The dominance chart is one of my favourite charts because it pretty much dictates where all the alts are going. BTC has had an AMAZING run since last December, and now its time for alts and BTC to dip. The support level that is tapping and has yet to hit (should hit in the next couple of days or so) is the same of 2018, The second tap usually signal an inversion of the dominance trend, and makes alts bleed.
At the moment BTC has broken the 9 and 21 EMA lines is testing the 50 EMA on the daily time frame, and should be retesting the 200 EMA support on the 4h chart. If the dominance increases in confluence with the BTC dip, it will make last dip look like a walk in the park. Also September is usually a bad month for crypto.
In my opinion we should have one last pump and then we are done with the bulls until the next halving as markets should resume the dip for the next couple of years or so.
So my prediction is short term is Bullish for the next couple of day, long term Bearish.
All my alts which I bought in MAY of this year not reached even on its Buy price what to do?
El_Morenito
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@ATH_Buyer, I am not qualified to provide financial advice, but i can tell you wjat i did when that happenned to me in 2018. I put the ones i was bullish on getting interest in staking and pools, the others i swapped for btc and rebought at lower levels. not financial advice, just sharing the experience.
Another thing you could do is stop buying ATH and start buying ATL. :-)
ATH_Buyer
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@El_Morenito, Thanks for advice even I am thinking same I will compromise with this loss and try to cover loss with remaining fund.. when I bought them and stuck with higher price that's why I choose username ATH_buyer XD
El_Morenito
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@ATH_Buyer, one thing that helped mt to partially recover was to start deveoping strategies, there tons of videos on youtube on really profitable ones, My favourite at the moment is EMA's combined with RSI support trend MACD and Bollinger Bands. Ichimoku is pretty cool too for an overall view.
@ATH_Buyer DASHUSD LTCUSD May make a bull run soon
bzwhaleshark
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this prediction is just plain wrong. alts bleed when dominance drops? HUH??? alts rally when dominance drops, where do you think the moneys going? LOL... Go back to crypto school nostrildamus.
El_Morenito
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@bzwhaleshark, I'm actually saying the opposite,that BTC.D will increase and that alts will bleed on the long term. you should learn to read first before sharing with the internet the experience of having you in an online community.
st9pkun89p
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Good analysis I can’t wait bear market is a lot calmer and easy trade ranges now YouTubers scamming people telling golden cross coming when we already did 2000x on most altcoins it’s 2018 all over again.
El_Morenito
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@st9pkun89p, Thanks! cant say im eager for a bear market with bear traps, false signals huge drops out of the blue. and 3-5 days to make 10%, but we'll see how it rolls.