The moment you have been waiting for: alt season is finally here
Welcome!
A short (but powerful) analysis on btc dominance. What we are seeing now is very encouraging for all the people who either trade or invest in alts. I am confident that we are right before an altcoin trend reversal and here´s why:
1. from a simple market structure standpoint we now have a very clean set of lower lows and a confirmed lower high on a weekly time frame
2. secondly, my MAs have signaled a very good sell signal and since btc.d is now finding resistance of off them it implies that the continuation to the downside is likely
3. most importantly, from a classical MA perspective we have 1. closed below the 200 weekly MA 2. rallied back above it and then, and here is the key 3. failed to sustain the upmove and once again closed below it
4. also, we are trending below the mean of the bollinger bands and since they are constricting it implies a bigger move is coming - in this case it would be to the downside
It remains to be seen whether this is going to be just a short to mid-term alt season or if we are maybe, just possibly starting a multi - month, macro uptrend with alts.
Regardless, altcoins are the play to be making in the next couple of weeks in my opinion.
Feel free to follow me on Twitter as well as I post a lot of quality stuff there:
twitter.com/mansasuma
Take care.
A short (but powerful) analysis on btc dominance. What we are seeing now is very encouraging for all the people who either trade or invest in alts. I am confident that we are right before an altcoin trend reversal and here´s why:
1. from a simple market structure standpoint we now have a very clean set of lower lows and a confirmed lower high on a weekly time frame
2. secondly, my MAs have signaled a very good sell signal and since btc.d is now finding resistance of off them it implies that the continuation to the downside is likely
3. most importantly, from a classical MA perspective we have 1. closed below the 200 weekly MA 2. rallied back above it and then, and here is the key 3. failed to sustain the upmove and once again closed below it
4. also, we are trending below the mean of the bollinger bands and since they are constricting it implies a bigger move is coming - in this case it would be to the downside
It remains to be seen whether this is going to be just a short to mid-term alt season or if we are maybe, just possibly starting a multi - month, macro uptrend with alts.
Regardless, altcoins are the play to be making in the next couple of weeks in my opinion.
Feel free to follow me on Twitter as well as I post a lot of quality stuff there:
twitter.com/mansasuma
Take care.