How to compare other coins to BTCAn easy way and using a single chart to compare multiple coins to Bitcoin is by using the "+" button next to the Symbol input.
It quickly shows us which coins outperformed BTC in the past weeks/days and is a good indicator of how good altcoins are performing.
I added the top market cap coins that showed good results and the winners are SOL, AVAX and BNB. To my surprise, ETH is pretty even with BTC.
A new challenger that rose up within just a month is TON which market cap went up 185%.
BTC trade ideas
Inverse Chart - Psychological Trading BiasLooking at an inverse chart flips the price axis, so up becomes down and vice versa.
This can theoretically help some traders detach from their inherent bullish or bearish bias and focus purely on price movements.
For example, a trader who is naturally more bullish might find it easier to identify potential shorting opportunities by looking for bullish signals on an inverse chart (which would translate to bearish signals on a regular chart).
Inverse charts can be a useful tool, to view them type 1/ in trading view. Just like the chart example: 1/BTC
As we can see with the chart, there is strong resistance highlighted by blue circles, this would have marked a good time to take profit in the market and look for lower entries. Opening a short would also have proved profitable at those points.
Note: Inverse charts are not perfect, they require technical analysis skills and employ zero fundamental analysis tools. It's simply another tool you can add to your trading toolbox.
Possible EW count $BTC Expanded Flat CorrectionWe have a 3 wave move down from SWB:69K and then another 3 wave move back up that takes the high. Currently rejected at the 1.05 (~$1.35T), but count is valid up to the 1.382 (~$1.68T).
Final leg is a 5 wave move back down that takes the previous low. If valid, BTC likely bottoms between 300B and 100B.
BTC Bitcoin BullishLooks like we are about to gain another $200billion in BTC marketcap. Currently sitting at !.022T
Also BTC dominance is falling, means the alt-season is around the corner.
I hope you packed well and HODLING your alts. My opinion BTC soon will start moving sideways or even do some correction giving steam to alt coins, and then we fly altogether.
~ GETTEX:54K BTC should liquidate Billions worth of shorts.
BTC/ALT POTENTIAL FURTHER DOWNSIDE Will we see further retracements in BTC (blue) and the ALTs (yellow line shows alt market cap minus BTC and ETH) before or around the halving? The green line allows us to look back 4 years to the previous bull cycle and pinpoint price action/market structure changes. Of course, looking at previous price action and market structure doesn't always have a high degree of predictive power, but it can act as a guide to temper your emotions and prepare for outcomes that may go against the current sentiment. And patterns do repeat. Again and again... ad infinitum....
Following this technical analysis (which of course may not materialise) on the logarithmic scale, we would see a drop, in market cap, of 30%, in BTC to the trend line...and circa 50% in the ALTS (not including ETH) to its respective trendline. If ETH is included (not shown) with the ALTs, then ALTs would see a 20% drop to the respective trendline. If this does materialise, then this would likely form the foundational strength for the next bull run through 2024/2025.
BTC/USM2 Monthly SuperTrend IndicatorBTC/USM2 money supply chart is typically more accurate to identify key price action than BTC/USD - 1st monthly candle to flip Supertrend line green on Monthly timeframe. Also punching through Ichimoku cloud…will history repeat and Bitcoin goes sideways for the next year ? Or will ETF continue price action straight up? Maybe 2024 will gift us a black swan to scoop up more cheap sats in a flash…