The situation BTC.DAlthough some Altcoins have grown well, it is still too early to start the season. The dominance should test the channel ceiling again. It is almost at MA 50 that this growth can be accompanied by a slight decline for the currencies that have been growing for this period.
To start the Alt Season, Bitcoin must remain in the side range (range) and lose the daily support 57.10% support, then it can be said that the Alt Season has started. And remember, even with a drop in dominance and a drop in bitcoin, there is no tool
Btcd
CRV TO INFINITY AND BEYOND!I Believe crv is in a cup and handle pattern. And has just seen a strong rejection from a key sr. Also on 11th and 5th of feb price tried to pass over the 0.618 fib level at around 3.64 however i believe in the coming days CRV will brake through this level!
however please keep an eye on BTC and BTC.D( bitcoin market cap dominance) as they will have a huge impact on price.
Bitcoin Dominance BTC.D - ALT SEASON STARTING!- We can clearly see 2 bearish patterns on the BTC.D chart
- Head and Shoulders with target around 66
- Bearish descending triangle with target around 63
- Wait for breakout below 68 to confirm both of these patterns
- If these 2 patterns breakdown = ALT SEASON!
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BTC.D Bitcoin Dominance - Elliott Wave + Parallel channel- BTC.D chart broke out of the main broadening wedge pattern.
- The price is currently below 0.618 fib, which is extremely bearish for bitcoin dominance chart!
- 0.618 fib switched from a support to a strong resistance.
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- I am expecting one more wave to the downside (5 blue) and here we will likely create a double bottom reversal pattern.
- We do not know the retracement of the 4th wave.
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BTC dominance dropping, ALT season?BTC dominance is dropping, which is surprising considering how bullish BTC is currently. Just shows how much money is flowing in to ALTS at the moment. 62.31 acted as resistance on the daily which later flipped to support. A closure under this level, which some consolidation on the BTC/USD pair, and we may see a huge rally for ALTS.
BTCD ANALYSIS / PREDICTION - RALLY vs ALT SZNImportant to keep an eye on Bitcoin Dominance. Alts have been doing great while it's trended lower, but now it's reached the bottom of a macro ascending triangle and looking for support.
I've outlined 2 possible scenarios.
One - BTCD rallies and continues to range in the pattern. Bullish for BTC, Bearish for Alts.
2. BTCD rolls over, and Altcoin season ensues.
Indicators on the 1D TF seem pretty bullish for BTC, at least in the short term, but we'll have to wait and see how it all plays out.
I don't think this bull run is over, but you have to shift focus from BTC to alts and vis-versa and keep an eye on BTCD and TOTAL2 market indices so you don't buy or sell at the wrong time.
happy trades
CD
BTC.D Dominance IndecisionBTC.D has been in a decision phase for long time and between 17-22 Feb BTC .D Dominance will decide what to do next, because right now BTC .D is between the descending triangle and it's support, it has been squeezed between there lately, so the decision will be between 17-22 Feb. If Dominance starts to rise and breakout the descending triangle , we will see BTC making new highs and ATH levels (only one condition, market should not go into deep correction). If dominance decides to fall under 60 percent, then we will have the real beginning of an altseason which Ethereum leads. The only condition is that market should not go into deep correction, and money should stay and flow within the market. So the TOTAL and TOTAL2 graphs should have been also considered between 17-22 Feb.
Bitcoin Dominance at Deciding ZoneBitcoin dominance is at deciding zone and there is a possibility of a Head & Shoulder pattern (H&S). The major support, for now, is 60% and if break below it we see massive altseason. A correction is needed in alts and also in Bitcoin dominance. So be careful in your trades and must use a stop loss.
BTC.D - Bitcoin Dominance returning to previous bottomBitcoin dominance is nearly at a free-fall. Meanwhile TOTAL 2 Marketcap (the total altcoin marketcap without btc) is at its previous all-time high. We may see a very nice rise in altcoins here for some time, especially should BTC Dominance confirm the expected head and shoulders pattern. I think this is likely having exited its channel strongly with a poor attempt at re-testing a re-entry near the bottom of that channel. Though a 2nd re-test is possible.
On the other hand, this may also mean we that are nearing the end of our bull run (within months).
