Position: Short at 71% Dominance
O RSI BREAKOUT at bearish pennant pattern
O Head and Shoulder pattern ongoing, likely to pull back until 71 ~ 72 and fall
O Long term trend since 2018 still in rising trend
O Fibonacci retrace seems to be at 66 ~ 67 and 60 ~ 61 zone
O ALT SEASON is here SOON, accumulate your alts ...
After 2015 btc pump alts suffered and durings its consolidation alts 2xed.
Generally alts seems to have an inverse correlation with btc where they pump more after btc has pumped hard.
We seem to be in the inverse period now where alts should soar and btc consolidate and perhaps drop 10-20% more.
We play with Smartmoney concepts, that means that we look mostly on PA to determine what will happen in future.
As we all know, price is moved by BIG players: Banks, Institutional traders, HFT bots (we call them all of them SM).
They can't play as we do, cause of a HUGE lot sizes, so cause of that they need to SELL to BUY and BUY to SELL for...
It's time to introduce new technology. In the late 90s, it was the Internet, now it will most likely be a blockchain. I expect the peak of the stock market in 2020-2021. Bitcoin will not become a defensive asset, just like gold (remember 2000 and 2008). In a panic, everyone goes to the cache. In the meantime, we observe further growth in the stock market due to...
ALTSEASON is coming and it's coming hard.
POLONIEX:DOGEBTC will bark first keep your ears clean.
I'm extremely bullish on altcoins, but I must acknowledge the fact that PRETTY RAPID ESCALATION OF MIDDLE EAST CONFLICT might occur and then we all f*cked.
'Cause those oil-hungry...
As we can see here , Altcoin dominance is falling after hitting its big resistance. RSI also indicates weakness in dominance on the other hand MACD is also looking to do a bearish cross. looking forward to this wedge to be broken and retrace to 0.78 level on the fibs which would be around 43% Dominance.
look out for good R/R setups on Binance and start longing...
BTC Dominance seems to have already been drawn down. All other Altcoins, on the other hand, are considered early in the bull market.
The question is whether it's a sharp drop, a slow curve, or a sideways, and I'm trying to respond differently to the picture being drawn.
The atmosphere of Altcoin market is good. I wish you all a success. I'm a suspicious person...
Oil and Geopolitics to Trump the Fed this Week? - Day 2
The Saudi Refinery attack over the weekend sent the Oil prices to the stratosphere yesterday, and the geopolitical tensions surrounding Iran are rising. Yet, the price action in equities has not been as panicky as one would expect, possibly owing to an underlying "optimism" that the Fed this week has to take...