bears must break 67.50 for altseason oterwhise alts are fuc!#@we are at the decisive moment if bitcoin breaks the resistance we can say goodbye to the alts.
In any case,i am confident that we are at the beginning of an alt season up to the main support of the structure as btc seems to be ready to lateralize and leave space.
Btcd
BITCOIN DOMINANCE - ALT SEASONSFollowing a similar pattern to the previous cycle we expect a flow of money/value from BTC to ALT coins.
This is due to the prominent correction of the BTC value and the need of smart money to maximize their profits by moving funds from BTC to promising ALT coins.
The latter will signify an ALT-Season which will not last for long (a couple of weeks to a month the most) because everyone know that BTC hasn't hit its ATH yet. Thats why i call it MINI-ALT SEASON.
Soon money will flow back to the king and adding to that retails will FOMO in, leading BTC to its new ATH through an impressive final bull-run .
As soon as the top is in and while dump retail money will be still fomoing, smart money will be taking profit and/or moving to lower caps for even greater gains. This final stage will signify the final ALT SEASON and the beginning of the BTC bear market.
blue vertical lines = halvings
purple vertical lines = BTC ATHs
arrows = start points of the MINI-ALT SEASON
BTC Dominance - In corrective move, alts continue to shineBTC Dominance continues to fall vs alts with a lower high as shown in the chart.
BTC is likely to re-test the main support line of the blue pennant if the alt rally continues. We need BTC to pass the 72% level if we are to aim for 80% or more.
The 4h charts shows an inflection point at 69%, if we find support there, BTC will re-test the 72% level, if not, down we go.
Next week should be interesting.
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BTCD 1D in Ascending triangle @ RESIST - Time to break out??Taking a macro look, we can see that Bitcoin Dominance has been ranging within an ascending triangle- a bullish pattern. It's been rejected by the current level twice before, but is third time the charm? The huge volume behind the recent move suggests it might be... It also recently broke out and then retested the top of the previous descending channel which started forming back in September, another bullish sign.
However, being at historical resistance & the top of the recent rising broadening wedge, I wouldn't be surprised by a retrace towards the bottom of the pattern before another attempt to break out-- there's definitely still room within the pattern for this idea to play out.
dotted lines show previous support & resistance.
Happy trades,
CD
long awaited alt szn, close to being confirmedGood evening friends, happy new year!
I see this as an opportunity to come back into publishing some ideas again after the holidays.
But we both know I didnt do much anyway, so thats just an excuse!
Well, yes and no, as much as I didnt do much for the holidays I am getting my bags ready to move back to Brazil after 15 years living in the USA.
Anyway, what I wanted to point out here is a simple race that could show us if this is the start of a big and long awaited alt season.
The race between the red rsi and white energy has started and what we need to happen is: we need the red rsi on the higher time frames to close below 50 before the white energy on the lower time frames close above 50. So now we need the white energy on the 3h to stay below 50 so the rsi on the 6h close below 50.
On my last BTC.D publication I mentioned the 4D could be exhausting and maybe this right here holds the key to freedom for them alt coins!
poor bastards, they suffered this time xD
Trade thirsty my friends!
Inverse Head & Shoulders, #BTC.DMake Sure You Take Your Profits!
Dominance May Go Higher Before Forming the Top of the Right Shoulder..
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#Bitcoin Dominance Will Reverse!-The Higher Bitcoins Goes The More Money There Will Be To Flow Into The Altcoins!
-The Top Could Already Be In, RSI and MACD are exhausted.
-The Indicators are also exhausted on #Bitcoin & a retracement would be healthy.
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Bitcoin Dominance (BTC.D) Approaching ATHLooking at the 1W timeframe of the Bitcoin Dominance Ratio (BTC.D) is slowly re-approaching it's previous all time high. This means that right now BItcoin's market cap is about 70% of the entire crypto market cap and still rising.
Since the altcoin season at the end of 2017, the Dominance ratio has been gaining and doubled from 35% to 70%. From here on the next weekly candle, BTC is going to retouch the top mkt. cap dominance at 72.04%.
Another option for the Dominance is that this weekly candle (just like the move up to 72%) closes below the level and doesn't gain it as support. At the start of the altcoin season we saw the exact same candle pattern on the weekly where it 1st touch rejected off of the 70% dominance level before proceeding to fall in the following weeks.
Right now, that same exact pattern could play out. We are now 3 years exactly from the previous altcoin season and have seen many coins been shaekn out as well as 10x and 100x growth on more-known altcoin projects. It's only a matter of time before the dominance crashes again for another altcoin season and i'm going to continue posting this chart giving updates until it happens.
In 2017 also to take note of, Litecoin (LTC) lead the altcoin season and right now it seems to be outperforming the market by a lot after breaking out of a 2-year downtrend.
History doesn't repeat itself, but it often rhymes.
BTC.D falling from resistanceIn the spring of last year, the price went up a lot.
After the growth, it switched to a downtrend and moved in it for almost the entire year.
Until in Augusta 2020, the price pushed off the support and started a new trend (upward).
We have been observing its growth for half a year.
The movement is corrected by the support line and the line of resistance formed in August.
But the movement between them is not uniform.
In November, the price came to resistance and literally in a couple of days fell to support.
Now, it took almost a month to rise to resistance.
The price is at the line 70.68.
In my opinion, the price drop this time will be longer with corrections and pullbacks.
I expect the price to come to support.
The target is 66.41.
-------------------
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BTC Dominance hinting an alt season is nearBTC D. is used to calculate the % of BTC market cap has in the overall crypto market.
We can see the broken rising wedge that restested TWICE. And formed a double top.
Now the next move for the market is that BTC let ALTS breathe.
In theory, the move down of the dominance would be calculated by the lenght of the wedge's base. This would bring us
to 40% D.
However, i dont think it will go that deep, even if i wish. But lets say that its time. A lot of big caps alts are not even 1/4 of
what they where last BTC ATH.
May take 2-3 weeks to take full action and go on for at least a month up until the end of march 21.
#Bitcoin Dominance Mid-Term Analysis ( @bitcoin )Hello there ladies and gentlemen, BulloTaurus here with an important update for today .
For the past months we had an amazing bull run so far! Bitcoin broke all previous resistances like there were none of them!
We still didn't saw a massive volume spike on exchanges, mostly because this time we have Institutional Investors join the game that have their own private offers to buy bitcoin what doesn't always show on graphs.
The dominance of #Bitcoin is also in a uptrend currently trying to break the 78.60% Fibonacci Retracement level. It followed the support line and currently its looking that we can see the right shoulder to form the Head and Shoulders pattern.
I personally think we will see soon a retracement to the 50% level near 64.33 as we wee based on VPVR indicator pink line on the chart. The next move will kill most of alts and leave them red for long time.
We can have a small hope to have a mini alt-season while forming the right shoulder but not for long time unfortunately. This means that Bitcoin is building a massive move to 27k or even higher.
I would avoid holding alts for now, it is still too early to look into any profitable trades, although there are so many good buys at the moment.
Peace.
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