Btcd
Can BTC Reversals Be Predicted Using BTC.D and LTC?!I recently stumbled upon an interesting correlation regarding BTC.D and LTC.
For those who are unfamiliar with these symbols, BTC.D (Bitcoin dominance) is the ratio of the total market cap of BTC versus the market cap of the entire cryptocurrency market and LTC (Litecoin) is one of the first altcoins to gain in popularity (often it is mistaken as the first altcoin, but that distinction technically goes to Namecoin).
What is interesting is that when one maps out the inverse of the ratio of BTC.D to Litecoin, one gets an interesting horizontal parallel channel (represented by blue lines) that has predicted reversals fairly accurately for nearly the past 5 years.
Note how when the ratio gets near near the top of the channel, a top is in for bitcoin indicating a reversal downward. What is also interesting is when the ratio gets near the bottom of the channel, a bottom is near for bitcoin indicating a reversal upward.
Litecoin has commonly been considered to be in lockstep with Bitcoin since its creation, but the trend has actually been trending downward since Litecoin's inception causing this interesting relationship.
What is concerning is the price has just recently reached near the bottom of the channel once again during the recent price drops.
Will this trend continue is anyone's guess, but I figured it was interesting enough to point out and rather beautiful in its symmetry as well.
What I do know is you should NOT take this as trading advice in any way whatsoever. This is not financial advice and is solely my opinion.
But also, please like if you also find this idea interesting or comment with your thoughts as well.
BTC.D 🧩Hey hey my friends 👋
Lower low on price action with a higher high on RSI is a bullish divergence, expect a pump in price action which will give altcoins a pull back, maybe consider taking some profits from positions in the green or moving stop loss into profit areas 🧩
$BTC/USDTIf we we're able to break this triangle pattern, the market could recover from it's dump.
If $51,000 breaks, we could predict for another leg up for bitcoin and in some other alts.
Alts market cap is still looking good, btc.d is below 53.
Hoping that bull market cycle isn't finish yet.
But please, always put stop loss from every trade.
Trading alts now is very risky at the moment.
I would suggest, wait for the retest of 51k if it breaks before longing any alts and btc.
If we failed to break that resistance, we might go to 40-43k level.
alts would be bloody, make sure to have an exit plan before it happens.
Trade with a plan, and plan your trade.
Trade responsibly
BTC.D Bitcoin Dominance Falling - 2021 Altcoin SeasonLooking at the 3-Day chart of the Bitcoin Dominance ratio spanning from the altcoin season of 2017 to now, it looks like history could repeat itself for a 2021 altcoin season.
The ratio topped out at 72.04% back in Sept. 6th, 2019 and then retested that same level and couldn't break through it at the end of 2020 going into 2021. From here, the dominance has done nothing but drop like a falling knife. For the past 2 months, Bitcoin Dominance has been steadily falling without anyone paying much notice.
The momentum is falling and I think the dominance is on the path to hit the 53 - 58% zone. If the Dominance doesn't hold at 53% we could see another altcoin season 2021 all the way down to the 35 - 40% zone.
With all the NFT hype its possible this could be a first catalyst or a catalyst that pushes the real start of altcoin season.
Bitcoin Dominance Update, Put Stop loss in all tradesBitcoin Dominance Update
Bitcoin Dominance is bouncing from the long horizontal support line and also tests the psychological support of 50%. There are two possible scenarios now.
The first one is that Dominance bounced from here and test the 58% resistance area and if breaks above it we see a retest of 64% resistance area. In that case, alts will bleed in the BTC pair.
The second case is that Dominance breaks and closes below the 50% area. That will trigger the targets of 45% area and after that 40% area. This is bullish for alts and we see a good altseason in BTC pair. However, there is a low probability that Dominance goes to the 40% level sooner.
Alts market is going parabolic since January 2021 and we see huge gains in the alts market already. Check any altcoin chart and you see a parabolic move without any correction. We expecting a correction in the alt market before the next rally start. We will continue to find TA + FA gems that will give good returns in every situation. For now, open every new trade with a stop loss. Keep Earning
BTC.D to 40% soon BTC dominance is dropping like a heavy rock. Retail and institutions already know about bitcoin, but they are starting to learn the alt coins too.
I expect a nice bounce off the 50% line and then continue downwards till 40%
ALTSZN
Bitcoin Dominance Critical Support WeakeningBitcoin Dominance critical S/R is being tested and we've some moves below it. If it breaks completely we should see ALTS really go into high gear. Assuming history repeats itself and institutional investors don't just pull out entirely (temporarily). But we should see whales pump ALTS in a drastic and quick way. Be prepared for shakeouts and to sell at the top. Time to let go when the euphoria sets in.
Monthly Bitcoin Dominance to 40 % or 99 % ?As you know we're entering the summer vibe and every summer begins with Ethereum surge and dominance decline which is more bullish for altcoins.
