TRIAS price prediction 0.7-0.8 june 22nd to mid july
right now trias is making a series of lower highs and lower lows, this makes the general bias a downtrend,
you may ask for how long and how I came to the figures 0.7-0.8.
First, 0.7-0.8 came for simple TA and a combination of what is going on with bitcoin, this is a range we must hit or get close to in order to solidify a bottom.
IMPORTANT:
Secondly, right now bitcoin is looking to set in it's bottom. once bitcoin finds a bottom people will start to buy in and btc.d will rise (more money goes into BTC compared to alts), during this time alts will begin to truly crash as money comes out of them, this could be a few weeks or months depending on the coin, alts will find their bottoms after bitcoin and then once their bottoms are in and dust starts to settle, btc.d will begin to lower again but this time and uptrend.
For these reasons I believe TRIAS will start to drop hard even after bitcoin finds a bottom, which looks likely within the month or start of July. I also believe TRIAS will bottom 0.8 or just below, I believe this will happen mid-late July, reasons provided above regarding btc.d.
Thank you for taking the time to read, leave any comments and I will be happy to respond and even have friendly discussion.
EDIT: SEE LINKED RELATED POST WHICH EXPLAINS BITCOIN DOMINANCE SPECIFICALLY, THAT WILL HELP UNDERSTAND WHY TRIAS WILL BOTTOM AFTER AND HARDER THAN BITCOIN
you may ask for how long and how I came to the figures 0.7-0.8.
First, 0.7-0.8 came for simple TA and a combination of what is going on with bitcoin, this is a range we must hit or get close to in order to solidify a bottom.
IMPORTANT:
Secondly, right now bitcoin is looking to set in it's bottom. once bitcoin finds a bottom people will start to buy in and btc.d will rise (more money goes into BTC compared to alts), during this time alts will begin to truly crash as money comes out of them, this could be a few weeks or months depending on the coin, alts will find their bottoms after bitcoin and then once their bottoms are in and dust starts to settle, btc.d will begin to lower again but this time and uptrend.
For these reasons I believe TRIAS will start to drop hard even after bitcoin finds a bottom, which looks likely within the month or start of July. I also believe TRIAS will bottom 0.8 or just below, I believe this will happen mid-late July, reasons provided above regarding btc.d.
Thank you for taking the time to read, leave any comments and I will be happy to respond and even have friendly discussion.
EDIT: SEE LINKED RELATED POST WHICH EXPLAINS BITCOIN DOMINANCE SPECIFICALLY, THAT WILL HELP UNDERSTAND WHY TRIAS WILL BOTTOM AFTER AND HARDER THAN BITCOIN
Related publications
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.