1. Most liquidity in the space goes through Bitcoin. Still most alts have BTC pairs, most derivatives volume is on BTC and it is also frequently used as collateral for margin trading. People can easily sell BTC to get USDT to buy alts. 2. In 2019 from the lows, BTC went up and squeezed all alts. Alts bottomed vs BTC when Binance closed US accounts & Bakkt...
The Bitcoin dominance has been falling ever since september of 2019. Since late august of 2020 it has been rising though and altcoins have been bleeding against Bitcoin. Now might be the time to continue the descend. The level of 60.35 seems to have been significant on numerous occasion, working as both restistance and support in may of 2019 and again...
Hello everyone, 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 ...
The current situation: 1. A head and shoulders pattern is apparent on the 12HR chart, while the price action is right underneath the 12HR 200MA. The neckline is at about 59.4% with a measured target of about 57.7% The bullish case for altcoin: if BTC.D gets rejected at the 12HR 200MA and breaks below the neckline. This will signal lower BTC.D and it will look...
In this post, I’ll be providing an in depth explanation of the (inverse) correlations of Bitcoin, Ethereum, Bitcoin Dominance, and the US Dollar Index. This will help traders understand the general trends of each assets and indices, as well as what to look for the next measured move. I have divided the chart by the 1-2 months, in order to demonstrate clear...
This is extremely bad for altcoins, this Head and Shoulders pattern is powerful. Also, the major trendline to the downside is broken. Big move is coming and it will be nasty. You can short altcoins on Binance Futures / Bitmex or move your Crypto to USDT temporarily - only for traders. The monthly chart is still bullish for altcoins. Please, hit the like button...
Bitcoin Dominance gapped down through a 3-year uptrend from 62% to just under 60%, sitting at 59.34% at the moment. This is a good indicator for altcoins going into this next week and even month, that it will be a good month for altcoins in the respect that select ones should out perform Bitcoin very well, such as a handful of the DeFi projects we've seen...
Alt season is currently in progress. The rising wedge pattern is broken, which massively favor altcoins speculators. This rising wedge pattern lasted almost 2 years. Also my Elliott Wave count is completed. If you like this technical analysis , please hit the like button and follow me for more of these ideas! Also, check my signature down below ↓
Just Memorize This Concept: If Bitcoin Dominance Increases & Bitcoin Price Increase. Alt-Coins are gonna DUMP If Bitcoin Dominance Increases & Bitcoin Price Decreases. Alt Coins & BTC are gonna DUMP (Keep USDT at this moment) If Bitcoin Dominance Decreases & Bitcoin Price Increases. Alt Coins Gonna PUMP (Alt Season)
1st Rule = 2MTHS down of BTC.D 2nd Rule = 1st Rule CL Green Candle 3rd Rule = Candle that follows 2nd Rule CL Green too 4th Rule = Belief DXY only a retrace NOT ADVICE DYOR
Good Buy Alts, Bitcoin WELCOME 🤗 Are You agree with me? :) I would like to discuss this situation with You ) WELCOME TO MY COMMENTS🧡 YOUR ROCKET BOMB 🚀💣
Since altcoins fail to recover, we see bitcoin dominance in a strong recovery. Investors taking their profit either to USD or Bitcoin. Where we will see a strong bounce to the upside, if it breaks the neckline. This doesn't mean necessarily that the price will follow. But it shows that investors trust might jump back to Bitcoin. Since altcoins having a hard time...
Zooming out a bit here on the dominance chart looking at the 3-day timeframe, you can’t really grasp the entirety of the Bitcoin Dominance chart if you’re looking at the 1-hour timeframe. Ok in the past i’ve done multiple breakdowns before with this same chart and timeframe, but I enjoy updating this chart every month or so for you guys and me to look at. After...
In this ETHBTC chart we see 2 contributing factors: A horizontal level at 0.04 which price touched a few weeks ago. That level is confirmed resistance. There is a clear trading channel since the covid crash low which began the uptrend, which ETH has reached the top of in the past month and failed to break through. This suggests ETH will drop...
We have a falling wedge coming closer and closer to finish inside a big bull flag on Bitcoin dominance chart. If first one breaks up, alts are in problems and when flag breaks up, it's going to close a carnage of altcoins. We can probably get one more down (at least) on each of these chart patterns, but times when we have to become very careful with alts...
Bullish Bat >> It is not an Investment Advice. It is for Tracking Purposes Good Luck :))
The 5-day chart shows well how bitcoin dominance rose slightly to test resistance in the past couple of weeks and is now capitulating under the pressure of the emerging altcoin bull run. As forecast in our chart last week. Visit the chart and click the play button... Note: SparksterSignals (including our technical analysis and our algorithmic backtested...
Scallop resistance turned support This is a possible time for many alts to undergo a 'purge' and desaturate the market. The large gap has been filled.