ALT
AUDIO UPDATE - Short term downside, Re entry IdeasAll the info is written on the chart.
Still long term bullish, but I still expect some more short term downside based on the chart.
The green dash lines are possible re-entry levels, but they're subject to change with market conditions. Scale in and consider using stop loss orders to conserve capital in case of more downside.
happy trades,
CD
GRT/BTC ready for a parabolic run.As we can see GRT is almost ready for a big run towards the top here, targets are hard to pinpoint but based on the Fibs we should see a nice rise out of it, used the prev run as an indication. It is tightly consolidating now into and near the top trend line, it has already done 2 fakeouts and the 3rd one should be pushing it upwards.
Trade at your own risk, this is not financial advice, just speculation.
SiaCoin breaking out of major channel and resistance.Looks like Siacoin is ready here to go into a parabolic run for its own. its been grinding the bottom of the channel for quite some time now, and typically this ends up resulting in big parabolic runs upwards, after all the BTC.D keeps dropping and it is already Alt Season, most coins will have a run at some point or another if not all coins. Looks like a potentially good entry early on for Spot, cheap coins can give big gains all in all.
PS this is not financial advice, I am only speculating, and having fun with the charts. Trader and invest AT YOUR OWN RISK > DYOR.
AUDIO UPDATE: NFT NEWS PUMP!After a massive 3000% run up over the past few months, AUDIO entered a steady retrace as most altcoin PA stagnated due to BTC volatility.
However, 4 days ago the Audius team announced planned NFT integration, covered by coindesk here:
www.coindesk.com
Anything NFT related is getting a lot of attention / bullish investment, so this news drop was a well-timed attempt to stop the bleeding.
Unfortunately I think this news largely went under the radar as BTC stole everyone's focus the last few days.
Perhaps now people are hearing about it because sure enough, despite bearish short term technicals, today the price pumped, breaking out with volume.
The question is - is this news enough to reverse the short term downtrend? Or is this a case of "buy the rumor, sell the news?"
Short term technicals have shifted bullish on this pump. Stoch & MACD are oversold & angling upward on 12HR and 1D TFs, and the volume does add validity to the breakout. These indicators still look pretty bearish on 3D and Weekly though. So I'm kinda on the fence.
It would be more compelling to see a third bounce around the 200MA / recent support. I would consider that an aggressive entry point at this time, but who knows. If enough people fomo into this pump, we could see another run up sooner than expected.
happy trades,
CD
Alt Coin Macro Total Market Cap Monthly Analysis Alt Coin Macro Total Marketcap Analysis
This is a simple macro chart of the 1 Month Alt Coin Total Market Cap excluding BTC.
In reference to the previous Kraken Wick BTC Dominance chart I did ( ) , I found it interesting that the month of February 2021 with the Kraken Wick is the same monthly candle that broke the previous Alt Coin Total MC ATH. Since then BTC has been losing dominance to Alts.
Another thing I am keeping track of over the next months is the monthly RSI. We have not yet hit the previous ATH RSI resistance line. In my opinion there is still a good probability that the Alt coin total market cap has room for growth.
Another thing to take note of is the previous bearish divergence at points August 2017 and December 2017 created with the Price Action and RSI. I am keeping an eye on a possible scenario of a new bearish divergence forming over the next months as a way of helping detect Topped out conditions.
Bitcoin dominance is in danger?CRYPTOCAP:BTC.D
Many people are still talking about upcoming alt-season, however I believe alt-season is here for three month! Many coins made ATH even to BTC pairs.
Looking at weekly chart makes me think that we are actually getting close the end of the party. I specified previous alt-seasons in the blue blocks, together with RSI state in yellow blocks.
As you can see we still have room on weekly RSI to deep, dominance also broke down the uptrend and went under EMAs.
Despite this situation I would be careful with alts. Most likely we see another step up for BTC and keep in mind that as soon as it happens, alts will crash and dominance will sky rocket.
Of course overall we got a chance for super cycle and continuation of the alt-season with the slow growth of BTC, but I would not count on that.
Let me know what you think in the comments. Good luck!
Alt Coin Market Cap ChartIs anyone else watching this, if Bitcoin dominance continues to decline while alts take more market share , then we're entering a new altcoin phase imo.
For instance, the alt coin dominance may be in the process of S/R flipping a huge resistance. Blue sky break out? Moon targets?
AUDIO RE-ENTRY IDEA - SHORT TERM DOWNSIDEIdeas are clearly stated on chart. After that 1300% pump, I think it's safe to expect a bit more downside short term. Still long term bullish.
happy trades,
CD
QTUM 3D BULLISH RETEST CONFIRMEDQTUM just bounced off previous resistance, confirming this macro reversal still has legs.
Look for reentry at fib levels or previous support.
happy trades,
CD
ethusdt my opinionethusdt my opinion is it will go to yellow boxes from here or it will come down to blue box the go to blue box targets after we shall see what happens but whatever scenario that happens we will have a great trade
DOT update
Price has consolidated above all time high, and is trending with 21Ema.
We can expect to test fib extensions levels ONLY if price keep steady trend above $40.60
Critical support zone at : $40.80
ALTCOIN DOMINANCE BREAKOUTBitcoin has been the dominating force over the last few years. We have finally achieved an Altcoin Dominance breakout.
This breakout looks convincing. We are witnessing a change in tide. Altcoins are about to go parabolic.
The next stop for altcoin dominance is around 47.48%
Enjoy the ride !
HEAD AND SHOULDERS COMPLETE (ALT SEASON)It appears that we are about to get a big alt season.
How are you feeling?
Not financial advice,
Chris
AVAX (Alt Season)There is little doubt amongst the community that Alt season is on the horizon, AVAX is a great up-and-coming coin with great fundamentals. Ultimately it does not matter which coin you choose to buy(with bitcoin being the safest option and the lower caps offering the most rewards) The plan is to stay in the game until the 80th min, with enough skin in the game to reap the rewards of the "Alt Season".
