Over the months this 3-day chart has been very powerful for me. Think it is about time I shared it.
Over the last several weeks I’ve been selling my Bitcoin into various Alt-coin positions. It almost does not matter which, a rising tide lifts all boats to coin a phrase. My reasons for doing so is almost exclusively because of the this chart. Take time to study it.
This chart is showing you the ratio in dominance between Bitcoin and Alt-coins. So what’s going on?
1) Dominance between Bitcoin and alt-coins has been exchanging support and resistance in the above channel (between the orange lines).
2) Price action at the bottom of the channel is a superb time to get exposure to alt-coins.
3) Price action at the top of the channel was a superb time to sell those Alt-coins into BTC.
4) 204 days - peak to peak was 204 days in Alt-coin market tops. I don’t know why. The next peak in Alt-coins in Bitcoin terms is around Mid-June.
5) We can see Alt-coin dominance is about to test the 21-week moving average (green line), probably after Bitcoin makes another move up above $20k.
6) The ‘Oversold / incredible buy’ condition (orange column) on the above 3-day chart tells us we are at the bottom.
7) Money Flow Index (MFI - bottom oscillator) resistance was recently broken.
Questions? Just ask below ;)
Over the last several weeks I’ve been selling my Bitcoin into various Alt-coin positions. It almost does not matter which, a rising tide lifts all boats to coin a phrase. My reasons for doing so is almost exclusively because of the this chart. Take time to study it.
This chart is showing you the ratio in dominance between Bitcoin and Alt-coins. So what’s going on?
1) Dominance between Bitcoin and alt-coins has been exchanging support and resistance in the above channel (between the orange lines).
2) Price action at the bottom of the channel is a superb time to get exposure to alt-coins.
3) Price action at the top of the channel was a superb time to sell those Alt-coins into BTC.
4) 204 days - peak to peak was 204 days in Alt-coin market tops. I don’t know why. The next peak in Alt-coins in Bitcoin terms is around Mid-June.
5) We can see Alt-coin dominance is about to test the 21-week moving average (green line), probably after Bitcoin makes another move up above $20k.
6) The ‘Oversold / incredible buy’ condition (orange column) on the above 3-day chart tells us we are at the bottom.
7) Money Flow Index (MFI - bottom oscillator) resistance was recently broken.
Questions? Just ask below ;)
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I know it might not feel like it - but at this time as BTC dominance is very overbought, fear in the alts is high and selling pressure is relentless, now is an amazing time to get exposure to alts. Buy into the fear. When BTC.D falls the Alt-coins market must go up.. simple as that.
Here is the recent overbought areas on BTC.D dominance (Green columns) 1-day chart:
The 1st one on November 6th.
What happened to the alt-coin market capital from that date? A +50% move.
Here is the recent overbought areas on BTC.D dominance (Green columns) 1-day chart:
The 1st one on November 6th.
What happened to the alt-coin market capital from that date? A +50% move.
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Most people looking at this will probably think to themselves the alt-coins are dead as Bitcoin zooms to 100% dominance. This is simply not true.
I see a catapult being pulled back further and further. A number PM's from folks fretting about the slide in alt-coin dominance, don't worry. The rotation into the Alt-coin market from such a pullback will be something we've not seen before - be patient.
I see a catapult being pulled back further and further. A number PM's from folks fretting about the slide in alt-coin dominance, don't worry. The rotation into the Alt-coin market from such a pullback will be something we've not seen before - be patient.
Comment:
Well done if you're still holding onto your alt-coin positions, you're about to be rewarded and then some. Give yourself a huge pat on the back. It is not easy watching the market bleed into Bitcoin.
The 3-day chart below has printed a new candle. A Dragonfly DOJI indicating a strong rotation is about to occur from Bitcoin to the alt-coin market.
Before I said the further alt-dominance falls the stronger it rises, as if a catapult being pulled back further and further. I'm looking for this run to last until April before we start thinking about rotating into Bitcoin.
Leave a message below if you have questions.
The 3-day chart below has printed a new candle. A Dragonfly DOJI indicating a strong rotation is about to occur from Bitcoin to the alt-coin market.
