TRX Sun Moon?Opened a long on TRX . We can see bulligh rsi divergence, upticking histogram, potential macd bull cross, and increasing volume. Additionally dominance is declining. However, I have to be careful becuase a btc pump could rekt this. It's holding above the 4hr 20ma @ 191, and I like the confluence with the 4hr 50ma @192. This could be pretty. My target is just below the 0.272 fib extention of the previous wave. I also like the risk:reward on the trade: 7. Let's see how this plays out.
#TRX/Z19
Exchanges: Bitmex
Signal Type: Regular (Long)
Leverage: 5
Entry Zone: 190-193
Take-Profit Targets: 199-210-220-230-240
Stop Targets: 185
Risk: 18.25%
Rate: 192
Altcoinseason
Possible 30% gain on this altcoinsHello Fellas, Today is a very interesting day when we see at the market . it is all because I saw a lot of buy signals from altcoins which could lead them into a huge bullish run in the next few days.
First of all, if we look at the 4 hours chart, we can easily find an ascending triangle has been formed which usually could lead the price to go up. Beside that, I've seen a possible 5th wave is going to be formed in near future.
Because I often see a truncated 5th wave which usually lead us to the double top pattern, I will be waiting for the break out confirmation of this 4 hours pattern. and enter long position from here.
My 1st target will be between 19700 - 20000 which act as previous swing high of current pattern. My highest target for mid term is around the 25000 which is 30% up from current price. However, between 20000 - 25000, I see a lot of significant resistance is ready to fight the price back, that's why I will give you a breakdown update for those resistance ahead.
Thank you.
What does it need to confirm altcoin season?"What seems good is not necessarily good" Maybe this statement is the right quote to represent current condition of the market in cryptocurrency universe, especially in altcoins!
A lot of arguments about the next altcoins season has occured lately. not just because the height of the bitcoin dominance, but also most of the altcoins has reached an extremely bottom right now. If you've read about the logical thinking about money circulation in this current industry, you will understand very well about the correlation between bitcoin dominance and crypto market capitalization.
Let me explain it to you about this logical thinking again. If the bitcoin dominance has reached the top and we see a possible drop on this dominance in the future, this will mean a shifting capital from whales which switch their investment from bitcoin to altcoins. And if this happens, it means that the money outflow from bitcoin will become the money inflow in altcoins because a lot of investors has switched their capital to altcoins. And if this happens, this will automatically increase the market capitalization on altcoins.
In this podcast, I will be focusing on the technical analysis on this altcoin market capitalization. Based on the chart, we can see there is a possibility of this market cap to forms a head and shoulders pattern which will end up with the drop on this market cap. I still believe that altcoin season will happen in near future, but there must be a mitigation if our analysis comes wrong and the price moves against our will. Personally, i will put a huge amount of money on altcoins when the market cap of this altcoins breaks out of the blue region. otherwise, I will be very cautious and try to play conservatively on scalping.
Just as you know the correlation of these important factors :
- Bitcoin dominance goes up, altcoin market cap goes down, altcoin price goes down and vice versa.
Thank you
Ethereum : Equilibrium on market and dominance on bitcoinHello fellas, Finally we get some moves on BTC and once again our analysis has met the precision here with a drop. I've warned you about the bull trap region and possible drop. At the time I made this post, the bitcoin dominance is standing at around 69.4% which is extremely high and not ideal for me. So, I believe in the near future, the dominance will throw over from current level and we will see a drop on bitcoin too. The biggest question is, what could happen on altcoin market? will it follow the bitcoin's drop? or will it moves against bitcoin?
Personally, I really think that current price of altcoin is pretty low and most of them has already touched the historical low. I really can't imagine if the price of that altcoin will drop from current level, it will be such a hell. I use only the logical think to represent my view on current market. Just imagine if the dominance of bitcoin decrease, this will mean there will be a money outflow from bitcoin to keep the equilibrium play in this major market and if there is a huge outflow from bitcoin investment, I do believe the money from big investors which is known as whales in crypto industry will fill in the altcoins space to help bitcoin decrease its dominance. This phenomenon will cause a negative correlation between bitcoin and the altcoin.
I choose to pick ETH as my weapon on this possible bullish scenario on alts because Ethereum is the 2nd largest crypto in this universe just under bitcoin in its rank based on market volume. I do believe in its project too.
And from the technical side, it is moving align too with my above statement. currently the price is playing in the break out cycle both on diagonal and horizontal levels and based on the RSI and MACD, I see the price is gaining strength with its bullish divergence on daily based. I need to see 1 more drop toward the white region and if this level can hold on the price, I will open a long position from there.
This will be a beautiful trade if I have all the confirmation is being met and you will feel how satisfied is with this profit.
Altcoin Season might be knocking on the door!! - Elliot Wave BTCElliot Wave Analysis applied to BTC Market Cap Dominance.
Waves I and II have been completed. In my count Wave III has not completed its 5th leg up yet. If we get to the 1.618 fib extension of Wave I to II and market dominance level gets rejected at this point, we will probably enter Wave IV, which could lead all the way down to the green trendline. Playtime for the SHITCOIN bagholders!!!
ALTCOINS MOONTIME SOOON
BTC dominance macro-view:
Now we will close BELOW monthly MA resistance which is an incredibly bearish sign for bitcoin dominance and also we will close below the MAIN support line which now will switch it to be a strong strong strong resistance
MACD (momentum) still going down and hope to switch to the bearside to have a beauty altcoin season
Bear cross at stochastic rsi
First target is : 50.92% and second 43.53%,There we have some support line.
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