I Predict we're almost having a support in the BTC dominance and after we could go back to 53%, at this point I see a left right shoulders on monthly frame chart which is bearish; back to 40 %, but if it breaks above I am bullish back to 99 % long term.
Let's see
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Peace
Dominating The Market Btc.d #Bitcoin $BTC #BitdHere we see our Bitcoin Dominance chart which today dipped into 51 area ! This is major ! Our expected Altseason won't happen with a high Bitcoin Dominance chart so it's great to see this dipping even lower right now! You can see we are under the daily Ichimoku cloud . We are under both the 50 MA and the 200 MA . And we have hit a TD Sequential 9 in red on this daily chart as well as the 3 day chart . This chart is just red ! And whilst the Dominance of Bitcoin in the market goes down - the rise of Altcoins in the market should continue up , even giving us a bit of Altseason! So this is very Bullish for our Alts . Last Bullrun of late 2017 saw Bitcoin Dominance actually fall to 36 area at end of December 2017/early January 2018 !! That's quite a bit lower even than we are now though there's no guarantee how low it goes . No one can say yet but so far it seems like our altrun will be looking good all year .
Altseason is here The recent dip spurred some fears but so far the sell-off didn’t spread beyond Bitcoin. ETH, BNB, and many other cryptocurrencies already recouped most losses.
The usual weekly questions to Hybrid Intelligence can help to gauge the trend:
“Bitcoin crypto market share settled at 51.91% at 12:30 PM UTC on Wednesday, April 21. Will Bitcoin's market share climb above 52.95% (+2%) earlier than drop below 50.87% (-2%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 11%
This means BTC dominance will likely drop further. Last week it already dipped below 51% and now that looks like the resistance level.
Another question is helpful for estimating the overall trend:
“The cryptocurrency Market Capitalization settled at 1991B USD at 12:30 PM UTC on Wednesday, April 21. Will the Market cap climb above 2140.3B USD (+7.5%) earlier than drop below 1841.7B USD (-7.5%)? (forecast 51-100% - bull scenario. 0-49% - bear scenario)”
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Assurance: 70%
This is a bullish sign for altcoins. The $2 trillion level now looks solid with many assets being quickly scooped at discounted prices.
Together these indicators point to another altseason. With a firm support level and a relatively limited range for BTC, many traders will search for moonshots among other cryptocurrencies.
BTC.D Update : Altseason is Coming?! If BTC.D Break Down 50-51 Long Term Support, Altseason is Coming...
What Do You Think?
Regular 20% Bull Market drawdown...Traders I know this last move was a surprise to all of us but we need to remember that historically this is normal and very mild. In the last bull market BTC had over 7 20 % or larger drawdowns. Its imperative that markets have shakeouts to reset funding in order to climb to new highs. I posted about 12 hours before the big move down that I felt strongly that money would be moving away from alts and into BTC. Looking at my screens tonight the only thing green is BTC.D. In addition we haven't had 5 down days (red daily bars) since November. I'm calling a surprise move to the upside starting tonight thru tomorrow that catches many off guard. Look for shorts to be liquidated and BTC to be back above 58k climbing back into channel. So many on trading view are calling this middle zone and a horrible entry. Again markets move in the way that frustrates the most people. Now too many are wanting to buy back in near 50k and some even saying 45k. The SHARK is calling for a surprise upside move tonight and tomorrow. Find someone else on this site bold enough to make straight forward predictions publicly when the odds are totally against him. You heard it here first. Follow the SHARK and make money.
BRONSON-TheSHARK
BTC.D fractal#BTC.D
BTC.D now face a strong support zone, that may take time to break.
Also a fractal from 2017 shows we are still at the beginning of alt season.
BTC.Ddominance broke support so can go down more until next support . so Alts can go up parabolic . make sure that u boguth Alts
BTC dominance pushback soon?!Bitcoin has been dominated recently by a huge influx of alt price increases while the price of BTC has steadied. However, it looks like a pushback is right around the corner in the next few days based on the current trends.
On the one hand, there is a horizontal parallel channel that has continued since the beginning of 2019 (blue dashed lines)!
On the other hand however, if support breaks, there is another parallel channel of roughly equal size that started in 2020 and solidified itself in 2021 (red dashed lines)!
It looks like both channels have a fairly solid chance of taking over, but since we are approaching their crossing, it looks like that bitcoin will take over in the short term.
This leaves me with two questions:
1. Will bitcoin take over in the in the relationship after the bounce for the next few months?
2. Will a short term bounce occur (and potentially continue) because BTC increases at a faster rate or due to a drop that takes every alt with it?
Please like if you agree and leave a comment with your thoughts/theories! It looks like we shall likely find out which way the trend heads over the next few days, but definitely something of which to be aware!
BITCOIN DOMINANCEI think this is a very strong signal that I can see, It has many patterns that show it gonna go more down. After that, we gonna meet Altcoins on the mars. But everything has not to follow patterns or technical analysis, if some good funda comes for it, so has a chance for a pullback. It's all about time.
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