ALT-SEASON or NOT ? ALT-SEASON or NOT ? So how do we understand this? Altseason
To understand this, I checked the whole market by doing very detailed study. I share the charts that I find important on the subject.
The most important charts are:
1-) Btc Dominance
2-)Eth/btc
3-)Eth/usd
4-) Total2, Total3 marketcap
5-)Others dominance
6-)Others marketcap
7-)BTC/USD
8-)XRP/BTC
9-)LTC/BTC
I recommend you to check all charts to fully understand. And thank you
1-) Btc Dominance
First one, btc dom. I dont except impossible levels like 60-70. Looks like we have come to end of the road 🗡 ready >>>waterfall
2-)Eth/btc
The rise of ETH means the rise of altcoins. Strong Eth= strong altcoins
ETH/BTC Most important chart imo. We have to save green line !
3-) ETH/USD
ETH/USD
4-) Total2 marketcap/ exclude btc
Total3 marketcap/ exclude btc and eth
5-)Others marketcap 1w
6-) Others Dominance 1w
7-) BTC(USD
8-) XRP/BTC
9-)LTC/BTC
Conclusion : I think the real rise of altcoins will be in 2024. This does not mean that we will not see any increase in 2023. But my main strategy is to collect in 2023 and sell at the end of 2024.
These charts are more meaningful when they come together and form a whole.
TOTAL2 trade ideas
TOTAL2 LONG IdeaWe can see a clear Inverse Head & Shoulder Pattern that broke up, the long target is just at MA200 in 4hours chart. We should wait for retest confirmation to open long positions on Altcoins. Remember to manage your risk and Use stop lost in all your positions. I will update this Idea later.
Reversal head and shoulders pattern on weekly time frametotal 2/W
Altcoins index (the total volume of the money market other than Bitcoin)
In the weekly (long-term) timeframe, what the chart shows is the formation of a bullish inverse head and shoulder pattern. Of course, the pattern has not been confirmed yet and it is not possible to comment much on it, there is only a possibility that if this happens, we can see a very good growth in the market as a whole. Of course, altcoins are currently being reformed.
Pay attention, friends, the analysis time is weekly and takes a lot of time...
Total 2:It fell because Ethereum fell a lot, the rest of the coins also fell, but Ethereum fell a lot, and the entry point for the short position was also missed. Even if Total 3 falls, altcoins will fall another 50-60%, so it has important support ahead.
There is a lot of fear in the market, so it moves faster than failures
Open a short position below 500
Total 2:There are good candles in four hours, two of them are flat, we can take a long position out of it, so Bitcoin dominance is also suffering, so find bullish Bitcoin as long as Bitcoin dominance is bullish, I will not collect altcoins myself. But, well, this is me, you have to analyze it yourself, in fifteen minutes, it will confirm after 523, for long position below 513, it will confirm, for short position, don't open earlier, it's all 4% more, so when you are not sure, let it go, save your head.
TOTAL2 IdeaIn idea showing a large up move on the market cap chart
I don't think the current market cap is appropriate at all. We are yet to see the top.
The yellow line shows top points, with the last top being hit in 2017.
The last bull run in my mind was a sort of quasi bull run, leading to the one we are about to see.
Altcoins' Downturn & Bitcoin's Unmatched SupremacyLet's cut to the chase. As an advanced analyst, I see a cataclysmic drop in altcoins on the horizon (obviously). This isn't just a hunch; my trusted charts reveal a looming dive to super low levels. Even stable-coins like tether, which often a safe haven, are part of this story, affecting the Total2 index. Stable coins make up about 120 billion dollars (20% of Total2) as of June 13, 2023.
But don't worry! Bitcoin stands tall amidst this chaos. It's the clear leader, shining in technical prowess and visuals. Altcoins, in comparison, are garbage securities which just don't measure up.
As altcoins lose steam and get sued to zero, I see money moving back into Bitcoin, further solidifying its top spot. In short, brace for an altcoin shake-up, stay prepared, and always trust the charts. Especially mine. Not these SCAM ARTISTS who know ASBOLUTELY NOTHING about financial markets.
See my inverse - Bullish Bitcoin idea linked below...
Expanded Flat -> Triple-BottomTotal2 looks like an expanded flat completing its reversal at the end of a C wave.
It has twice bottomed just shy of the 1.618 for its trend-based fib, and may or may not reach a 3rd bottom near this area before exiting above its neckline.
If it doesn't reach bottom again, it's possible it could perform a move similar to what INDEX:BTCUSD did here:
However, it has so far failed to maintain a breakout if we draw a similar wedge on Total2:
A 1x measured target lines up with its 50% trend-based fib, while the 2x measured target for the triple-bottom lines up exactly with its 0% fib, exactly where total2 reached its ATH.
This would go in line with my theory that movements in DXY could lead to recoveries across multiple markets that end in double-tops.
Total 2 - Altcoins minus BTC TOTAL 2 - Crypto Market Cap minus BTC
Three confirmations for bull status
1. Above 100 week SMA (No where close)
2. Complete 149 weeks in Pennant (Dec 2023)
3. Break above Point of Control (POC)
The 2018 - 2020 fractal is overlaid for perspective only
The Point of Control (POC) is the price level at which the greatest number of contracts have been traded within a volume profile (THICK RED LINE).
This line naturally coincides with resistance overhead.
Its important to recognize that the chart is just a perspective that aims at helping with timing an entry with a good potential outcome. With three indicators backing your trade you would have a better probability outcome. So we wait for the three confirmations to occur. Could you be accumulating sure.... but why would you when we are under the 100 week SMA appear to have more time to burn before a Bitcoin cycle really kicks off never mind the altcoins. Its important to recognize also that this chart includes ETH and ETH has been performing exceptionally well this cycle. I will be completing another chart excluding eth in coming days.
I hope this chart helps you time your trade and your positing into altcoins, when the time is right, when we have confirmations and the wind at our back.
PUKA
Important levels and dates for $altcoinsStill think we'll see one push higher before the continuation of the bear market, however, alts may have a capitulation move first.
If we look at Total2, we can see that $484B never got retested as support. So it would make sense that price action would need to test that level before a continuation higher. If it does get hit and bounces off that level, you can see the chart would form an inverse head and shoulders pattern.
I could see a large bounce higher happening after to tag one of the higher two resistances (I lean towards the $800B one).
Let's see if this plays out in the coming months. It looks like this would all need to play out before August.
BTC 20% pump incoming ?!! BTC anaylsis today 💎 Observing yet another correction in the bullish trend, closely following the Ascending line 👀
💎 The price is poised to rebound from the supportive cluster of MA 50 and Ascending line.
💎 Paradisers, it's time to adopt a bullish stance once the bounce is confirmed 📈
💎 Remember, in the fast-paced world of crypto, timing is everything. Stay tuned for more updates and happy trading!