Altcoinsvsbtc
BTC.DHas 0 chill, but daily TF looks way overbought, if BTC.D dumps here while BTC is holding $19k LOL OMFG everything will explode. 35% BTC.D will be an altseason dwarfing 2017 and BTC will pump to $27k. Lets seem bois.
ZRXlooking good IMO if W is actually correct then plus .90c incoming. Chances of .30c r still valid as well but then that would be a double bottom and still a W pattern as well IMO.
At KEY support level can we bounce off it?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission.
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Potential massive altcoin pump nearBTC.D has been pretty much following the exact same formation as in 2017 with 3 red followed by 2 green and a red candle just before a major loss in dominance.
The formation looks pretty much the same just on a smaller scale. There's a potential for a major altcoin rally next month with BTC.D dropping a lot should this pattern repeat itself.
Also it looks like an head & shoulder has been formed with both shoulders in place already.
BTC.D pattern analysis (Rising & Descending broadening wedges)Hello everyone,
Today I´ve prepared for you Bitcoin dominance (BTC.D) analysis based on patterns.
The 1st one is:
BEARISH rising wedge
The rising wedge can be one of the most difficult chart patterns to accurately recognize and trade. While it is a consolidation formation, the loss of upside momentum on each successive high gives the pattern its bearish bias.
However, the series of higher highs and higher lows keeps the trend inherently bullish.
The final break of support indicates that the forces of supply have finally won out and lower prices are likely.
There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the left top corner.
The 2nd one is:
BULLISH descending broadening wedge after a peak
A descending broadening wedge is bullish chart pattern (said to be a reversal pattern). It is usually formed by two diverging bullish lines.
There are no 100% measuring techniques to estimate the decline – other aspects of technical analysis should be employed to forecast price targets but I tried to draw it for you for easier recognition in the right bottom corner.
The price objective is given by plotting the wedge’s maximum height onto the breaking point
A descending broadening wedge is confirmed/valid if it has good oscillation between the two upward lines . The upper line is the resistance line; the lower line is the support line.
Each of these lines must have been touched at least twice to validate the pattern.
NB: a line is said to be "valid" if the price line touches the support or resistance at least 3 times.
This implies that the descending broadening wedge pattern is considered valid if the price touches the support line at least 3 times and the resistance line twice (or the support line at least twice and the resistance line 3 times).
Statistics of the descending broadening wedge after a peak
- In 79% of cases, the exit is bullish.
- In 23% of cases, a descending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the resistance line is broken.
- In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line.
I personally think that we had in previous days Bitcoin dominance fake out which seems to be turning into alt ralief/btc catch up run till the end of December/ January which could drag BTC.D down to approx. 53% again.
Rest is showin in the chart.
I previously called the top of it and expected the approx. path here
This is where we are now at So I´ve decided to make a update with new prediction call and that bringed us to current TA
Hope you like this technical analysis and I wouldn´t mind if you please leave a like & comment to me as a feedback is very importan for me.
Thanks !
ChaChain
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Disclaimer:
I´m not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature, and therefore I´m unqualified to give investment recommendations. Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
KEYWORDS
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XRPNo reason for moon bois with lambs yet guys. simple chart orange line is BTC we can see that XRP will play catch up with BTC at about .51c
BTC.D Every time the SRSI becomes overbought on weekly BTCD retraces down to major support. 1st example was 22 bars 2nd was 18 bars & for the 3rd I followed suit with 14 bars. Also I added 1.5% extra to follow the trend on the dominance drop.
Alts going to get an exit pump in the next 2 weeks IMO. Trade safe guys watch out for TV bullies talking shit don't be afraid to post your ideas guys. Hopes this helps. Im long BCH ZEC XRP will close after this pull back in dom.
Risky profit 20% during BTC consolidationBased on my experience, all altcoins can only be traded in BTC pair. Because BTC is growing.
Currently, BTC looks good and will show us consolidation during the next few days/weeks. Maybe month. Nobody knows. We know only one thing that even BTC going to 12400 is just a consolidation. And of course, you can try to trade BTC on the small movement, but usually, this gives you either low-profit percentages or even liquidation.
But if you still want to enter a risky deal, then at the moment it is better to use altcoins.
This is not the best deal, but altcoins usually show gains when bitcoin consolidates.
So try to enter low as possible in the zone: 0.0000068 - 0.0000062
You can use limit orders.
Take a profit: 0.00000770 and 0.0000090
Stop the loss If any 1D or 1W candle close below 0.0000061
Please note that altcoins are very dangerous. They will be safer when Bitcoin reaches its all-time high. Enter only 5-7% of your capital.
Why is BTC dominance important and how it affects altcoins?*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky.
*Follow me for the latest cryptocurrency analyses on my watchlist
*Thank you to those who donated, I very much appreciate it.
*Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
Bitcoin maximalists wont like itNearly three years after the last peak we have now enough data to see what altcoins are doing in comparison to Bitcoin.
All coins are moving in the same direction and will perform well. some start moving a little bit earlier and stronger some start moving later, but they all very similar moves in the big picture.
Bitcoin performed better in bearmarkets.
Also Altcoins performed better in the last bullmarket.
Peak in Oktober 2021??
