Last correction before take-offWe have two pattern that confirms that bearish breakout is just round the corner.
I think we will see a correction down to around 60-55% market dominance.
In 1-3 month we could see a bullish cross between MA200 and MA100.
+ Volume is significant higher then before (new money flows in to crypto space)
+ Time left to halving 175 days (25 weeks)
+ MA200 is flattening, moving towards bullish cross
In my opinion, we are still in accumulation phase and the start of the next phase (advancing) will start for real after halving.
With this significant higher volumes in accumulation phase, demand for BTC will be like never before after halving.
I believe the dominance can reach up to 85%-90%, and people holding Bitcoin will not be so interested of selling it in near future after halving.
The advancing phase I believe will attract further new money into crypto space and fuel the price to new all time highs.
Short term, 1-3 months: Bearish
Long term, 2-12 months: Bullish
Marketcap
BTC Dominance (Prj.Y19.P2.E3).BTC is getting ready Observations:
> On the 4 HRLY chart, we can see another Bullish Div. coming into play, much like BTC\USD also forming a bullish div. (link below)
> As you can see on this chart, the history of recent reversal due to bullish divergences.
My Thoughts:
This is good to see as it lines up with BTC price chart, with a downward bullish wedge in the making.
With the BTC shorts remaining low, implies either people are holding onto their BTC (not selling) and going long or they are not trading and staying away, waiting for the right level.
From the many posts, it seems people are looking for lower prices which can inadvertently push the price up, making it bullish. It happens often.
My previous post also captures this as per link below.
> Also note BTC shorts (are remaining low) compared to the rest of the year.
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Cheers,
S.Sari \ CryptoProspa
BTC Shorts, Daily chart. Shorts still remaining low
BTC Longs, Daily chart.
BTC 4 HRLY chart, today's post
TOTAL MARKET CAP WITHOUT BITCOIN! This is the general altcoin sentiment! If you plan on trading alts make sure you know how the rest of them are stacking up against bitcoin!
We may have a new possible uptrend temporarily!
Remember! -> Patterns work until they don't! So combine your edge with support+resistance levels!
Trade with low leverage and patience! 5-10x leverage max can make the market your ATM!
Comment: Red/Green boxes are areas in which changes of market behavior happen!
Green= A good buy area! (Odds are in your favor doesn't mean guaranteed win)
Red = A good short area! (Odds are in your favor doesn't guarantee a win)
LINES= AREAS OF SUPPORT/RESISTANCE
TOTAL2 Market Cap Exclude BTC | Bullish Chart & IndicatorsCrypto Total Market Cap Exclude BTC (TOTAL2)
This chart is now bullish with bullish indicators... Let's take a closer look.
In late October TOTAL2 had a strong breakout that put its value above EMA10 and EMA50... Right now the resistance that is being challenged is EMA100 at 73.515B.
The light blue space is where the consolidation/sideways action can take place.
The continuation is bullish, a bullish flag or also ascending triangle can be drawn on this chart as bullish chart patterns.
The indicators are also bullish. The MACD is above 0 and the RSI strong above 50.
We also have higher lows and higher highs being printed on the chart... So we are expecting a follow up from the bulls based on these signals.
SUPPORT & RESISTANCE LEVELS
The immediate support is EMA10 at 71.145B, followed by strong support at EMA50 (69.831B).
As a resistance, we have EMA100 as mentioned above at 73.512B followed by the Fib. resistance at 74.299B.
All the additional details are marked on the chart.
Feel free to leave a comment if you have any questions.
A LIKE for more charts, free content, trades, and analyzes.
Thanks a lot for reading.
Namaste.
Altcoin Market Cap Bullish breaking above Cloud and Golden CrossThe short term Altcoin Market Cap is looking very bullish here in my opinion.
The last time we broke above the Ichimoku cloud we saw almost 3x gains and now we have broke above the cloud again with 70B acting as support here.
We can also see the 50 day MA crossing above the 100 day MA which signals a bullish trend a golden cross with the 50day now approaching the 200 day MA also.
The Fibonacci retracement also shows a first target at the 0.382 level of 90B, followed by the 0.5 fib level of 100B. Should we break through these levels then we are looking at the 0.618 level of 110B which if we can pass would soar to above 140B at least.
In my opinion this is a short term view which could play out over the next 3 months or so.
Alts market cap - Breakout imminentHello, we are forming a cup handle and currently on bottom of the cup with already breaking minor resistance lines and some other alts have alraedy formed and filled their respective handles. Total alt market cap will only follow. Hopefully this will look like rocketing in all alts general and then finish by blast when we possibly BREAKOUT from the cup & handle.
BTC Dominance (Prj.Y12.P2.E2.version2).More CorrectionAfter reviewing BTC performance and predicted path, I see BTC dominance dropping further.
Reasons:
a) The pullback is evident. Some say to 8500 ultimately, some say 8800 to previous resistance and 200 EMA
b) I foresee some accumulation\ranging of BTC between 8500-8800 to 10400 creating some sort of MACRO breakout or bullish pattern
c) I see this going on for at least another month to mid Dec. eventually hitting 12K early next year
d) During the ranging period, I see the ALTs rise as many of them like LTC have hidden bullish divergences (on the weekly).
e) Anticipated RSI movement, more downs.