Before I said the further alt-dominance falls the stronger it rises, as if a catapult being pulled back further and further. I'm looking for this run to last until April before we start thinking about rotating into Bitcoin.
Leave a message below if you have questions.
Comment:
Just a quick update as someone below correctly observed a break in market structure with the printing of a lower low in dominance. Normally this is negative for sure. A trend is your friend.
On the positive side there is a regular bullish divergence between dominance and the oscillators, which follows the recently printed Dragonfly DOJI candle.
The Money flow index remains under resistance (bottom oscillator) @ a value of 16. This is ridiculous - normally this would represent an 'incredible buy' with spot. The resistance can remain active until around January 21st at latest. It has to break resistance by then!
On the positive side there is a regular bullish divergence between dominance and the oscillators, which follows the recently printed Dragonfly DOJI candle.
The Money flow index remains under resistance (bottom oscillator) @ a value of 16. This is ridiculous - normally this would represent an 'incredible buy' with spot. The resistance can remain active until around January 21st at latest. It has to break resistance by then!
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Already we've seen seen a few alt coins take off. Two to two and halve months of this of this is likely, in Bitcoin terms, to continue to see the alt-coin market dominance climb.
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Fantastic - the last 3-day candle closed on the yearly moving average (blue line). Expectation here is for a week or two of consolidation. Following that we should see amazing gains for alt-coins. A strategy going into this alt-coin run that has served me well in the past:
1) The fewer coins you hold the more you will make. (follow me for the most bullish ideas I'm finding).
2) Rotate into BTC (or even ETH) when this chart above becomes overbought - I'll keep it updated but if not remind me below.
1) The fewer coins you hold the more you will make. (follow me for the most bullish ideas I'm finding).
2) Rotate into BTC (or even ETH) when this chart above becomes overbought - I'll keep it updated but if not remind me below.
Comment:
3-day chart is printing DOJI candles - super fantastic.
The countdown to rotating into Bitcoin has begun. ~2-months from now we start taking the Satoshi gains from the alts to buy Bitcoin.
The countdown to rotating into Bitcoin has begun. ~2-months from now we start taking the Satoshi gains from the alts to buy Bitcoin.
Comment:
Just a quick update to above comment as some sharp eyed folks have already asked the question! The expectation is alt-dominance will see resistance at the upper channel. That is one outcome.
Another is we break through (this is the 3rd test of resistance), just like we broke the bottom during Bitcoin's explosive run.
IF a big IF, the top is broken and back-tested as support, we're going to see something we've never seen before. Time will tell.
Another is we break through (this is the 3rd test of resistance), just like we broke the bottom during Bitcoin's explosive run.
IF a big IF, the top is broken and back-tested as support, we're going to see something we've never seen before. Time will tell.
Comment:
Inverse head and shoulders pattern emerging. The rally in alts is just beginning.
Comment:
45 days of amazing gains in the alt-coin market ahead.
I don't know what will happen by the end of March. The expectation is a heavy correction. However if the upper resistance is broken... something we've not seen before could take place.
Until then be patient and hold - ignore the daily swings in price action - they are irreverent.
I don't know what will happen by the end of March. The expectation is a heavy correction. However if the upper resistance is broken... something we've not seen before could take place.
Until then be patient and hold - ignore the daily swings in price action - they are irreverent.
Comment:
It is possible the alt-coin market might cool off all those amazing gains creating / completing that inverted head & shoulders pattern below.
That would suggest Bitcoin dominance will increase, which in turn suggests a major move in Bitcoin price (up or down - both possible).
That would suggest Bitcoin dominance will increase, which in turn suggests a major move in Bitcoin price (up or down - both possible).
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Ready for round 2? Alt coins about to go ballistic.
The thick blue line is significant. It marks previous resistance / alt-cycle top in May 2017. It has just become support !!
Today:
May 2017
The thick blue line is significant. It marks previous resistance / alt-cycle top in May 2017. It has just become support !!
