Hi,
The OTHERS/BTC pair represents the collective market capitalization of altcoins relative to Bitcoin. This ratio is a critical indicator of altcoin strength or weakness against Bitcoin. The weekly chart reveals a prolonged bearish phase for altcoins, with Bitcoin dominance persisting. However, recent data suggests potential inflection points worth monitoring.
Key Technical Elements:
- Ascending Channel: The pair is moving within a well-defined macro upward channel. It is currently sitting at the bottom boundary, suggesting a potential reversal point.
- Support Zone: The lower boundary of the channel (purple line) aligns with previous bounce points (2019, 2020, mid-2023), reinforcing its validity.
- RSI Indicator: The RSI has shown bullish divergence with price making lower lows while RSI forms higher lows.
My Opinion:
This chart suggests we are near the bottom for altcoins vs BTC, and the risk/reward is heavily tilted in favor of a bounce, especially going into a potential Q3-Q4 altseason. It’s a classic accumulation zone where smart money tends to position.
And what to do?
- scale into altcoin positions cautiously.
- Use the channel low as a stop-loss zone.
- Look for confirmation over the next 1–2 weeks with bullish candles or increased volume.
Happy Trading,
The OTHERS/BTC pair represents the collective market capitalization of altcoins relative to Bitcoin. This ratio is a critical indicator of altcoin strength or weakness against Bitcoin. The weekly chart reveals a prolonged bearish phase for altcoins, with Bitcoin dominance persisting. However, recent data suggests potential inflection points worth monitoring.
Key Technical Elements:
- Ascending Channel: The pair is moving within a well-defined macro upward channel. It is currently sitting at the bottom boundary, suggesting a potential reversal point.
- Support Zone: The lower boundary of the channel (purple line) aligns with previous bounce points (2019, 2020, mid-2023), reinforcing its validity.
- RSI Indicator: The RSI has shown bullish divergence with price making lower lows while RSI forms higher lows.
My Opinion:
This chart suggests we are near the bottom for altcoins vs BTC, and the risk/reward is heavily tilted in favor of a bounce, especially going into a potential Q3-Q4 altseason. It’s a classic accumulation zone where smart money tends to position.
And what to do?
- scale into altcoin positions cautiously.
- Use the channel low as a stop-loss zone.
- Look for confirmation over the next 1–2 weeks with bullish candles or increased volume.
Happy Trading,
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.