I'm guessing this will go down to the 0.618 retracement but it could be more, as per the chart, eg. 200 EMA.
Cheers,
S.Sari/CryptoProspa
Previous post
BTC Dominance (Prj.Y12.P2.E2).A correction complete?A few indicators suggest we are now about to have BTC back in play.
Either the ALTs are going to drop because they have made good ground or BTC is about to break up from the 9470 Resistance.
This is a tuff one.
Observation:
We have the 200 EMA on the 4 Hrly
Key Fib Level
Previous support level.
However the Daily shows more favourable to the next fib level down.
I'm going with BTC gaining momentum to break the 9470 resistance where there is many watching and will come in once it breaks this line?
What other reason would BTC go up? A big drop to 8500 range? I don't know as the daily suggests more down to the 0.618 retracement.
BTC Dominance (Prj.Y19.P2.E1).Ever so close to a reversalWe can observe the following:
a) Falling Wedge
b) On the DAILY, a BULLISH DIV. (indicated on the RSI with the black line)
c) On the 4 HRLY, a BULLISH DIV. (indicated on the RSI with the black line)
d) Support line indicated by the RED Section.
Thoughts:
BTC might do a move on the upside and hence people are flipping back to BTC as you can note many ALTs have recently done a good increase against BTC, some reaching or going beyond a known resistance.
DAILY Chart
Previous post
ALT Dominance (Prj.Y19.P03).Further DowntrendThis is a WEEKLY Chart (TOTAL2) which is market cap of the ALTs minus BTC cap
Observation:
* 20 EMA on the Weekly is acting as resistance (black line)
* 100 EMA also acting as resistance (blue line)
* We have a lot of resistance in this area
* On the Daily, we have hit the 0.786 retracement which could suggest that the bottom has been in.
* Alts has had a dismal performance as the restracement barely made the 0.236 fib level
* Market cap is ranging in the RED Zone
* Trend is still downwards with a BULL divergence in play, which explains the current rise of the ALTs
Thoughts:
Until we see the ALTs break the 20 EMA, it is advisable not to go long on the ALTs.
As one can see the BTC Dominance Chart (below) we can observe that there is for now a support at the 68.5% level (0.236 fib level)
One could probably find a reversal here, which could be either a strong bull break up or a big bear break down.
Its also possible that we approach the next fib retracement to the 0.382 level for a reversal as well.
For now, I would think that BTC dominance will go sideways just like the ALTs for the short period of indecisiveness.
Daily Chart for TOTAL2
Daily Chart for TOTAL2 with 20, 100 and 200 EMAs.
Below is the BTC Dominance chart on the Daily
Total Market Cap: Cup with handleSo I have had this idea that the total market cap itself might be forming a cup with handle pattern. At the very most i can see the rounding bottom and now it seems we have begun to retrace.
Typically we don't like to see too much of a retrace on the way down something around a 50 percent retrace from the low to high is preferred.
On the chart i have noted that right now we are at the 61.8% retrace from the low to high but that's only on linear scale if we check log scale you would see that we are sitting near the 50 percent retrace.
Log scale does however ruin the left side of our rounded bottom which is why i have kept the basis of this trade on the linear scale.
A measured move if we ever did break out bullishly would bring the Crypto market cap very close to all time highs which would be a great time for any of the cryptocurrencies worth their weight.
Too deep of a retrace downwards could ruin this set up but it's still worth looking at.
Ignore the trendline i plotted on the MACD it was drawn on a smaller timeframe. *
ALTCOIN Market Cap. Impressive Symmetry.This is just a quick reference to where the alt market may be heading after Bitcoin's latest sell off.
To me it is impressive how the market managed to follow a downtrend that symmetrical to the uptrend of January - June.
Do you think it can go all the way down to fill the pattern? Personally I see the next symmetrical Support levels as strong candidates for the start of the next uptrend based on a comparison with the previous Bull Cycle. Also the 1D MA50 should start reversing around 50.50 if it follows the symmetry.
Crypto total market cap longThe big total marketc cap support log trend that nobody is talking about and where we at now. It's clear to say that you are betting against the bigger picture if you don't LONG NOW.
Also it's clear that if we turn this trend into resistance then we are going to DIG HARD. There is no in between.
That said' perfect time for long with tight observations how it continues to form.
All these Bears in Crypto Bringing you Down?Lets be real, Bitcoin broke its trendline and it broke a topping pattern to the downside, however, there is still a strong opportunity here for bitcoin and the entire crypto market to recover.
The Chart:
This is a chart that I have not opened up in a long time, however, in green we can see that price action has maintained a price above the green slow moving trendline; in addition, this trendline is the very same trendline which most of the crypto market reacted off of in an extremely bullish manner. There are two important possibilities at this trendline, either the trendline will hold, or it will not. However, if price for the entire crypto community consolidates at this trendline for a longer period of time an moves up, its possible that this was merely a retracement to test this trendline as support. However, if this trendline is broken, then the next slow moving trendline is quite a distance away in both price and time, so it would be possible that the next bull market wouldn't occur for a long time.
Previous Analysis: