OTHERS.D Potential Bottom forming / Close to happening?
The OTHERS.D chart represents the total market caps of all coins excluding the top 10.
This chart can help you identify the strength of altcoins and the times to scale into altcoins.
In the past, during bull markets, we’ve seen OTHERS.D experience huge rallies, but always prior to this happening, we see "altcoin capitulation," where OTHERS.D corrects hard, causing fear and uncertainty across the board for altcoins. This is the necessary step that has to happen in order for things to "align" before the actual alt season comes — the one when real rotation money flows from Bitcoin into altcoins, something we have yet to see for the vast amount of altcoins across the board due to Bitcoin being very strong.
The chart here is kept as simple as I could keep it, because I tend to think we overcomplicate things.
Per cycle, there are 3 components:
1. Bottom
2. Mid-cycle rally
3. Deep and nasty correction across the board for altcoins
We either put in a double bottom for the OTHERS.D chart or we go on to have a "bear trap" / "spring" event. Both come with major altcoin capitulation across the board. These painful times serve as great opportunities for those who buy the fear and sell the greed.
Invalidation of this idea would be a weekly close below 8.22%.
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.
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.