BTC.D/TOTAL Painting A Clear Picture
This has arguably been the most consistent correlation (BTC.D/TOTAL) when it comes to understanding where the price is going for both BTC/Market Cap and I've yet to see anyone else mention it.
The magic 40% on the BTC.D chart is where we are focused. That bottom support has systematically proven to be an indicator of the downside ahead. It is currently 5 for 5 on accuracy.
Usually, when the market is strong, BTC gets the main flow of money into it as both Smart and Dumb money ride the wave up. Then once Smart Money hits their target, they begin to take those profits from BTC and flow it into Alt's. Well, since BTC has bounced off support at roughly $32,000 - we have seen the exact opposite.
Im seeing a lot of "Explosive Alt season", but my question is, at what cost does this come?
Now the question currently is if it actually makes it that low again for the 6th time.
Here I have labeled the exact events that transpired at specific points.
This is a Macro view of where BTC and Market Cap currently are and coincidentally they are both in arguably the most important channels in this cycle and the last cycle that topped in 2018;
Bitcoin:
Total Market Cap:
Hope this helps!
The magic 40% on the BTC.D chart is where we are focused. That bottom support has systematically proven to be an indicator of the downside ahead. It is currently 5 for 5 on accuracy.
Usually, when the market is strong, BTC gets the main flow of money into it as both Smart and Dumb money ride the wave up. Then once Smart Money hits their target, they begin to take those profits from BTC and flow it into Alt's. Well, since BTC has bounced off support at roughly $32,000 - we have seen the exact opposite.
Im seeing a lot of "Explosive Alt season", but my question is, at what cost does this come?
Now the question currently is if it actually makes it that low again for the 6th time.
Here I have labeled the exact events that transpired at specific points.
This is a Macro view of where BTC and Market Cap currently are and coincidentally they are both in arguably the most important channels in this cycle and the last cycle that topped in 2018;
Bitcoin:
Total Market Cap:
Hope this helps!