Our support is the weekly 21 ema. The time that we will be trending is unknown. It could be years, months, weeks. All the bear bias is destroyed at this point. Especially with the corona panic bottoming candles. I expect BTC and ALTS to take pumping turns at this point.
The recent retrenchment action gives us a target of a 60% dominance as a first target. Of-course if things get crazy it can over perform. As long as we close under the 21 daily EMA we are in an alt season in my eyes.
When we clear 14k there is nothing stopping BTC from making new ATHs. This is months and months and months of sideways action above the 21 monthly EMA. I think we might start breaking 14 k at the end of the year and we most likely are going to break the ATH next year. But everyone in crypto expects that. We also have the new bull run narrative of Defi to push us...
Currently we are in a neutral zone above the 21 weekly EMA and below the 100B resistance. If we break above its moon time. If we break below the 21 EMA and close there its back to 50B probably. Nothing has changed. We are simply waiting for this channel to break the resistance and accumulating when it breaks t words the bottom.
The only thing standing between us and a pump to 70 bucks is the 21 weekly EMA. If we close above it this or next week its pumpi pumpi time. All these other alts already pumped. Now its time for good old boring LTC.
The setup is incredible. Range between 37 and 100 bill after a brutal 90% bear market. When we break out and sustain above 100 Billion there is no stopping the alts. Btc maxis are going to be very jelly when the dominance falls below 30%. I see us 10 20 30x ing our money in the top alts the next 3 years.
No one is paying attention while the altcoins are breaking out of this pattern and holding the 21 EMA on the weekly and monthly charts while the ADX and MACD are aligned for a bull move. This is currently quiet but i suspect that soon things are going to accelerate on the upside.
The only difference is that it fell a little bit harder on the covid panic. Now i dont expect anything special to happen. We will most likely have a pump that takes us to retest the halving highs which i will attempt to trade and hopefully increase my stack.