Today:
May 2017
Comment:
The alt-coin market total is once again testing the Mayer multiplier (red line) upper band. 2+ long years we've been waiting for a break of this level.
What can we expect if it breaks? This:
What can we expect if it breaks? This:
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Stochastic RSI prints a higher low on the 3-day chart below crossing up 20 (circled in orange). Fantastic, if you're holding alt coins.
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Charts 2 & 3 (March 19th) above show the progress the alt-coin market total is making testing the upper Mayer Multiplier band. Have a quick read of them before looking below.
We can now see the alt-coin market total has broken through this upper band on the chart below. Fantastic. Now price action is testing the upper band as support, if this is confirmed + support on 21-EMA as it crosses the band as before in 2017, then the conditions for a 2017 alt-coin run are matched.
Confirmation will be resolved within the next 5-7 days.
We can now see the alt-coin market total has broken through this upper band on the chart below. Fantastic. Now price action is testing the upper band as support, if this is confirmed + support on 21-EMA as it crosses the band as before in 2017, then the conditions for a 2017 alt-coin run are matched.
Confirmation will be resolved within the next 5-7 days.
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Alt-coin super cycle confirmed!
Price action came down to test support and bounced hard, $165 billion dollars was added to the alt-coin market in a few short days since the test.
Now we hold our alts with both hands until a bearish signal appears.
Price action came down to test support and bounced hard, $165 billion dollars was added to the alt-coin market in a few short days since the test.
Now we hold our alts with both hands until a bearish signal appears.
Comment:
Kaboom - for the 1st time ever the alt-coin market has hit the $1 trillion mark.
The following trillions should come more easily after the first.
The following trillions should come more easily after the first.
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Alt-coin fans, fasten your seat-belts. The Altcoin market breaks through the $1 trillion mark for the 2nd time @ the same time the market total finds support on the upper Mayer band.
If you find yourself sitting on a token that has gone 'Dogecoin' in the weeks ahead, take profits. Don't buy into the 'new paradigm' nonsense. Remember why you entered this game in the first place. There will always be an abundance of opportunities.
If you find yourself sitting on a token that has gone 'Dogecoin' in the weeks ahead, take profits. Don't buy into the 'new paradigm' nonsense. Remember why you entered this game in the first place. There will always be an abundance of opportunities.
Comment:
PS: in the above chart circled in Cyan is the Stochastic RSI, when it crosses up 20 (into the purple region) in the days ahead, it'll mark the start of the run.
Comment:
PPS:
Alt-coin market dominance has broken through the upper channel. The alt-coin market is about to do something we've not seen before!
Alt-coin market dominance has broken through the upper channel. The alt-coin market is about to do something we've not seen before!
Comment:
2nd attempt failed! 3rd time lucky...
Trade active:
Wow - the scenario discussed by others below 'what if upper resistance line becomes support?' To which I replied 'then we'll see something we've not seen before, not since 2017'. Well, we're seeing it. BTC dominance is about to fall off a cliff.
Make the most of the month of May everyone, these opportunities don't come often. Although you might see your alts continue to rise in dollar value in the month of June / July, there's a good chance they are falling in the ALT/BTC pair, that's where you should consider taking alt profits and swapping them into BTC.
BTC will top around early August between $100-115k. Take the profits, sit in a stable coin paying interest until Autumn comes.
Make the most of the month of May everyone, these opportunities don't come often. Although you might see your alts continue to rise in dollar value in the month of June / July, there's a good chance they are falling in the ALT/BTC pair, that's where you should consider taking alt profits and swapping them into BTC.
BTC will top around early August between $100-115k. Take the profits, sit in a stable coin paying interest until Autumn comes.
Comment:
Following on the idea 'what happens when the upper resistance channel is broken' followed by 'then we'll see something we've not seen before...'
There is now remarkable evidence for what will happen, a dominance target of 90%.
There is now remarkable evidence for what will happen, a dominance target of 90%.
Comment:
Alt-coin market dominance has reached a critical level (chart below). The last time alt-coin market dominance enjoyed 60% of the market share was back in January 2018. We know what happened to our alt positions after this time.
