BTC.D / ALTCOIN CAP
Top chart BTC.D
Currently sitting on top or long term support, but is in theory the last wave retracemtn of wave 5 with with Elliott wave theory in play.
We should see it break support and start to watch it play FIB levels.
If it breaks, than we can claim the bull season for alt coins has begun.
But untill that happens, this is still a bear market.
Bottom Chart TOTAL2
We see it currently looking for that bullish pressure to break above.
Total cap has had only 1 major impulse run and 1 corrective phase
Keep in mind that the last decade btc has had 3 major impulses and 2 major corrections.
The correction from 20k is the 6th wave
If Elliott wave theory is correct, btc should correct a lot and start to spread to alts.
This could be the alt coins major run.
Best of luck
Enjoy
Currently sitting on top or long term support, but is in theory the last wave retracemtn of wave 5 with with Elliott wave theory in play.
We should see it break support and start to watch it play FIB levels.
If it breaks, than we can claim the bull season for alt coins has begun.
But untill that happens, this is still a bear market.
Bottom Chart TOTAL2
We see it currently looking for that bullish pressure to break above.
Total cap has had only 1 major impulse run and 1 corrective phase
Keep in mind that the last decade btc has had 3 major impulses and 2 major corrections.
The correction from 20k is the 6th wave
If Elliott wave theory is correct, btc should correct a lot and start to spread to alts.
This could be the alt coins major run.
Best of luck
Enjoy
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.