resistance area that may reject the price and check out the BTC Dominance chart..
If you can see my previous ideas, I marked a support area at 60.8% for BTC Dominance. I put a green and yellow area as a strong resistance for dominance in it's retracement movement. The Dominance is bouncing well between these two lines. But let's checkout the trend line that can make a triangle pattern with the resistance line that I explained above. Triangle will need minimum 60% percent of it's time length to let the price break it's higher or lower levels most of the times (This is not an exact fact, it's some sort of practical experience). So if we calculate the 60% of the triangle time-line, It will be around 274 candles in 4 Hour chart as you can see above. So in the time of BTC retracement to the top BTC.D will feel this gap to the 274 candles and we will reach to the last week of March.. It is more likely for BTC price and BTC.D to reject their both resistance areas at the same time, They will go down so quickly as I drew the green arrows for you..
These correlations shouldn't be by chance, Let's see how it will work..
This is just my idea, It shouldn't be picked as an financial suggestion my friends..
I like to see your charts and ideas in comment section, so we can talk more about this interesting part of our investments. I'm sure sharing our ideas together will make all of us to take more profit from this market..
And as always feel free to ask any question about my idea, I'm willing to give help as much as I can to the TradingView community..
Let's look at these two charts together..
First BTC/USDT 2 Hour chart and second Bitcoin Dominance on 4 Hour chart.
In BTC/USDT chart we can see a double bottom classic pattern that is activated that made the price go top. After this bullish movement the price will need some retracement move downwards to the lower support area as I marked in the chart as as "Box Number 1". If the use Fibonacci extension in both higher and lower level of this area, the first Fibonacci level will be around in "Box Number 2", as you can see in the chart.. This is some kind of resistance area, that can make the BTC price move downwards. I'm sure we all can agree on this that it's a green light for Alt Coins.. There will trouble for Alts if BTC price breaks this resistance level and set a new all time high it can move to higher levels around 71,000$.
But Let's forget about this scenario and focus on which the resistance area that may reject the price and check out the BTC Dominance chart..
If you can see my previous ideas, I marked a support area at 60.8% for BTC Dominance. I put a green and yellow area as a strong resistance for dominance in it's retracement movement. The Dominance is bouncing well between these two lines. But let's checkout the trend line that can make a triangle pattern with the resistance line that I explained above. Triangle will need minimum 60% percent of it's time length to let the price break it's higher or lower levels most of the times (This is not an exact fact, it's some sort of practical experience). So if we calculate the 60% of the triangle time-line, It will be around 274 candles in 4 Hour chart as you can see above. So in the time of BTC retracement to the top BTC.D will feel this gap to the 274 candles and we will reach to the last week of March.. It is more likely for BTC price and BTC.D to reject their both resistance areas at the same time, They will go down so quickly as I drew the green arrows for you..
These correlations shouldn't be by chance, Let's see how it will work..
This is just my idea, It shouldn't be picked as an financial suggestion my friends..
I like to see your charts and ideas in comment section, so we can talk more about this interesting part of our investments. I'm sure sharing our ideas together will make all of us to take more profit from this market..
And as always feel free to ask any question about my idea, I'm willing to give help as much as I can to the TradingView community..
Note
I checked the TOTAL 2 chart, Surprisingly after breaking a flag the TOTAL 2 is moving to higher positions marked in chart, in the exact time as we spoke on BTC.D and BTC/USDT.. All these signs are heading us a head to ALT SEASON.Trade active
Every Think looks on the track about Bitcoin movements... fasten your seatbelts folks.. I hope my theory is right..Note
Second day, BTC still on the track..Trade active
This is 4H chart I'll soon analyze a higher timeframe folks.. It is important for Total 2 to save the support line..Trade active
I think my analysis is still activated on ALT Season is near..Everything look bearish on BTC.D, If BTC move to ranging zone after hitting 50,000, I looks like we should fasten our seatbelts.
Let's check out BTC.D on daily time-frame:
Note
BTC.D closed a strong red candle on 4H timeframe.. It's not enough but let's stay alert.. We are in my predicted time zones for Alt Season..Trade active
When I looked at BTC.D 12H chart.. there was a strong red candle that engulfed it's five previous candles and was closed a little bit below our support line..So let's watch BTC/USDT, BTC.D, Total2, Total and ETH/BTC very closely..
Trade active
Every think looks ready for the beginning of the great ALT SEASON, just by five days delay as I predicted in this post..Dominance is going below 60%, TOTAL2 broke it's previous ATH and, now it's going to new All Time Hight targets:
Trade closed: target reached
As I told you ALT SEASON is started on APRIL!!!Let's enjoy and take profit together, folk..
Stay tuned for my further trading ideas...
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