Bitcoin will lead Crypto Market Cap higher!The market is in a bullish flag pattern and just bounced from double/triple bottom.
We have found strong support! Bitcoin is usually the one that decides the market direction.
There is great 1.618 Fibbonaci level to be reached in the midterm timeframe.
More strong arguments, detailed explanation and correlation with other indicators coming in the updates.
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Stay tuned!
It's around 90% chance we are just before the push we have been waiting for months.
Marketcap
Crypto Total Market Cap Exclude BTC (TOTAL2) | UK Bulls Vs BearsI am looking at TOTAL2, the index for the total cryptocurrency market capitalization excluding Bitcoin ... Calculated by Trading View...
Here we have some signals to look at that can reveal potential scenarios for the future of the altcoins market capitalization... Let's take a look:
First let's notice the "support trendline" which is now in play. If this trendline is broken we can expect TOTAL2 to move lower and test the 0.786 Fib. retracement support level from the last bullish wave. Staying above this trendline can lead to a bounce up and test of EMA10 (79) followed by EMA50 (88).
We also have a falling wedge pattern and a neutral RSI.
Our main scenarios are drawn on the chart.
We believe TOTAL2 will grow in the coming months with potentially only one last strong drop left.
What's your take on where this index is headed?
Share with us in the comments section below.
Namaste.
Alt-Season coming! Sit on your belt before rocket launches!!!Hello traders and guys. Looking at the chart, Crypto Total Market is yet bullish!
Total MarketCap is tested Daily EMA50 line and bouncing up from EMA50 line and probably showing Inverse H&S as you can see in my chart.
However BTC Dominance was quite huge this year 2019 and now showing Rising wedge chart pattern.
Bitcoin is the king of crypto and the safest blockchain in the world. I believe it!
But then how about alt coins? Think what happened on Binance IEO coin BNB, ChainLink(LINK) and other major alts like ETH, BCHABC, DASH, EOS.
Alts was very bloody this year but alt season will be gone forever? Will BTC only survive in Crypto market? BTC can solve everything which have to be solved in crypto world's ecosystem?
I don't think so definitely! BLockchain still needs to be applied in many parts with proper ways. and there are better approach to solve this issue. Writing this article, I am still regret why I didn't launc ICO last year with my own idea. LOL Just a joke.
So to me, if alt season can come this year, Now is the moment to invest or setup a nice swing trading in alt coins. I think alts will grow quite much while BTC consolidating for a while.
I tried to choose some alts randomly, but seriously.
1. ETH
2. BNB
3. BCH
4. DASH
5. LINK
Good enough to give it a try with good entry!
Please leave comments!
Bitcoin Price vs. its Market Capitalization DominanceCorrelation Coefficient is a statistic measurement of correlation between two sets of data (of potentially any financial instruments) and shows the degree of relationship between them. It may help us to have a better understanding of market behavior. A few days ago, I came up with the idea of studying the correlation between Bitcoin (BTC) price in US Dollar ( BTCUSD ) and its Market Capitalization Dominance ( BTC.D ). So I made the setup chart and found something interesting. Bitcoin price sometimes has a very strong negative correlation with its Market Cap Dominance. In fact I'd better say that most of the time BTC has had negative correlation with its Market Cap Dominance. I think it is important and may lead us to have a better overview of how Bitcoin and other Crypto Currencies' (altcoins) market behave.
I searched Trading View for this subject and did not found any document related to this concept. If you know any documentation pertinent to this matter, please kindly let me know to include that in the proceeding research and analysis. I will update this study as research go on.
Appreciation for your attention,
Bitcoin is healing from the over speculation of Alts-Market recently over speculated on alts by greed and lack of understanding the nature of what a cryptocurrency is (2017)
-It damaged Bitcoin and severely lowered its market dominance
-Market seems to be readjusting the natural Bitcoin dominance
-Alts could have plenty more downside remaining, Bitcoin probably has a lot of juice remaining
-Punishment of the over greed and over speculative nature of alts, that attracted throngs of average joes
-If you think useless shitcoins having a hundred Million $ marketcap is normal, you will be trapped again
-Reverse = Alts/Btc bubble bursting
-Bear in mind that some alts are more resistant/stronger than some others, please do your own research
-Bitcoin is a strong nascent asset that punishes over bearish behaviour since 2010: wether people short it heavily, wether people over buy alts hoping to make money VS Bitcoin or even Usd, are punished.
Ciao!
Total Market Cap 7/30/2019 (Daily)I never post this chart but I took a look at it yesterday and decided to share my thoughts on crypto in general. This chart reminds me a lot of the BTC chart. Coincidence? Not really. Bitcoin is roughly 67% of the market. Therefore this chart should reflect that (and it does) Looking at the situation we have a descending triangle on this chart just like the BTC chart. I imagine if BTC sinks this chart will reflect that as well. The thing is BTC dominance is not dropping with the price therefore the money leaving BTC is not necessarily flowing into alts as some had hoped. If money were leaving BTC for alts dominance would drop and the market cap wouldnt be losing ground. But there is some good news in all of this for alt holders... With BTC going down your alts should go up in value in terms of sats. Not in USD though. Will we see "alt season"? Who knows? All I can tell you is what I see on the charts and from the looks of it the entire market cap is losing ground. Bulls better get it together.
CRYPTO MARKET CAP WITH AND WITHOUT BTCBoth seem to tell a completely different story at this time.
Without Bitcoin, we are now trending well below the EMAs which acted as support since the beginning of the year and we are now heading down.
With Bitcoin, we seem to be on support on top of the base channel, forming a structure which evokes a wave 4.
Hence the uncertainty in this market at this moment.
Bitcoin market cap dominanceAfter a bull flag sent Btc to its flag target, an head & shoulders just broke below its neckline
Alts in Usd are therefore now more susceptible to gaine value in $.
Btc could bounce on the pink Smma, which would be an Altcoin Usd sell signal, and a Bitcoin Usd strength continuation
ALTCOIN MARKET CAP - TOP ALTS READY FOR A MEGA PUMP? Altcoin Marketcap has been in a strong uptrend for quite some time now. After a much needed correction and a massive run in BTC, Top Alt bulls are all geared up for another leg up. Under such conditions, we feel alts namely BINANCE:ETHUSDT , BINANCE:LTCUSDT , BINANCE:BCHABCUSDT and BINANCE:EOSUSDT will be the first few to give BTC dominance a run for its money. The leg up is always sequential with 1st tier alts in the lead and 2nd and 3rd tier following, & we do not expect it to be any different this time. Meanwhile, a stable BTC above ~$11,500 will further strengthen the top alt run. We'll be frequently posting charts with exact trade levels.
Alt coins Market Cap (With example bitcoin) from current to HighAlt coins Market Cap (With example bitcoin)
Bitcoin have same structur (Bitcoin correction or flat) Altcoins go UP in 2016.
Maybe same scenario in 2019?
Maybe we will repeat the scenario of rapid growth of altcoins. Many have already lost faith in the Altcoins. Similarly, it was with the bitcon on the price of 3000-4000. Altcoins as you know, are about 300% behind Bitcoin. I remain optimistic about the growth of altcoins.