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Altcoindominance

(BTC.D) Altcoin Dominance Eyeing Up A Breakout to 40%With altcoin dominance closing back above the rising 200 Week MA last week, confirming Bitcoin's long-term weakness in market dominance, "ALT.D" (1-BTC.D+99) has again held the 30% support a second time and is looking for a breakout above 33.75% with a target to 40%. This would additionally be a TD Sequential trade on the Weekly chart with a Green 2 going above a Green 1, with oscillators (RSI, CMF and MACD) pointing to further upside. There will likely be some resistance and profit taking around the 50 Week MA around 35%, half way to the target, but I don't expect it to hold for long if volume continues to rise. The momentum would likely be too strong preceeding the confirmed trend change. Reward/risk: 2.1 Entry: 33.76% - TD buy signal and and new swing high since July 2019 Target: 40.7% - Previous support level as resistance and 100 Week MA confluence Stop Loss: 30.50% - Breakdown below the open of the 1 candle, 21 Week MA and into support range = bearish To me, this is a perfect trade. Previous altcoin dominance TA: Altcoin Speculation Coming Soon... (October 2019) Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
CRYPTOCAP:BTC.DLong
by dragononcrypto
Altcoin Speculation Coming Soon...Smaller cap altcoin dominance is leaving the RSI oversold conditions (of less than 30) this week and is currently reading 31.73. This comes after nearly three months of being oversold after dominance fell below the 200 Week MA. The last time "Other altcoins" dominance spent this long in oversold conditions was at the end of 2015, for two months, before rising from less than a 1% to it's ATH above 15%. Altcoin speculation is coming... Bullish arguments: RSI leaving oversold conditions MACD bullish crossover CMF bullish divergence Rising volume, 2x from Jan 18
CRYPTOCAP:OTHERS.DLong
by dragononcrypto
1
Altcoin Dominance Bouncing From 0.382 Fib Retracement Bouncing from 0.382 fib retracement, altcoin dominance has broken above the 200 Week MA (29.65%), RSI now left oversold conditions and MACD about to bull cross. "ALT.D" (1-BTC.D+99) needs to close the weekly above the 200 MA to remain bullish, but otherwise the risk/reward is there for a trade to the 0.5 fib retracement (49.95%) and resistance level. This would be a trade on the monthly scale on the left with the price bouncing back from the 20 MA to the 50 Month MA. Related altcoin dominance/market analysis... Altcoin Dominance Retesting 200 Week MA. Bounce to 40% Incoming? Altcoins Bouncing From 200 Week MA after TD Sequential 9
CRYPTOCAP:BTC.DLong
by dragononcrypto
Altcoin Dominance Retesting 200 Week MA. Bounce to 40% Incoming?Is this the start of another alt season? Altcoin dominance needs to close above the 200 Week MA at 30.65%. Despite the downward trend of the 20, 50 and 100, the 200 remains in a bullish posture trending upwards. Is Bitcoin going to sell off and profits go towards altcoins finally? MACD is looking to bull cross soon, the RSI is leaving oversold territory after three months of being oversold, monthly RSI has been finding support at 40. The altcoin market has otherwise found support from the 200 Week MA in recent weeks :-)
CRYPTOCAP:BTC.DLong
by dragononcrypto