Are you waiting for ALT Season ? Think about this first.........TOTAL 2 is a chart i have posted in the past but not opften enough recently and a post in Tradingview recently . jogged my memory...and this is what I See.
TOTAL market Cap is the top 125 Coins minus BTC and so can be seen as a Top ALTS chart, showing the performence of the Top ALTs against Bitcoin
And as the chart shows, we have seen a rise recently, a very profitable rise for some but, we get rejected off the high of the Daily channel.
This may be a Lower High after a Lower Low.
That is a warning in its own right.
The next chart we need to watch here is the Bitcoin Dominance. If we watch a chart that is most top coins minus BTC, it makes sense to see if the Bitcoin Dominance follows what we see there.
This is a chart I have been posting often, following PA in the pennant it has formed.
Things to note here are that PA is Top of channel and that iti s supported by volume. this has potential to break out. However, the apex is way away in October so it maybe Early yet. But when Bitcoin Dominance takes the lead over TOTAl2, ALTs will tumble.
And expectations are for Bitcoin to make a Stronger move some time in August / September.
Thats not far away.
MACD on the BTC.D is above neutral on a Daily and Still fallling bearish on a Weekly.
MACD on the TOTAL2 is turning Bearish Just above neutral on the daily and Falling Bearish on the Weekly, though near Neutral
For me, ALTS have a little more Time to run if this continues as is and the recent push high by BTC get Rejected.
IF BTC.D breaks out...Sell up and Buy BTC and watch ETH ETF's Fail
There is so Much at stake here for so many....
See what I did there ?
THINK CAREFULLY RIGHT NOW
