Great news for altcoin hodlers and traders!
There are serious indications that the Altcoin season is about to start.
If we take a look at the Bitcoin dominance chart, we have a clear MACD divergence on the daily and on lower time frames the chart has made a lower high and just broke and tested short term support.
If the dominance chart closes soon on the daily...
Price has been holding here for a good amount of time. Possible dominance reversal wick showing. I'll take my chances on this one. Let's see if we can lock in some profits.
Signal Type: Regular (Long)
Entry Zone: 9900-10125
Take-Profit Targets: 10250-10500-10750-11000-11500
As I had also posted on the 21st August in a telegram channel as a reply.
More minor alt gains until PRISM’s psar-based RSI/Stochs resets.
Noteworthy: However, divergence in the progressive tops of the psar oscillator where it is descending, while BTC dominance is ascending.
X FORCE CRYPTO ANALYSIS:
The bitcoin dominance chart looks very bearish, indicating that we will see a drop in the coming times.
It is forming a textbook bearish ascending wedge, but we have a lot of support in terms of moving averages, ichimoku cloud, and historical support zones.
As long as we break down from the wedge formation,...
1. corss is a singnal of UP trends.
2 & 3 are resistance. we have to monitoring what charts wants to do. Break to UP or DOWN.
there are powerful Komo (resistance) that btc needs to break it. If not, altcoins in 2 months later are ready to go.
Target is 71.6%
Will we see pure capitulation on Alts over the next few weeks? or will they sit sideways? Bitcoin Dominance doesn't appear to be finished.
I'm ready to buy the f*cking dip. My eyes are on $IOTA and $AGI.
This is a MUST-READ if you are holding alts in your portfolio!
Bitcoin's surging dominance just had a clean break above resistance and is gathering momentum for an upside breakout. As you can see from the chart, this pattern has happened before repeatedly (refer to the rocket icons) so the continuation pattern isn't going to change unless of course, the teal...
Patern (Southern Evening Cross)
after such a pattern, a drop is observed.
Bitcoin domination 574 days growing
When the correction comes, it will be possible to look closely at the purchase of altcoins
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BTC Dominance technical analysis
The overview shows that #BTC Dominance is finish 5 waves Elliott impulse and will start a correction (it means #BTC dominance will decrease ),65% and 62.5% are next level for Btc Dominance that can reach in a short term
Breaking trend line is necessary to confirm this analysis
It’s a great news for alts