Doom or Moon and Why
WHY DOOM
- This is a very strange time for the crypto market.
- Bitcoin is pumping but alts are losing
- Usually BTC moves off lead indicators such as ETH in 2020 or LTC in the past. Even LINK.
- You can argue that the ETH pump was caused by the DEFI bubble.
- ETH has failed to catch up to BTC. BTC was able to catch up to near 12.5k.
- Traditionally speaking, when BTC bulls dominance increases alts go down.
- What is strange alts haven't even had a chance to catch up at all.
WHY MOON
- In 2017 BTC didn't need any help from the alt coins.
- When it pumped the alts waited until the end of the ATH to get going.
- BTC has been able to bounce off EMA in which it did in 2017.
- Buying pressure has increased since BTC and is seen as an alternative market to stocks.
- Macro trend is long term bullish.
- 5 Day Macd has a bullish convergence.
Overall Analysis
- I would like to see BTC crush 12.5k and balloon to the 13k-14k range and consolidate from there.
- Thus, enabling alt coins to play catch up.
- I believe this will create a healthy market.
- In the meantime, I believe this is a very strange area to be in.
- My chart is indicating that their may be an alt season coming.
This scenario has wondering. Does this mean an alt season is near, or further continuation of BTC, or the signs of a mega crash?
- This is a very strange time for the crypto market.
- Bitcoin is pumping but alts are losing
- Usually BTC moves off lead indicators such as ETH in 2020 or LTC in the past. Even LINK.
- You can argue that the ETH pump was caused by the DEFI bubble.
- ETH has failed to catch up to BTC. BTC was able to catch up to near 12.5k.
- Traditionally speaking, when BTC bulls dominance increases alts go down.
- What is strange alts haven't even had a chance to catch up at all.
WHY MOON
- In 2017 BTC didn't need any help from the alt coins.
- When it pumped the alts waited until the end of the ATH to get going.
- BTC has been able to bounce off EMA in which it did in 2017.
- Buying pressure has increased since BTC and is seen as an alternative market to stocks.
- Macro trend is long term bullish.
- 5 Day Macd has a bullish convergence.
Overall Analysis
- I would like to see BTC crush 12.5k and balloon to the 13k-14k range and consolidate from there.
- Thus, enabling alt coins to play catch up.
- I believe this will create a healthy market.
- In the meantime, I believe this is a very strange area to be in.
- My chart is indicating that their may be an alt season coming.
This scenario has wondering. Does this mean an alt season is near, or further continuation of BTC, or the signs of a mega crash?