Putting this all together, I am seeing the BTC dominance chart with strong momentum confirming to the downside. Looking at DASH USD, we find several indicators giving us an area of technical advantage. Historical volatility indicates a strong move (direction not implied here) incoming. With an upward sloping slow stoch indicator on the 2HR, we can see that a...
One of the stronger alts currently, DASH in a bullish accumulation after some strong pumps. Daily golden cross confirming as long as there is no disaster red candle. First target to upside at around 136, coinciding with 1.68 fib extension from previous local high, which also corresponds to some historical S/R.
Pullback will be expected (like target of 4HR 200...
Keep it simple and follow the price action. Focusing on the 4hr BTC / USD chart, price action is following the activity seen at the end of 2017.
What I am watching is the price action once BTC regains support on the 4hr 25MA. The 25MA carried BTC up to a retest of the yearly high in 2017.
If price action follows, I would expect the next following...
RSI indicators + support line indicating possible incoming move to 8750 region. Which would be a natural reestablishment of strength to continue moves >9K.
The last time the Weekly 21/50/100 EMA were bound so tight was 2016.
Total crypto market cap (exclude BTC) is riding a positive trendline with in increase in volume.
Trend in terms of total market cap and BTC activity would suggest an upward breakout. If so, history would indicate the breakout to be both significant and prolonged.
Taking a look at long term altcoin movements and comparing current trends to historical movements, we appear to back in an accumulation zone.
Overall it appears..
Short term bounce off the middle of the accumulation zone (consistent with BTC current downtrend)
Mid term alts "suffer" in the accumulation zone until BTC finished its current run.
Considering so...
BAT / BTC unlike many/most altcoin charts, appears to be building some slow but steady bullish divergence.
Room to come down in very near term but conservative target of 150% gain vs BTC by Christmas.
Keeping it simple and following price action, I'm going to focus on the 4hr chart from December 2017 in similarity to current price trends.
Once a 30% correction (bear trap) is initiated, and then regains the 25MA, BTC rides the wave up to a retest of recent highs.
Based on this idea, the following are potential price targets:
12k
12,9k
13.8k
BTC dominance exhibiting markedly bullish structure.
Alts/BTC trading positions on the short time frame intervals which awaiting a decision point.
Anticipate this move to coincide with July 7th close.
If I were to trade this setup, I would have a hard time betting against the strong bullish trend of BTC.
BAT USD value holding steady at low 30c range without a bearish close even in the face of BTC ripping upwards. I think BTC shorts are getting exhausted and BTC will correct quite soon, lending to a nice jump vs BTC, fueling an alt rally. However, I expect the general trend of BTC to continue, holding a relatively high USD value and allowing alt values vs USD to...
BAT experienced a huge breakout earlier this year, only to retest and fail at the top level of 18 month resistance turned support. BAT has been battering peak breakout buyers since its ICO, while also enabling tremendous opportunity for accumulation. Fundamental development has great outpaced the market and price action. Looking towards a longer timeframe, I...
