total altcoin market cap last time we did 2700x (270,000%) this time, maybe we 'just' do 20x (2000%) just 1% of previous move that would take alt market to $10trillion could go higher but don't think we see the index doing a 2700x this time
Does the key level 3.8% - 4.2% act as resistance or support? Macro structures suggest upside - inverted head and shoulders - falling wedge breakout w/continuation structure However if we get rejected here, there is argument for an ascending broadening structure The bear could take a short position up here and is wrong above 4.5% Biasing long until some bear...
4h uptrend established: 2 higher highs and 3 higher lows double retest of falling wedge we just broke out of test of each side of pitchfork twice currently in the lower quadrant of the pitchfork - low risk areas for a long pitchfork invalid on close below of $31900
Order books are pretty thin so limited firepower on this trade Watching 4hour for weakness, 4H currently in ascending triangle structure v.bullish I'm wrong on close below $0.53
STRATEGY Forget dollars Your base should be BTC or ETH Altseason is opportunity to stack bitcoin and eth Market is undecided, possible weekly consolidation/distribution If bear break, short opportunity to increase base stack If bull break, leverage long + altcoin pair opportunities to increase base stack During consolidation, sit tight in base and wait for...
Possible scenario for ethereum Rising wedge -> Break all time high resistance -> Support + resistance traders get giddy and loadup leveraged longs -> Possibly even melt up out of wedge for wick to $1700-1800 range -> Long liquidations -> Piss off the roof spilling down to $800-$1000 range before setting higher low on higher timeframes, ready to break ATHs later...
60% liklihood of dominance tanking by May for following reasons: TECHNICALS 1) rising wedge breaks bearish 70% of time, approaching end 2) head and shoulders possibly forming on daily timeframe 3) ETHBTC v.bullish on weekly, good bellweather for alts, impacts BTC.D bigly FUNDAMENTALS 1) UNIT BIAS: unit bias, new market participants will feel like they've...
Normal retrace after run from 3k to 42k to normal fib nodes RSI overextended on weekly but monthly and daily are green light for continuation. Weekly is only issue. Could easily stay between 85-95 RSI for multiple months. Staying cautiously bullish for now. No point going cash, better to eat any 30% - 50% dips, not getting cute with this market. A...
4H dominance is 70% likelihood of upside, 30% downside if this falling wedge plays out. Could see 73% dominance again. I'm wrong below break of 66%, next support would be around 63-64% in that 30% case scenario Bigger picture break of 62% in macro rising wedge signals massive altseason
A reasonable retrace back to the averages in a 100-200% move against $ETH Oversold on weekly RSI USD chart not convincing, but positionally a reasonable trade to double an ETH stash if you have the balls
Ascending triangle LINKETH also looks ready to bottom medium term Altcoins all dependent on bitcoin for now. If corn voms trade setup invalidated
Long-term downtrend so no reason to be bullish vs BTC at present NEOUSD chart has reasonable chance of rocketing up to ATH in the next 2-3 months, given how often its bowl market structure has repeated in crypto. If it does can expect revisit of the top of this range. No idea if NEO fundementals are still good. Was big coin in 2017 so let's see.
Don't like to zoom in this far as messes with my brain But do we see a final altseason pop before forming a local top? Bears were not convincing on that daily close just now, long lower wick Let's see
Possible head and shoulders on monero long term Looking for a v-shape snap back to confirm
-> Impulse -> falling wedge continuation pattern w/ iH&S -> wedge broken bullish with descending broadening wedge / bear flag simp harder your queen is calling
INVERTED CHART ETH dominance 60% liklihood of shrinking ETH dominance 40% liklihood of increasing Falling wedge is bullish (bad) for ETH.D
INVERTED CHART TO REMOVE BIAS Could go either way Bitcoin dominance breaks falling wedge bullish before May 2021 (good for alts) - 60% liklihood Bitcoin domiance tests lower section of wedge and goes to 80%+ before breaking out bullish after May 2021 (good for alts) - 30% liklihood Bitcoin dominance goes back to 85% and this market is a BTC-maxi market with no...
Clean simple trend Three lower highs a theme Previous two runs have been 250% - 300% $LINK to the $50 - $80 range by end of summer (80% liklihood) If trend change (take out $7 high), trade invalidated.