#BTC dominance #BTCD is showing strength, #altcoins ' pain upCRYPTOCAP:BTC #bitcoin dominance is forming W bounce for moving upwards. Money will flow from #altcoin s to #bitcoin . Isn't it clear?
NOT FINANCIAL ADVICE.
Altdominance
Repeating Patterns May Lead to a New ATH for Alt DominanceAlt dominance formed something that looks a lot like an HSi with a very small right shoulder, which broke above its neckline and successfully re-tested, confirming the pattern and targeting 16.6%.
See the white drawn pattern and its white dashed neckline on the chart.
The same area of breakout and re-test from the smaller white pattern is forming another similar small right shoulder on a larger HSi as drawn in blue, with its neckline as the blue dashed line.
Should the blue pattern be a repeat of the smaller white one, and breakout of its neckline as well (note that it should as long as the white pattern continues up towards its initial target), it will target 21.8% upon confirmation and any successful re-tests of its neckline.
More related ideas for BTC.D and OTHERS.D in the Related Ideas section below.
This would suggest the possibility for a new ATH for alt dominance. For confluence, note that the halfway point towards 21.8% nearly equals the initial target of the smaller white pattern at 16.6%. And, rising green volume into the move.
We've Done This BeforeAlt dominance may be repeating its prior pattern, where it wicked up to it's ATH after a series of drops, and then dropped hard before making a new ATH.
I still question whether it will actually make a new ATH this time, but imagine it will at least revisit the area of previous ATH.
Related idea linked below - a falling wedge breakout that is targeting previous ATH
Alt Dominance about to BreakoutThere's a falling wedge with a failed breakdown on the 3 day chart. That failed breakdown highly increases the likelihood of a successful breakout. RSI has been diverging from price, and that divergence recently strengthened.
Bitcoin dominance recently bounced from the top of an expanding wedge and looks like it wants to head down, finally making its new ATL:
Could this be the time for alts to make strong gains against Bitcoin before the next halving run begins?
Correction to at least 11-12%RSI and MACD have been diverging from price. Expecting a correction to at least ~11%
HBAR To Gain in Crypto Market DominanceHBAR's market dominance looks like it wants to move towards 0.9 -> 1%. This would be a pretty massive increase in its position in the crypto total market.
Weekly dominance has held around the same levels for quite some time now, with a previous breakout that moved back down to support. It has since broken out a 2nd time.
RSI and MACD indicated this divergence before it occurred, and MACD has recently flipped green.
The overall weekly trend can be placed within a parallel channel, in which its move back up from support began at channel bottom. This could mean HBAR dominance is about to move back towards the top of its channel, gaining significantly in market dominance - up to approximately 450%.
It is possible we see HBAR making a move to take its place within the top 10-20 cryptocurrencies in marketcap and market dominance.
Also, a strong chance we at least see a move back towards the center of the channel above, which would still approach 230%
Keep an eye on CRYPTOCAP:HBAR
ALTCOINS An immense alt season is starting.The altcoin market cap dominance with its designated OTHERS.D ticker is rebounding after reaching the bottom of the Channel Up pattern that began on the December 2015 market bottom. A Falling Wedge was the pattern that drove it to the Channel's bottom as it did in August 2019. Following the rise at that time, a 1W Death Cross was formed over the Falling Wedge and that confirmed the uptrend with the 1W MA50 becoming the Support.
A new 1W Death Cross is only 2 weeks away from forming and that is an indication of a massive upcoming surge on alt coins, the infamous alt season. Technically there is no better buy entry than now. The next Halving will be on April 2024, less than a year away and the previous bottom was 280 days before the last Halving.
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Down to 5.5 and Lower or Back to ATH at 19.4Scenario A:
- Confirmed Head/Shoulders top, successful re-test and then down to 5.5%
- Likely headed much lower after losing the lower trendline of a long-term rising wedge, which has also been successfully re-tested and has continued down
- Possible because of two confirmed patterns and re-tests.
Scenario B:
- Unconfirmed Falling Wedge, which if it breaks up from will target ATH at 19.4% and bring us back into the rising wedge on pending a 2nd re-test.
