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Altseason is starting for real, fasten your seatbelts!Last Altseason in January 2017 (vertical green line) started 231 days (33weeks) after the previous halvening (vertical blue line). If we report that period to the actual cycle, Altseason is about to start... Now. We also saw recently a big rejection in BTC.D, forming a double top at 73%, with a bearish divergence with the RSI and a big engulfing candle in the daily. Nevertheless, there was a similar pattern end of novembre, but after a 10% decline, the trending continued from 61% up to 73%, with BTCUSD pumping up strongly at the same time. Yet, this time seems different, first of all because of this rejection on the BTC Dominance chart at a very strong resistance (73% BTC.D), and also because we see in parallel the Altcoins starting to rally in BTC value while BTC continues pumping up... Everything could still be ruined if BTC pull back down hardly. But if we check the BTCUSD chart, we can see that the very beginning of the last Altseason coincided with a 33% drop in BTCUSD value (end of February 2017). It is like the drop in BTCUSD triggered the last Altseason, like if traders and investors reallocated their BTC gains in altcoins... And that's exactly what we are seeing for the last few days... After the rally of the majors, we are now seeing a rally of the medium caps. Small caps altcoins are likely to start pumping now, and trigger therefore a new Altseason. Everything depends if we can go through the ATH in total marketcap (excludind BTC), we are very close to this resistance now. Fasten your seatbelt, I expect a 50X increase in MarketCap (excl. BTC) until end of 2021, if we follow a classic 4 years cycle pegged to the BTC halvening. In case of a lengthened cycle, I'd expect even more upside, maybe up to 200-300X from here, until end of 2022 then. Follow the blue dotted diagonal for the target. For the moment, my bet goes for a 4 year cycle and a 50x move up from here, it seems more reasonable. But who said the crypto market was reasonable?
CRYPTOCAP:TOTAL2Long
by Crypt0p0tat0
4
CRYPTO TOTAL MARKET CAP (Y20.P5.E2).What does it tell us?Hi All, I thought I take a look at the total crypto market chart and see if it gives us any clues to what's next. Observations: > Previous all time high in 2017, where BTC was 19800 (depending on the exchange) had a bigger market cap than now; > When BTC was at its ATH, BTC dominance was at its lowest? Opposite of today, so far; > BTC dominance seems to have a strong resistance around 68% level on a few occasions; > BTC dominance in 2019 made ALT (prior to 2016 there weren't many coins on the market), above 68% and ranged for a while, while BTC did a distribution structure; > Current BTC dominance is at 67.35% > On the chart, I have the weekly levels of the candle stick (body) resistance levels, total market cap did not hit target because of this drop; > As you can see, the BTC dominance historically has another level of resistance 72.8% which which occurred twice, but we don't know the relationship based on the chart; > MACD on the weekly total market cap is still bullish with upward pressure, however its a delayed indicator; This weekly closure could tell us if we are to have that big pullback; THOUGHTS or CONCLUSION: The total market cap is still falling short from the previous high, so much of the hype on BTC price doesn't really be backed by the total market cap, even though we have much more coins and much more maturity in the crypto space, the market cap could be a indication as to where the major resistance is, not the price of BTC or but the market cap ATH mark or the weekly resistance. For now, the red line of the weekly resistance could be the level where BTC might find resistance and have that pullback or at the all time high, double top resistance level on the total market cap. BTC dominance is likely to have a rejection or ALT season when it reaches 68% level or like previous times, at 72.86% That's what I'm taking away from this TA and keeping an eye out for. All the best traders, Regards, S.SAri PS. Yesterday I posted some observations with the general market and how BTC drop was in sync with the general market drop. Until we see it go up, or sideways, BTC will be in uncertainty territory.
CRYPTOCAP:TOTAL
by ssari
Total Market Crypto Cap - Head and shoulders + Triangle warning- Overall total market cap is not looking good right now - We can see this head and shoulders and also the descending triangle - 2 bearish patterns! - I expect lower prices, also as you can see, we finished our Impulse Elliott Wave - You can profit by this crash easily, just use futures market and enter a short position - I recommend SNX coin for example If you want more of these ideas, please hit the like button and follow me, so you don't miss any update! Also, check my signature down below ↓
CRYPTOCAP:TOTALShort
by UnknownUnicorn2537518
7