The chart is the inverse of BTC dominance.... aka alt dominance. It looks like we are setting up for a surge in alt coin dominance. At the very least we will be seeing some upward pressure due to what we are seeing in the 4day time frame. If the upward pressure leads to a substantial increase in alt coin dominance then this may snowball into a full blown "alt season"
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Same chart
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similar set up as present day and it ended in finding bottom. Although alts were just beginning so its hard to say how compare it is to present day in that aspect.
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here is present day. It seems like we may continue going relatively sideways for the time being... this means alts can go up some but for a true alt season I'm thinking we will need to see a stronger reversal as described in the chart
@Gaengphed,
Looking like Eth may lead the way then let other alts run their course. Which makes sense if you think about it.
Gaengphed
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@beastedz, I like it that you're putting the 'Ward-method' to work. He's one of my favorite publishers of idea's.
beastedz
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@Gaengphed,
Indeed. After seeing how accurate his calls were I figured I better learn the methodology myself!
Now I try to make publications here and there to help others and also to further my own understanding.
Im not 100% sure how well it will work with altcoin/btc dominance as there is very little history of the data. I'm thinking it will prove itself very useful tool in the future to help determine when to focus on btc and when to focus on alts. The biggest alt runs were when btc dominance was "crashing" although it becomes a question of whether this is the cause or the other way around...
The trick will be if we can predict the btc dominance crash or alt coin dominance pump ahead of time to make sure we ride the waves of btc for max gains before getting into our alt positions.
Gaengphed
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@beastedz, Predicting when to swap back and forth between ALTs and BTC would be really nice! I've missed the train, actually both trains, during the last cycle. So I'm sticking to my plan stacking ALTs monthly and wait for ALT season to arrive. For now that is the easiest I believe.
Will come back to this idea to check how it goes ;-)
Cheers!
beastedz
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@Gaengphed, We will see what happens. It looks like we are going to need to wait for the energy in the 8d to exhaust to really get things going.
linkmarine420
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Interesting TA. Haven't seen anyone use the inverse of BTC.d before. Nice!
JamesBornal
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will keep track of your idea. please write news about cancelling or confirming the longitude by alts
beastedz
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@JamesBornal,
Good to know my ideas are getting some views. I'll keep it updated accordingly.