No way would I have the audacity to call the next "alt season", but this Bitcoin Dominance chart, assuming this week closes somewhere around here, is starting to make the alts look very interesting to me for the first time in a long time. Next week could be, well... interesting... for the alt coins. Let's leave it at that.
UPDATE:22/01/2020 "This will trigger the altcoins market"
It looks much worse for BTC Dominance than I thought earlier.
BTC Dominance will decrease little by little, which means that the very big increases upwards will also decrease. Therefore I expect that Bitcoin will move between $8000 and $14000 the coming 2 years.
Another BTC.D update, as we all know Bitcoin topped out earlier this year at $14,000 as well as the dominance after a 2-year bull run at 73% to the T.
The monthly level marked in white at 70.21% is the exact point at where the 2017 altcoin season started. It's not a coincidence that we keep trying to touch the 70.21% level.
Traders know that we can't break back...
Just like 2017, the altcoin season won't come slowly, it'll be a sudden rush and inflow of money.
We all know that we've topped out at 73% in the fall last year, and now we're just coasting below the big resistance level at 70% dominance.
There is no more support until we get an alt season, please take a look at how crazy those candles look in the past week,...
One of the most common questions I get when it comes to altcoins is, "should I trade or should i just buy and hold?"
For most people, buying and holding (or hodling) is often times the best answer.
It's less time intensive and you don't have to think about it too much.
The problem (and often asked question) is, "when should I start buying?"
For that, I would...
I would like to show you another reason, why I think altcoins are not "dead".
If you take a look at left side of the screen (BTC.D - Bitcoin Dominance)
You will realize the MA200 (MA - moving average is commonly used with time series data to smooth out short-term fluctuations and highlight longer-term trends or cyclesis pointing) is pointing...
With altcoin dominance closing back above the rising 200 Week MA last week, confirming Bitcoin's long-term weakness in market dominance, "ALT.D" (1-BTC.D+99) has again held the 30% support a second time and is looking for a breakout above 33.75% with a target to 40%.
This would additionally be a TD Sequential trade on the Weekly chart with a Green 2 going above...
Bitcoin dominance is trading inside the uptrend channel. Uptrend channel support is at 63.5%, and channel resistance is at just above 80%.
BTC.D could drop further and test support at 63.5% in the next few days.
If BTC.D manages to bounce from 63.5% then it could rise for the next few months, and it could reach above 80% which is also top of this uptrend...
Hello traders as you can see we have broken through key monthly support on btc dominance chart. Majors have been outperforming btc and that will continue. The maxis have had their fun but now its time for them to be punished. Target in the 50% range.
I`ve made this chart 6 months ago. Its performing well up to today.
This could mean alt-season is just around the corner.
How much Price will go down from actual levels will depend from amount of new money entering the markets.
- this is just my opinion and no investment advice
An update from my last Bitcoin dominance idea, where I called out the dominance would top out in September then start to gradually fall before alt season.
I say this with confidence, I don't see bitcoin going any higher than 74% dominance. In September it topped a little over 73% and has failed over and over again to break that.
A lot of people are calling 90%...
BTC Dominance is currently trading at the key support area after falling from a cliff last 14th of Jan.
If BTC Dominance can't get above 69 levels there is likely a bearish cross of 50MA and 200MA will happen in the coming days.
This will drastically shift the momentum from Bitcoin going to the Altcoin markets.
Meaning, We will experience an...
Bitcoin Dominance dropped like there was no support around 69-68 levels. BTC Dominance is now at 67 levels giving Alts/USD pairs a minor pump or relief rallies.
If BTC Dominance closes the candle below 200MA, I am looking for this potential bearish triangle pattern which will lead the price much lower in the coming months.
Things are really getting...