note:the pink vertical line is 5th of each month, from left to right from 2017 Nov- 2018 June
what to tell from the yellow box 1?
1. Purple lines to divide zones:
BTCUSD was initially moving in between the purple area.
but from early Nov 2017, it headed up to the zone above the purple line.
2. History repeats
The similar thing of changing zone is much likely to happen in 2018 April to June: from below lower-purple line to in between two purple lines.
3. BTCUSD influence on Altcoins
when BTC is in its initial purple zone and with stable healthy growth in Nov 2017, the whole market has been positive and most Altcoins had its market healthy growth.
when BTCUSD suddenly changed zone with big up price movement. many investors sold altcoins to chase btcusd rise. it caused blood in almost all altcoins during Dec 5/6 to 19/20.
after the peak of btcusd around 2017 Dec 15, btcusd moved down but continued to consolidate above the purple line. and that was the time for another altcoins ATH around Dec 25- Jan 5.
when BTCUSD can't break out from the resistance and failed to hold above the purple line, that's when the whole crypto market came into correction.
Q: if history repeats, when will be the key time?
From the trend prediction, I think we are now at stage 1 when altcoins have started their movement up and BTCUSD is now out of the trend line resistance.
altcoins's big wave 1 might be completed around May 5/12. around similar time BTCUSD will be heading for higher. the might be the time for stage 2.
if BTCUSD reaches back to ATH price(very likely). it would have a retracement.
- if after retracement, the movement can hold above
the thick purple line.
then BTCUSD will enter a new era(between 2 purple line).
this will be starting of another boom move.
otherwise, it will be coming down back below the lower-purple line. then that will be another corrective time for the whole crypto market.