At the present time Alt-coin market dominance is overbought (green column) with RSI at 90. Before panic sets in, I’m not saying alts are about to crash in fiat terms, if Bitcoin grows so will the alts. However if you are holding an alt-coin overbought in Satoshi value (not many alts are but certainly a number are dangerously overbought such as Dogecoin, Ethereum, ADA, MATIC for example, their dollar value will remain buoyant no doubt, but very likely bleed satoshi value as dominance starts its correction wave from 3-4 over the next handful of weeks / months.
When wave 3-4 correction? Mid June to mid July. Be eagle eyed until then on your alt positions.
Something else that’s interesting is the Elliot wave structure to alt-dominance. Recently I posted an idea of Alt-market dominance breaking out to 90% during this market cycle (above chart in previous post). There’s mounting evidence to support this idea. I believe a wave 5 in the current Elliot wave structure will take us there by the year end. It will be amazing. A bear market will follow this time, hopefully not as long as the previous.
Questions - please ask. Ideas? Please share!
WW
3-day dominance chart
At the present time Alt-coin market dominance is overbought (green column) with RSI at 90. Before panic sets in, I’m not saying alts are about to crash in fiat terms, if Bitcoin grows so will the alts. However if you are holding an alt-coin overbought in Satoshi value (not many alts are but certainly a number are dangerously overbought such as Dogecoin, Ethereum, ADA, MATIC for example, their dollar value will remain buoyant no doubt, but very likely bleed satoshi value as dominance starts its correction wave from 3-4 over the next handful of weeks / months.
When wave 3-4 correction? Mid June to mid July. Be eagle eyed until then on your alt positions.
Something else that’s interesting is the Elliot wave structure to alt-dominance. Recently I posted an idea of Alt-market dominance breaking out to 90% during this market cycle (above chart in previous post). There’s mounting evidence to support this idea. I believe a wave 5 in the current Elliot wave structure will take us there by the year end. It will be amazing. A bear market will follow this time, hopefully not as long as the previous.
Questions - please ask. Ideas? Please share!
WW
3-day dominance chart
Comment:
Lots of fear and panic - myself included am only human after all. The important thing here is emotion is not relevant, only facts.
The Heikin Ashi candle during times of volatility is an interesting candle structure to study. It takes average price movements into consideration making trend changes readily identifiable.
On the 1-day chart below we see the upper Meyer Multiplier (red line) being tested as support. Today’s candle is showing strong support on past resistance, evident of the tail. However we need a close before we can be certain.
Long tails on Heikin Ashi candle are important indicator of a probable trend reversal - I’ve circled recent past events in orange.
Keep calm and carry on.
WW
The Heikin Ashi candle during times of volatility is an interesting candle structure to study. It takes average price movements into consideration making trend changes readily identifiable.
On the 1-day chart below we see the upper Meyer Multiplier (red line) being tested as support. Today’s candle is showing strong support on past resistance, evident of the tail. However we need a close before we can be certain.
Long tails on Heikin Ashi candle are important indicator of a probable trend reversal - I’ve circled recent past events in orange.
Keep calm and carry on.
WW
Comment:
Youtube / Reddit - full of folks “Alt-coin season is over”
Maybe.. but rather than relying on hyperbole I prefer study the chart and look left.
1st - The 3-day chart this idea started off with. It is below, just zoomed out a little. Looking left it should be no surprise alt-coin dominance received resistance when hitting the previous high of January 2018.
2nd - The Elliot wave count. We have completed waves 1 through 3. Wave 4 is underway, which I believe is back-testing past resistance. That resistance would be the upper band of the original channel.
3rd - “What happens if the upper channel is broken?” Then we’ll see something we’ve not seen before. That was my reply to a comment below. I believe once Bitcoin finds its legs with some increase in dominance between now and Mid-June we’re going to see wave 5 of the alt-coin season. Don’t panic sell out of your positions - hold fast, the best is yet to come.
4th - I believe we will see alt-coin market dominance reach 90% as per 2-monthly chart shared above. It will be fast, euphoric, emotional and you’ll believe Bitcoin is now dead. Secure your profits!
