Alts are in a much stronger position than many believe. Taking a macro view of BTC.D and Alts reveals BTC.D struggling to rise above the midline in a progressively tightening range while Alts enjoy being at the top of the range waiting for a breakout. BTC is being met with resistance, both from the midline but especially at the 64.25 level where the VPVR sits. BTC.D hasn't broken above it's upper boundary since JUJY 13, 2017!!! Alts are getting ready to do just that being way above support from the VPVR sitting at 6.67 and other levels. Expecting a nice breakout above the upper (and last) resistance line at 12.07 and continuing on to the ATH resistance at 12.58, confirming the inverse H&S pattern it's started on the WTF along the way with a right shoulder candle close above 12.18 to break neckline. That is an impressive 'V' shaped pattern showing a great deal of strength. It's only a matter of time until Alt season is in full swing and as strong as it will be I have no doubt we'll see many coins with 1000% or more gains. Enjoy it while it lasts. We are rapidly heading into uncharted territory, exciting times ahead!!! Alts ATH awaits!
I don't agree with this statement at all. Spare a few alts who are mooning and never mooned before, you can't lump all alts into this one paragraph summary. Most alts are at lower prices when Bitcoin was at it's own lower pricing. For example Ocean was at 1.6 when BTC was four thousand dollars lower. ADA is a disaster and many other ALTS have been chipped down.
BelowZero
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Another very interesting ALT study. I like everything about it.
It certainly looks like the alts are coming in great strength.
Thank you also for pointing out the critical levels, so we can watch those in the next weeks.
Kudos.
@TradeClass, i agree. Others.d is close to ath, btc.d looks ready to burst back to 70% level. Wich it will do if BTC goes to 70k. Doesnt look too good for alts to me. The main reason we had 1000% alts back in 2017 was because everyone had btc and some eth and there was just not that much money in alts. Things are way more balanced right now
cryptobullethbtcxlm
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best analysis ive seen a while and i totally agree... btc will keep going for new ath's but will move sideways in a volatile way... interesting point we are at... i do not believe market makers wanna dump with this double top unless they have great institutional interest and wanna bear trap the market... i still expect at least a slightly higher ath which will calm the market... i see crazy bears and crazy bulls... what i know for sure; this bull run is not over... and btc never had such a strong usecase with this wave of inflation coming... if funds really think yields will outperform inflation they are very well informed