- Double-top and then true exit of the rising wedge before heading much lower
- Possible because this behavior would be similar to the behavior following its previous set of peaks in 2017-18.
Inverse HS or Falling Wedge?Others dominance will make a decision soon:
1.) Bearish Head / Shoulders moving significantly lower
2.) Bullish Falling Wedge moving back towards ATH
ALT dominance at a crucial pointI was checking BTC dominance and I thought that not many people talk about altcoin dominance. In part this is because alts dominance is influenced by BTC dominance but I think it can give us a good insight of how altcoin prices will grow (or fall) in response to BTC.
We can see that right now alt.d is over 16% but it has been growing very steeply, but no market can sustain such kind of growth on the long run. I've used Helkin Ashi candlestick to show better the trends as they're the most important things in indexes charts.
I think the white path is the more likely to happen with BTC.D that should keep rising (I'll post a screenshot in the comments) and alt dominance should lose a 3% bouncing on that support area. This should make the angle of growth more sustainable and would be in line with the bearish DIV you see on the RSI.
According with my trendlines, BTC.D should grow at least until the first or the second week of March without reaching the resistance. If BTC will break the resistance it'll go to 52% of dominance easily but this would prevent alts to pump. In this case ALT.D would bounce between the two R/S, possibly go below 12%. If instead BTC.D would stop rising we might see ALT.D taking the green path but I don't see this happening to be honest. In any case next altseason might start once ALT.D will break out current level of dominance.
Current situation would discourage from accumulating ALTS to focus on buying BTC but I think ALTS are very cheap right now so I bought few just in case BTC.D would start lateralize fueling ALTS. If you want a safer approach to this market just DCA with BTC and you should be ok.
I'll add a BTC.D screenshot on the comments. I hope my idea will help you guys with your trading.
Good luck
BTC.D : A quick note on bitcoin dominance and altsCRYPTOCAP:BTC.D
Hello everyone 😃
Before we start to discuss, I would be glad if your share your opinion on this post and hit the like button if you enjoyed it !
It is inevitable that at some points in the cycle, Bitcoin will outperform almost everything. With a few outliers of course. However, it's important that this doesn't change your game plan.
Your game plan should already be set in motion. If you track your portfolio daily, both in USD and BTC, there are always fluctuations if you are holding a mixture of BTC, Alts and USD.
It would be near impossible to maintain your portfolio's equivalent BTC value round the clock, unless of course you were all in BTC.
I personally hold BTC as my base asset during bull runs (switching to USD at local tops or as near as I can) as well as moving to ETH as my base asset when ETHBTC looks set to out perform.
However, it is inevitable that my alt coin holdings (spot) that I have accumulated will take a hit during a strong BTC run - so you may see your 'BTC worth' drop at times; However, I think of alt holdings like a coiled spring. When under pressure BTC, they bleed - and are suppressed.
If you've accumulated at support, you need not to worry about the temporary drawdown in BTC, because in general alt coins out perform BTC in the right conditions, and so when bitcoin puts in a local top, altcoins regain their dominance and begin out performing.
HOWEVER
It is important not to be 'alt heavy' at times when the BTC dominance is at support.
It is important to rotate the ratio of BTC:ALT:USD holdings to lessen the impact of alts bleeding at certain times in the market.
For example, in January of this year, it was an amazing time to load up on altcoins given that BTC dominance was at resistance. We then saw astronomical gains in alts across Feb/March when BTC.D dropped like a rock. Then, in May when BTC.D hit support, the whole market tanked but alt coins got hit the hardest. Alts will lose value when BTC is volatile, in either direction. So it's important to balance the ratio of your holdings across BTC, alts and stables at certain times in the market.
I pay attention to Bitcoin dominance more so for my spot holdings. For my trading account, every asset is simply a method of making a profit on percentage gains.
So whether I'm trading BTC, ETH or alts - it doesn't matter as much.
But for spot holdings, I generally want to cycle my ALT:BTC or ALT:USD holdings.
When BTC.D is at support, I want to hold less alts.
When BTC.D is at resistance, I want to load up on alts.
