Altcoin Season 2024 is about to beginTo delineate the onset of Altseason 2024, I have meticulously scrutinized CRYPTOCAP:OTHERS.D , which offers insights into Dominance distribution, excluding the Top10.
Historically, the level around 12% has proven to be extraordinarily significant. Presently, the "price" rests just below this pivotal level (specifically at 11.93%). However, we have recently witnessed a compelling inverse head and shoulders pattern, followed by a move above 12%. This suggests that the current level may simply be a retest of 12%, potentially heralding the beginning of a journey towards new highs and triggering a substantial Altcoin Season.
I've opted to illustrate this phenomenon using the "Baseline" chart style. However, transitioning to regular candlesticks would further accentuate the significance of the 12% level.
Altseason2024
We are on the verge of a powerful Altseason !!While the Bitcoin ETF is on the news, ETH has now bottomed against the Bitcoin pair.
Bitcoin dominance is breaking down of a bearish rising wedge and suggests dominance of King Bitcoin has likely topped.
Do not get me wrong: this is bullish for Bitcoin itself !!
However, a falling Bitoin dominance (which is bullish for Bitcoin) is utterly bullish for the Digital Asset space as a whole.
Altseason usually starts when RSI of the BTC dominance reaches avove 58% levels on the weekly chart. Recently it has touched 60% when all of a sudden the Bitcoin dominance has been violently rejected at the 55% level.
These are the avaited signs for an Altseason which will bring the dominance eventually all the way to under 25%, which would signify ATL all time lows for the share that Bitoin has in the digital asset market space.
Soon I will post my number 9 and 10 of the TOP10 project list. Stay tuned.
Bitcoin Dominance VS AltseasonBitcoin's dominance has been protected on the 3D time frame by the EMA 50 since January, so for me a candle close below the EMA 50 could mean the start of the Altseason (Altcoin Season).
Remember that we are currently experiencing a correction in the cryptocurrency markets, which is healthy in the long term before the real bull run begins.
Altseason Indicator. Capitalization excluding BTC ETH USDT USDCLogarithm. Time Frame 1 week. Understanding the capitalization and growth potential of altcoins without BTC ETH and top steiblcoins USDT, USDC and DAI gives a brighter and more accurate picture of the timing of the start and development of that long-awaited altcoin season of more pronounced scale than now on 16 10 2023 - at the time of publication 8 12 2023.
1) The capitalization of these assets has long been in a squeeze - consolidation, this is a direct correlation with the accumulation zones. We are conventionally in the final phase of accumulation (almost).
2) Please note that there has been no real capitulation (perhaps there will not be, and if there is, it will be V figuratively, but that is not the point). Very much emphasize your attention to the timing of the length of this phase and past late 2018 and 2020.
3) Also note to your eye that at that time 2018-2020 there was not such a big capitalization outperformance from the rest of the BTC and ETH market. Compare that to the situation now, how much other altcoins are "undervalued" speculatively. You also need to realize that there is a correlation with stablecoins and their huge portion of the overall market compared to the time before.
How to enter these parameters on tradingview? .
In order to capitalize alts from TOTAL3 (initially without capitalization of BTC and ETH) and exclude all large-capitalization stablecoins from it, you need to do the following:
In the ticker entry line in tradingview write:
CRYPTOCAP:TOTAL3-CRYPTOCAP:USDT-CRYPTOCAP:USDC-CRYPTOCAP:DAI .
Accordingly, a chart is created that subtracts the capitalization of the designated stablecoins (USDT, USDC, DAI) from TOTAL 3.
Its time to reveal the truth. We about to take OFF !Hey everyone,
Im not that active as I would like to be because Im bussy doing other stuff then just investing and traing but I feel sad for many people turning bearish now so I thought
I might reveal the truth !
This might be a massive BEAR TRAP and that we are going up or pass the 10 Trill exclude BTC in next bull cycle which allready started months ago, but majority dont accept it until they see ATH ( This is where majority of retails start to buy)
When you see media joining we are close to the top ( Just so you know)
Lets make it simple and not overcomplicated with trillions of indicators and charts newbies cant actually even read. FOLLOW THE TREND & THE MONEY FLOW
For thoose thinking this is some random :shit: I dont appear here everyday but on important events to try rescue as much people as possible.
Stick with the long term plan and stay SAFE !
Keep in mind that there might be a pullbacks/corrections but that doesnt instantly mean the trend is turning bearish so PLEASE DO NOT FALL FOR BEAR TRAPS !
Wish you all the best.
Cheers
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Alt season predictionsBTC.D is the dominance that bitcoins market cap is over all crypto market cap.
It can be confusing, as BTC.D will increase when Bitcoin runs and the rest of the crypto market stays the same, As well as when there is fear and doubt in the market - people will run to safety - which will make people sell alt coins and buy bitcoin - making BTC.D increase even while Bitcoin is losing BTC value.
On the other side however,
When bitcoin increases in value - people take profits from bitcoin - either into a stable coin or to place into alt coins.
It is at this magical stage of the market, where alt coins do their massive returns.
Historical analysis
The red lines are the point on the RSI where the RSI has moved below the MA and been rejected. As people who read my posts know that this is my favorite signal in trading.
The March 21 Bull Market (the left red line) Took Eth from $1432 to $4852 in the 2021 altseason.
Note at this point, Bitcoin was trading at $57k when this started
The next red line is July 2022.
BTC.D lost the support, while confirming a bearish trend on the RSI.
This lead to a 100% return on Eth
Current analysis
BTC is on a rampage, there is an ETF about to be announced, and the halving is around the corner.
The time has come for believers in bitcoin to realize that the risk of NOT owning bitcoin far outweighs the risk of owning bitcoin.
This can be seen by the up only mentality, with minimal paybacks.
This could see a likely top for BTC.d at around 58.1% as tgus was a big pivot point in the past.
Currently, the candle wick week shows that there has been a hard rejection above the 50% level of the channel (the blue dotted line), making a lower high on the chart.
Possibly, we could see alt coins start their rally now - however the RSI MA is currently curved up - showing bullish momentum on BTC.D.
If we close this candle however, there will be strong bearish divergence and this could really start the alt coin ralley.
My official call for alt season are:
A break and close below the yellow trendline +
The RSI confirming the downward move on the MA (possible Feb-March)