Alt Market Cap Not Looking HealthyAlt Market Cap Not Looking Healthy
The Alt Market cap has recently broken down on market structure and retested key resistance and 200EMA 1hr. Core issue is the consolidation directly below key resistance at 356 which is looking like a dump could be incoming to me to the next supprot level at 342. It could be a little rocky for alts in the short term.
Altcap
🤖 #SENTIMENT- 30.08 🤖TLDR
In essence everything is pointing towards short term bear movement for the next 2-4 days and then potentially bull rally
USDT DOMINANCE
Hitting key resistance, overbought a bearish divergence and descending trendline. Equally a break out here would be huge but it is looking quite bearish which means money flow into BTC and Alts
ALT CAP EXCL. BTC & ETH
Playing out the last of a Head and shoulders pattern with the possible bottom in the next few days then could result in a big rally from there driving Alts up
BTC
Finishing off the last of a descending wedge over the next few days then possibel breakout on the cards
BTC DOMINANCE
We will likely see a bounce at the bottom of this channel now as a result of BTC pumping - this may leave Alts a little stagnant but they will follow.
🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3🤖 #BTCLIVE - 15.08 - #IDEA 🤖 - Part 3
Hmmmmm....things are looking pretty bearish
Alt Market Cap
Currently in a bearish rising wedge, RSI is over stretched now and almost overbought and any further rise 75 and above will confirm a bearish divergence. Expecting a crash from here for Alts - money will flow out of alts and into primarily USDT and BETH* I feel the low caps are really going to feel the pain here. Additionally we are hitting the long term top of the descending channel as well as about to get smacked by the 200DEMA.
USDT Dominance
No surprise USDT Dominance is looking primed to breakout, there is a small chance capital can flow primarily into BTC although highly unlikely. Expecting USDT Dominance to pump. Currently in a long long term falling wedge - as money has been slowly buying positions in alts and BETH. We are additionally finding perfect support on the 200DEMA to bounce.
BTC Dominance
This is holding range well and at the lower end, expecting a large bounce here potentially to about 48% - given the other scenarios this makes perfect sense as capital will likely flow out of all crypto to USDT but out of BTC at a slower rate boosting the dominance quite fast.
BTC Price
Long term bullish but short term looking pretty bearish with the rising wedge, long term trendline resistance, 50DEMA resistance and the other scenarios painting a pretty bearish case.
*My new short-hand for BTC & ETH, don't sue me
ALT CRYPTO CAP: double top at 1TNALTCAP UPDATE // I expect most alt coins to dump as we havent managed to break through the 1TN resistance level twice; forming a double top. This means alt coins can lose as much as approximately 90BN of market cap all together. Of course this will be spread over all alts and I expect some smaller coins to profit from it but overall we can expect red days for alt coins; if not a full red week. This is not suprising; given the parabola's on almost any alt coin out there... The market needs a correction to accumilate and bounce back up and lets hope that happens soon. So lets keep an eye on this chart and see where will get a bounce; next support is around 908BN; if we fall below that; we could see more dump. Because of this I expect the BTC dominance to bounce back up as BTC will not lose 90BN in marketcap and thus will lose less than most alts; therefore BTC dominance will regain strength. The coming weeks are interesting for this bull run; Im not saying this is the end, I think we can break 1TN but its a major psychological level that isnt broken that easy...
I was considering keeping this chart private but you know; I care about you guys! Alt season doesnt stay here forever! Dont get rekt and dont be greedy! Blessings to you all! Make money from the suits instead of them taking money from you... <3
IMPORTANT: this is not financial advice, trade or invest at your own risk and research.
You are making this more complicated than it needs to be (ALTS)Altcoins will see a huge bullish breakout from consolidation range.
I expect us to reach 118B and if we break above that level its moon time from here!
If 38B fails as support things would get bloody for longer.
simple TA simple plan.
Straight forward and profitable.
Stay profitable.
- Dalin