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11.10.2019 - Altcoin CapitalizationHi Traders!
Today we will look a bit unconventionally on the capitalization of altcoins. We know that many beginners also read these articles, so let's first say what capitalization of altcoins is? Altcoins are all coins except Bitcoin. Altcoin capitalization means how much money is allocated in all coins except Bitcoin. The difference between total capitalization and capitalization of altcoins is therefore only Bitcoin itself.
What does the graph look like?
A lot of people these days say that the altcoin season could come. What does it mean? This means that altcoins would grow faster than Bitcoin. The graph looks like this. We are currently in a channel with a target we have already achieved. However, this target is conservative. Whenever we reach the target, it is important to wait for the reaction.
Bullish scenario
The reaction came, but down. At the moment, it is absolutely essential that we do not break the channel downwards and keep the decline in the channel. If we can do that, further growth is possible.
Bearish scenario
This scenario is such that growth has indeed been completed and we will continue down. The previous forecast came out perfectly and there is nothing else left to do but wait for the market to offer.
From the point of view of altcoin trading, this is an absolutely crucial situation and a key graph to follow. We are more in favor of the bearish scenario, and we are also a little worried that a number of altcoins will still go to their new low. To confirm growth, we need to cross the channel upwards. Until we break it, we are more bearish.
May the crypto be with you!
ETH for the Next Couple DaysHi everyone,
Taking a bit of a guess right now that ETHUSD is forming a bearish diamond diametric, where we currently are beginning Wave-E, taking us upwards again of $190, but likely not higher than $195.
If this in the case, it will take a couple days for this to play out, and then will be followed by a more sizeable downmove, so it's still looking overall bearish for ETHUSD.
Not financial advice.
SPX500 | Short The market continues to move by the lower limits of the channels which is the support line for the price.
For the second day, bears can not go below this line.
Today, if we see a shift away from the level of 3003 and the price growth, it will mean that the blue channel continues to influence the price movement. In this case, increase in the direction of the resistance level of 3053, which is located on the upper wall of the green channel, is possible.
If we see the support failure to the level of 3003, the bears will get access to the lower limit of the green channel and the support level of 2938.
Gold may go down ?Hi, on the chart is possibilities to go down. The price bounced down from strong s/r zone and next role reversal pattern was create. We can go down to next green support and that may be the TP. What can help us is, if EMA 100 will cross the EMA 200 and the price be under EMA 100,200.