When altcoins season is going to start?
But so far on we can see total altcoins market cap is struggling a lot against 100ma and 125b level and failing to break them.This means we shouldnt be surprised if altcoins market cap drops below 100b next weeks. Some retracement after those weekly closes is very likely to happen.
Yes Ethereum has strong bullish fundamentals and his chart is also bullish and he should grow up in USD value. But as we can see there is a probability that bitcoin will grow faster and ETH/BTC pair drops.
Target of that orange triangle is 71-72 zone, its also strong historical resistance level, also bitcoin dominance should meet ma200 here. Summarising all that we can expect some solid retracement of bitcoins dominance from this 71-72 zone. Since while previous bitcoin dominance correction was going alts were showing some strength, when bitcoin retraces from 71-72 zone we can probably expect alts to go up as well.
And this idea is explanation to subscribers why Im not posting a lot of binance altcoins signals as of yet.
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Summarising all above the best variant in my eyes is not to trade altcoins yet, but to trade bitcoin on bitmex to accululate more bitcoins before next bitcoin strong upward move above 14000.
As of altcoins we need to see thier downtrend reversal to start buying them in deeps.
I will update this idea when there will be reasons to start buying altcoins.