Dominance Bounce Up Coming ? Btc.d #bitcoindominance #bitcoin itHere we see our daily Bitcoin Dominance chart .As you can see we broke red candles way below that regression channel ( the pink & blue box we were in ) and even broke below our green Ichimoku Cloud. We also hit a TD Sequential 9 in red ( those numbers you see under the candles ) and when we reach a red number 9 it usually means a reversal of trend is coming soon. Also we just touched down to our 200 MA ( dark blue line ! ) That's a strong support . And look at our rsi - it's down near 25 , so all indicators seem to say we will have some upside with Bitcoin. Does that mean it goes straight u ?NO ! Of course not ,This can take awhile and there can be many ups and downs along the way . And it's always possible this gets stopped at the top of the cloud near 68 but that will have to wait for further developments . Let's see what happens .
BTC Dominance - We found support! BTC Dominance has found support at around 62% with a very nice bullish candle today. Will this hold? I think yes since BTC price action is also looking bullish while ETH is a bit bearish lately, hence, a good setup to see BTC shine again. See my ETH and BTC ideas for that linked below.
The next resistance levels are on the chart, likely we can push pretty easily to 66%, after that we will see what happens.
If however we lose our support (dotted line) then BTC is in trouble, but that seems unlikely.
Indicators on daily are also starting to curve so another 2-3 green daily candles will re-ignite the bullish momentum on BTC dominance = BTC price goes UP and alts suffer a bit.
Lets see how this day ends and then re-assess later.
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Bitcoin Dominance (BTC.D) - Altcoin Season ComingUpdate from my previous Bitcoin Dominance (BTC.D) post where I called the 70.21% top and the wick of 72.04% before dropping, you can check it out in the related posts.
BTC.D didn't see a single candle close on the weekly over 72.04% which is very good in terms of altcoin season coming as it doesn't look like it's going to go any higher.
Previously in the fall of 2019, BTC.D also hit a high near the price it hit over the 2021 new year at ~72.04%.
This looks like a classic double top pattern and at the moment BTC.D looks like its holding this uptrend, but could break it and start falling like the price did in 2017 for the 1st altcoin season.
With coins like ETH/BTC popping off and making highs for the 1st time since 2018, this ratio looks very promising to dip. Also many other altcoins look like they're at their bottom & starting their reversal like LTC, XRP, XLM, etc.. to name a few. This is just an update from the post, called the top at 70.21% if it reverses down now.
If the ratio falls and we see an altcoin season, which could be a possibility now that Bitcoin is already up over 50% since hitting its ATH, it could chill out around $30,000 - $40,000 as these altcoins find their previous ATH prices.
Can't really trade the BTC.D besides understand the 'altcoin season index' but here are the levels i'm looking at for a reversal:
58.25%
53.30%
40.69%
35.75%
As always please do your own research, I am not a financial advisor.
Will we get an Altseason like 2017?We finished 2020 with steadily recurring ATH´s in the Bitcoin price all they way back from the beginning of fall. Will BTC now have to consolidate for further growth to be realised? I believe so. This can already be seen in the Bitcoin dominance chart BTC.D. Now would be a primetime to accumulate more profits by investing in altcoins relative to BTC.
These are my opinions only. If you want to invest in this market, make your own assessments in prior to investing.
As Altcoins become more complex, and more investors that comes into the cryptocurrency market realize their true potential, The bitcoin dominance is bound to fall significantly. As you will see in my analysis, there is a head and shoulders patterns forming. if it gets completed or not depends completely on the growing hype of the coming altseason.
We are currently in the weekly Ichimuku cloud. This makes it hard to predict wether we will break straight through, or if we will follow it upwards to complete the H&S.
After this, my first percentage target will be in the 63% range. If we break down from this my next targets will be based on heavy historic support lines being:
- 61,5%
- 60%
- 57,5%
And lastly our peak will be at the 52% range. Keep in mind this is a very bullish scenario. Sell at this point.
If this analysis helped you to make an asessment towards your investing portfolio, please leave me a like :-)
Feel free to comment if you have questions or additional information i have overlooked.
If you want my Altcoin recommendations please let me know in the comments
Have a nice day :D - T.E
ETH TOP 7TH FEBRUARY AND ALTS TOP 28TH FEBRUARY (COMPLETE)Here's an idea I had, it's all speculation but there could be some truth to it. Let me know what you think
2017 - 2018 BULL RUN
- BTC CME FUTURES open on the 18th December 2017
- BTC tops around $20,000 on the 17th December 2017
- Alts then dump for a few days after around -40%
- Alts then rise even harder from around 24th December 2017 to January 9th 2018 before topping
2020 - 2021 BULL RUN
- ETH CME FUTURES open on the 8th February 2021
Predictions:
- ETH tops around the 7th February 2021
- Other Alts then dump for a few days around -40%
- Other alts then rise even harder from around 14th February 2021 to 28th February 2021