Altcoin have been bleeding and crashing this couple of days
because of massive btc rising price and btc dominance
but this support level are prove strong because it has been tested couple times in a short period of time
My expectation is that Defi is going to run hard for 2-3 more months until the EOY.
As you can see from the previous cycles, this one again seems to go parabolic, albeit long term as Defi hype dies down and gets replaced by the new flavour of the year, cycles will become longer and weaker until no longer relevant.
Don't marry your bags.
PS: This is not financial advice.
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Good morning my friends, my analysis on $BCH was taken down because i might have violated one of the house rules unknowingly to me but its sorted now, and that trade hit my stop because of the unforseen $LTC & BTC manipulation.
so back to the chart this is ALT index has we can see forr the past few days btc have been moving sideways which has caused ALTS to...
Alt Perp Reference 8/19/21
-Most coins will follow the same or similar patterns
-Alts on support ~ BTC near support
-Extended run rarely pulls back vs Feb Alt szn
-BTC Dom hella low
-What happens when btc.d rises
-W Reversal Patterns, usually reverse bullish again
-Some coins shoot str8 up after b/r daily s/r, why? str8 drop/gaps/vibes
Just looking through some crypto pairs and I belive this is the next move we're going to see.
I believe we'll see the alt-index face a significant drop; however, I'll need to see confirming price action in this area.
I'm liquidating majority of my alt positons and keeping them in cash in case of a significant discount to accumulate!
It seems that after a long fall from the dominance of Defi to Altcoins, we are starting to take a strong move to the north. The chart looks very promising and a strong upward structure has formed in the W1 chart, which is confirmed by the crossing on the MACD chart. The RSI was cooled down, hit the bottom and now it's going.
Everything looks very promising and if...