I have gone through many time-frames and it looks like BTC dominance will start to gain back its power over Alts. I have bookmarked the 23 hour chart for confirmation of when. Alts have about 1-2 weeks MAX of any growth against BTC.
The chart shows extreme oversold and completely stretched to the downside with the RSI MFI oversold for 6 weeks, while the stochastic RSI has been oversold stagnated below since Feb2021. The candle is way below the Linear Regression and has ridden the Bollinger band down quite alot.
My plan is to sell out of Alts gradually and sit on stable coins and cash, because even though BTC dominate will rise, the actually price of Bitcoin is overbought.
Sounds like you think the cycle is over. I agree, many cypto fanatics swear it can't be over until September so we will see. BTC looks similar to last peak in my opinion - broke trend line, volume peak, rsi peak, macd looks identical. Maybe a 2013 double peak repeat?
GlobalTrader_
⋅
@smallwood0507, 2013 double peak is what I have in mind. We still have time for gains right now, but safer to dollar cost average out and wait for a better time to get in
zcj3srdkqh
⋅
Guys, this time is different, people are seeing how capitalism and this monetary system is f***** up. There are people who buys into bitcoin because of revolution, and they are not selling it. And why to sell if your fiat currency goes down every year, and bitcoin no matter the dips, just keeps rising. I’m not going to sell, i’m going to buy it no matter the price. All my money goes to bitcoin, and it goes there because of revolution, and because I don’t want to support this cancer system which kills us humans and our money. So, stop trading and start believing in something bigger than few extra bucks in your balance which maybe rises 15-20% in the end of the year but inflation destroys that much very easily. Cause real inflation of asset are much bigger from those 2% that are told to society.