Most ALT/BTC charts are setting up nicely for a run here as long as BTC continues trading range-bound. This is one primary example of what this play could look like. This area we are trading in could very well be a bull trap; until we see considerable volume in large cap alts, tread lightly in these riskier plays.
Looks closely at all the dotted lines and where we were with bitcoin dominance in 2018 when alts peaked and compare to how we look today in the right pane. If BTC.D keeps dropping we could see massive gains. No guarantees. Everything could collapse tomorrow, but the charts provide hope.
bouncing off 200MA, golden pocket and oscillators bullish. Atleast expect to touch top of the BB band before deciding further action, unless Covid kills us all.
ALTS MARKET
From looking at the TA we see that we are near support of 50 Billion and are tracking near it. According to MACD, RSI and other indicators, we should be seeing a bounce shortly. Extent of that upcoming bounce is unknown.