Maybe.. but rather than relying on hyperbole I prefer study the chart and look left.
1st - The 3-day chart this idea started off with. It is below, just zoomed out a little. Looking left it should be no surprise alt-coin dominance received resistance when hitting the previous high of January 2018.
2nd - The Elliot wave count. We have completed waves 1 through 3. Wave 4 is underway, which I believe is back-testing past resistance. That resistance would be the upper band of the original channel.
3rd - “What happens if the upper channel is broken?” Then we’ll see something we’ve not seen before. That was my reply to a comment below. I believe once Bitcoin finds its legs with some increase in dominance between now and Mid-June we’re going to see wave 5 of the alt-coin season. Don’t panic sell out of your positions - hold fast, the best is yet to come.
4th - I believe we will see alt-coin market dominance reach 90% as per 2-monthly chart shared above. It will be fast, euphoric, emotional and you’ll believe Bitcoin is now dead. Secure your profits!
Comment:
Where are we? There’s bullish and there’s bearish.
The bearish:
On the 3-day chart price action is clearly forming a head and shoulders type pattern. If confirmed there’s scope for a 56% correction to alt-coin prices. It would be easier to be bearish were the Stochastic RSI overbought. The fact is Stochastic RSI is oversold and has been since mid-April.
The bullish:
Digging a little further I’ve been asking myself the question, is there any evidence for money flowing from high to low market capital projects? Short answer: Yes.
The 3-day chart below is the dominance sum of all alt coins with Ethereum, ADA, and Dogecoin removed (projects all overbought in my opinion but that is another story, I’m interest in 10-50x returns rather than 2-4x).
We can see an oversold condition with higher lows. In summary the chart is telling us dominance is flowing away from the large market capital projects to the smaller ones.
The bearish:
On the 3-day chart price action is clearly forming a head and shoulders type pattern. If confirmed there’s scope for a 56% correction to alt-coin prices. It would be easier to be bearish were the Stochastic RSI overbought. The fact is Stochastic RSI is oversold and has been since mid-April.
The bullish:
Digging a little further I’ve been asking myself the question, is there any evidence for money flowing from high to low market capital projects? Short answer: Yes.
The 3-day chart below is the dominance sum of all alt coins with Ethereum, ADA, and Dogecoin removed (projects all overbought in my opinion but that is another story, I’m interest in 10-50x returns rather than 2-4x).
We can see an oversold condition with higher lows. In summary the chart is telling us dominance is flowing away from the large market capital projects to the smaller ones.
Trade active:
Ready for the final boom?
This is the 2-week chart, a textbook dragonfly DOJI was just printed following the sell off on the alt-coin market total. And on top of the 21-week EMA. Look left.
What is rather remarkable about this signal is how well the oscillator values of the present day are matching those of the sell off prior to November 2016. (Circled in green).
This is the 2-week chart, a textbook dragonfly DOJI was just printed following the sell off on the alt-coin market total. And on top of the 21-week EMA. Look left.
What is rather remarkable about this signal is how well the oscillator values of the present day are matching those of the sell off prior to November 2016. (Circled in green).
Comment:
Time to look left…
On the 3-day chart below stochastic RSI crossed down 80 (red shaded area) on April 22nd to under 20 by May 28th and then crossed back up 20 just recently providing a very strong indication of where money is flowing.
It is official, Stochastic RSI crossed down 80 75 days ago and has only recently crossed up 20 for one of the longest periods in the alt-coin market history. You have to go back to the summer of 2016 to get anywhere close to this length with a period of 69 days. Or the summer of 2015 for 73 days.
Circled in green are the 20 cross ups - look at what happens to price actions after extended periods of oversold.
We’re now entering the final phase of the bull market, wave 5. I’ll update when this top is reached. Most alt coins are oversold by 70-80%, fear is reaching boiling point. Don’t be this guy:
www.youtube.com/watch?v=TRXdxiot...
On the 3-day chart below stochastic RSI crossed down 80 (red shaded area) on April 22nd to under 20 by May 28th and then crossed back up 20 just recently providing a very strong indication of where money is flowing.