Alts Dominate More than Ever or DieWe confirmed an inverted HS on the weekly chart here that took alt dominance to a new ATH, but hasn't yet reached its minimum target (the first yellow arrow up). We've stopped and consolidated right at the mid-point and should soon find out if we're going to continue towards that target.
If we break that target, the next two targets would be the next mid-point and then the top of the 2nd yellow arrow.
Should our HSi fail to stay above the neckline, our min target takes alt dominance down towards non-existence. We could still see a dip below the neckline prior to the move up to min target however, as we did something similar prior to our last big push.
Succeed at reaching new highs and bitcoin dominance will see a significant drop, possibly down into the teens.
Altcoin Dominance to hit 24% by the end of May?If we keep with the current ascending trend we are in now, we could see altcoin dominance peak at 24% around the end of May.
Alt season CONFIRMED 👀As you can, alt coin.d is formed cup handle and Half of the cup handle is formed and the other half is about to form,and this confirms we are going to moon 👁👁
Altcoin market cap analysiswe have been seeing altcoins and altcoin adoption grow rapidly since last year, I believe this year and altseason we are just beginning will be even greater than the first one back in 2018! we saw a 917% increase in market cap in 2018 and i think we are definitely going to see an altcoin market cap of 1 Trillion atleast! Because a lot more retail investors are interested in Altcoins rather than bitcoin and because this year and last year had the biggest increase of new crypto investors ever. 1T market cap seems very doable and i see that as conservative, once we do hit 1T which will be a massive milestone, i think we would see a lot of people, companies, institutions start to look at altcoins and realize the potential they have. That alone i think will send us even higher most likely to 1.5T and beyond! a rise to 1.5T would bring us a total 1096% gain and aprx 530% gain from right now. Nfa just my opinion!
Long term view of OTHERS.D This is an addition to the recent BTC.D post. In my view both have to be considered to get an overall view of the market. As you can see the Alt coin market is forming an ascending triangle. If Ascending triangles are continuation patterns then a breakout would be huge in the next couple of years. Even a bounce here and a retest of the top of the triangle would give us an amazing alt season.
1. RSI is at point that's served as a bounce in the past. Only one other time has it ever dropped below this point.
2. KDJ is oversold and trying to turn upwards.
3. Have no idea when a breakout would be. Although is estimated to be around the end of 2022. Would this be an ultimate Alt season or the decoupling from BTC.D?
BTC dominance at an inflection pointHello all. Hope your new year was a happy and safe one. Bitcoin sure has had a good new year. On an absolute tear as of late. I wanted to share some trends I'm seeing play out.
1. As you know triangle and wedge patterns can take a while to form and not be truly apparent until we get close to a breakout. It appears that we are seeing an ascending triangle forming on the weekly. We are at a major point right now. A breakout at the bottom over the next few weeks would put us in Alt season territory with Dom. at 60. A top breakout would delay any hope of an alt season for a while. Every aspect of Bitcoin right now is overextended. The only indicator that's not is MACD but it always lags so no surprise there. I'm also seeing major bearish divergences on Bitcoin's price. Bull markets can be irrational so who knows when it will break. When it does though it might be hard and fast and I wouldn't be surprised to see it at 20-30%. Could a retest of prev. ATH be in play? Who knows.
2. Ascending triangles are known to be continuation patterns. Although a triangle pattern can break in either direction BTC.D seems to be forming a huge bear flag.
3. RSI is overbought and at a point of historical resistance. As you can see it has never reached much higher than where it is currently
4. KDJ is forming a bearish divergence
5. On the daily chart not pictured there is a bearish divergence on RSI as well. It's also an almost exact copy of the fractal from Nov. 2017 before the violent drop in Dominance.
I'm also going to link in a chart of the OTHERS.D (Alt. dominance). It's forming an ascending triangle as well but moving in the opposite direction with a breakout possibly in late 2022 early 2023. If you subscribe to the lengthened cycle camp then this lines up. Also what happens when OTHERS.D breaks out to the upside? Will we be in territory where BTC dominance won't matter anymore? I don't see Bitcoin ever losing relevance but it may lose it's dominance one day, fulfilling part of it's purpose of starting a new era of decentralization. Then when the market is mature BTC dominance won't matter as much. Only time will tell...
