ALTSEASON ABOUT TO BLOW UP!!?
Bitcoin dominance is once again continuing the fall and the altcoins are going to absolutely love it, even when we see a slight drop in BTC.D the altcoins begin to breakout! We are currently sitting on the 41.57% level and there is a good chance we see a push through here for our daily close, even if we don't close below here today i think the time is coming soon. Looking at the bollinger bands we are pushing onto that bottom band which is a great sign for the altcoins, it seems like we are going to get a daily close directly on that bottom band and this can for sure trigger a big slip to the downside. as far as resistance levels go we have massive amounts of heavy resistance above our heads, we have 3 heavy resistance levels from 42 to 43% and aswell as strong resistance coming from the bollinger bands midline. Now lets look at the SMA's, these levels are also very very strong, we have the 50 day up around the top band on the BB's, the 100 day which is one of the stronger levels is lining up almost perfectly with the midline on the BB's which, this level will take a tremendous amount of momentum to breakthrough. The 200 day is just above the 50 which is another huge level, so overall we are looking very good as far as altseason goes, i personally don't see BTC.D making a strong climb back up anytime soon! The MACD is looking like its ready for another bearish cycle here, looking at the histogram we are once again making bigger red bars day after day increasing bear momentum and we just recently had a bounce off the orange MA, the blue seems to be starting to trail off and falling towards the downside, we want to see more separation in the MA's making it less likely to get a bullish cross. Not financial advice just my opinion!
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