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Altsdominance

Well, HELLO... Alts!If you got caught in the dip with a bag of rocks, there's still hope for us here. And if you bought the dip, you've got balls! But if you're looking for a confirmation to dip your toes back in the Alts market, I say pay attention to the following technical confirmations in play: 1) Ichimoku Cloud: Alts.D daily candle breaching over the Ichimoku Cloud. So let's wait for the daily candle to close about the cloud. 2) Crosslines: The Conversion Line (blue) needs to cross above the Base Line (black). This may take extra few days. So this confirmation will be lagging but necessary. 3) The same applies to the MACD: The blue line needs to go above the red Signal Line. 4) The RSI is showing an oversold W which can translate to a pattern going north from here. Some of you why I remain bullish for Alts, well simply put Alts were caught while giving new ATH in the mudslide that BTC created with the FUD. Nothing fundamental has changed. My expectation is that we will have an uptrend for Alts till the end of the week. During the usual bloody weekend, Alts.D might dip to retest its support that is currently resistance 1.02T 100D EMA. And if all goes as planned, then Alts should be back on a quick recovery next week. Till then... keep the flame suit on, the market remains volatile. Feel free to share your thoughts below.
CRYPTOCAP:TOTAL2
by eBlockChain
There's hope for Alts on top of the 100D EMAOf course a very different mood today, 1st of the week following the massacre of the weekend. So what do we see here: 1) Alts.D trending nicely above the 100D EMA. => Today's candle close will be a good sign for hope. 2) BTC.D is losing ground while BTC is moving up and the Alts.D going up further. => Another good sign. 3) All Alts are in green, some breaching 50% gains already while most are in two digits. So did the market recover, no? The market was oversold and now bouncing back. For a full recovery, we need to see Alts go above the 50D EMA, close above it then go and re-test it before going further north. This minimum needs a week, if not more. I am sure everybody is extra careful this time, no high hopes but only good wishes.
CRYPTOCAP:TOTAL2
by eBlockChain
Alts Season is over... King's Landing in ruins!The bloodbath was brutal over these past few days, and the Alts were the biggest losers where many fundamentally solid large caps lost more than 70% of its value in 72 hours. What are the readings? 1) Total Market Cap lost 50% of its value 2) Alts.D lost 50% of its value too 3) BTC.D is increasing on the expense of Alts.D 4) Alts.D closed below the 100D EMA already, and now it's even trending below the 50 3D EMA. 5) We are few hours away from the weekly candle to close, regardless of how it closes... Alts season is over! 6) Is it bear market already? Next week will answer this question. So what really happened? My simple interpretation away from the chaos is the following: 1) Big whales cashed out BTC early in late April as we started to see BTC reaching the top. 2) FUD took over the entire market last week 3) More whales cashed out Alts in fear of a crashing market 4) Everybody else panicked and sold at loss... and here we are walking through the ruins of King's Landing. So where do we go from here: 1) Bitcoin is expected to bounce from here. We might have a relief rally next week. 2) Alts will slowly recover in USD value, but will take a long time to recover vs. BTC.
CRYPTOCAP:TOTAL2
by eBlockChain
9
Next 4H Chart is crucial for Alts Dominance... double bottom?It is a weekend, where weekends are usually bloody but considering that the market has been bleeding for few days already, we might have a bit of a relief... though in order for this to materialize, this 4H candle that just started need to stay above the marked support line. If it stays above it, we might have a double bottom here for Alts.D and get a green market. If the 4H candle closes below the support line, then more blood will be on the dance floor!
CRYPTOCAP:TOTAL2
by eBlockChain