Finally seeing a drop... Still got a long long way to go though. Could get interesting if we start seeing the altcoin market pick up and when fomo kicks in, we could see some nice moves in the alt-coin market.
A little obvious on the title but ultimately sometimes you find when the dominance drops it's because of a Bitcoin drop. However, over the last 48 hours, satoshi values have gone up a little as Bitcoin dominance went down. We may find that more of that, people will get more into alt-coins and create further moves.
Looks like more possible bearish behaviour, be careful looking at catching bounces. Big run up and now with dominance in BTC high, not worth touching. Great run if you caught the last move.
The FA with Matic is really good with Coinbase listing and other listenings due to the Binance closure however it may mean nothing if the Bitcoin Dominance remains really high.
Don't jump on this based off news alone. Wait for the technicals.
We should have ALTs break-out any day now.
This is the alt coin market cap to BTC USD price ratio on the daily.
68% chance for a break to the upside on this falling wedge.
With the links of Jaguar Land Rover... Is it possible we could get a push due to the FA and the hype on this?
Totally possible but at the momentum market is flat so may not get as much excitement as previous announcements like this.
Comparison of a same bubble structure between the Silver bubble and the total market cap of crypto (exl. Btc)
If alts don't produce a higher high around here, then new lows are to be expected, with a slow and long decling of several years.
Of course maybe a few alt coins will probably survive this pattern and will show a more bullish pattern than shitcoins and...
Trend line is still on track as pictured. Fake out had massive sell off at $0.37250. Price consolidated, awaiting further potential break now. Other wise lower levels will be retested...
Hey traders,
Quick Summary, focus is on the correction today for obvious reasons, where is the bottom? 8700-8900. lots of confluence at this zone. I project a wick will make it through the 200 ema on the daily chart and bounce with nice volume off the .382 fib line for the overall retracement, if we fall below this area things may get bearish real quick....
Forming a triangle. If it breaks down we can see support at the .5 fib, but we are getting higher lows, we are also seeing higher lows on rsi but also higher highs on rsi and lower highs on chart which is bearish/neutral.
If we break up we can expect wave 5 to start playing out.
We are at that point of apex now to make it an easy trade either direction.
Longtime resitance which has become support, stop loss for this will be very short as if it breaks below this it will go further down. and upside i have kept just below the next resistence, if it crosses that then next target is even higher.
