Possible scenario for altcoin market cap
on total market cap TOTAL ticker Starting to lean bullish on this coming volatility
Total crypto market i conjunction with bitcoin dominance has been the best indicator of whether to bias BTC, ETH or FIAT
They have been a theme recently, particularly in the parabolic run from Feb - Jun Just a scenario cast $7500 - $8500 could be a prime buy in spot
Some support coming up for altcoins. No reason to rush in and catch the knife right away.
Bearish here short term. Waiting for test of support and /or the 21 weekly average. Then will buy back in. Will get back into BTC if we break 13.8 Nothing complicated
Why is anyone buying this? Its been in a 3 year downtrend
Lots of optimism and bear doubt creeping in too If we can keep these levels a few more days I'll start to become more bullish. If the drops going to happen it has to be soon for the bears.
Particularly the 3D. Patiently waiting for this dip to complete.
The name of the game in crypto is when to bias BTC, Alts and Fiat. An analysis on BTC.D, ETHBTC and other ALTBTC charts shows when was best to hold each category to maximise BTC stack. Hindsight is a wonderful thing. I do not intent to short BTC and bias into fiat during a bull market. It is safer to preserve BTC stack and stomach -40% corrections. It is...
Still 70% bearish here as parabolia and rising wedge broken Also bull volume drying up the whole rising wedge and bear volume increasing. Target 5.8 - 6.2k
Disclaimer: not calling a top here just making ideas up
35% is an average historic correction $6k likely imo