It is official, Stochastic RSI crossed down 80 75 days ago and has only recently crossed up 20 for one of the longest periods in the alt-coin market history. You have to go back to the summer of 2016 to get anywhere close to this length with a period of 69 days. Or the summer of 2015 for 73 days.
Circled in green are the 20 cross ups - look at what happens to price actions after extended periods of oversold.
We’re now entering the final phase of the bull market, wave 5. I’ll update when this top is reached. Most alt coins are oversold by 70-80%, fear is reaching boiling point. Don’t be this guy:
www.youtube.com/watch?v=TRXdxiot...
Comment:
Dominance is starting to shift from BTC to alts, just not yet confirmed. For confirmation we need Stochastic RSI to cross up 20 (yellow circle on 3-day chart below) - as you can see we're very very close.
Will update this idea when the cross occurs, however something tells me you'll already know ;) By that I mean there is a vast number of alt-coins / BTC that are oversold currently showing bullish divergence. Most will pop at the same time.
Will update this idea when the cross occurs, however something tells me you'll already know ;) By that I mean there is a vast number of alt-coins / BTC that are oversold currently showing bullish divergence. Most will pop at the same time.
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18 days ago I said I would update this idea when a cross on the Stochastic RSI occurs. We've got one! (circled in yellow).
Just got an alert to the Stochastic RSI on the 3-day chart crossing up 20. I would like to wait another week to know for sure. However this is encouraging - look left - those crossovers are not to be ignored, especially after such an extended downtrend.
I believe this will be the final phase of the alt-coin run in this bull market once the back test is confirmed.
There’s something else interesting… that is the pennant formation + breakout on the alt-coin market total chart (below). Price action has reacquired the 21-week EMA. The breakout of the pennant measures a target of 1.9 trillion for alts, double where we are now.
Just got an alert to the Stochastic RSI on the 3-day chart crossing up 20. I would like to wait another week to know for sure. However this is encouraging - look left - those crossovers are not to be ignored, especially after such an extended downtrend.
I believe this will be the final phase of the alt-coin run in this bull market once the back test is confirmed.
There’s something else interesting… that is the pennant formation + breakout on the alt-coin market total chart (below). Price action has reacquired the 21-week EMA. The breakout of the pennant measures a target of 1.9 trillion for alts, double where we are now.
Comment:
Alt-coin dominance is currently testing the 2017/18 bull market top for the 2nd time. The apex of resistance and support is met before the 10th day of October.
Whatever happens, I guarantee you, it will not be boring.
Whatever happens, I guarantee you, it will not be boring.
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The alt-coin market is about to make a ridiculous move
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The last time stochastic RSI crossed up on the 3-day (purple circle) it was a fantastic month for alt-coins.
Comment:
Two charts:
1st Altcoin dominance
The alt-coin market on the 3-day chart below is showing a 3rd test of the 60% level. Make no mistake, if this level is broken alt-token dominance will explode. Why? Because there’s no more resistance. The effect on alt-coins will be massive.
2nd Altcoin market total
On the daily chart below the alt-coin market total is currently testing past market top resistance as support. It is showing massive support at this time.
Additionally the lower pi-cycle support band (yellow) is showing support for price action as it did in previous bull markets (purple circles), look left!
1st Altcoin dominance
The alt-coin market on the 3-day chart below is showing a 3rd test of the 60% level. Make no mistake, if this level is broken alt-token dominance will explode. Why? Because there’s no more resistance. The effect on alt-coins will be massive.
2nd Altcoin market total
On the daily chart below the alt-coin market total is currently testing past market top resistance as support. It is showing massive support at this time.
Additionally the lower pi-cycle support band (yellow) is showing support for price action as it did in previous bull markets (purple circles), look left!
Comment:
For anyone who remembers this idea.. the last time the alt-token market flashed this buy signal.. the date was January 2021. Remember what happened next?
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
The push caused the alt-coin market to go into a strong oversold condition (orange column). Look left as this happened before.
Hang in there!