ALTSEASON THREAD 2.0
This will be an update of the previous altseason explanation, where I will explain the reasons why a new phase of the altseason is likely to happen soon.
I will also post the invalidation points for this scenario.
Let's start! 💪
This will be an update of the previous altseason explanation, where I will explain the reasons why a new phase of the altseason is likely to happen soon.
I will also post the invalidation points for this scenario.
Let's start! 💪
2) Now Bitcoin is confirming the bullish scenario, and $100k and higher targets are likely to happen in the next few months. This would create the perfect scenario for people to get comfortable and start speculating on altcoins.
3) Let's update the charts that I use as ''indicators'' for the altcoin market.
-ETH/BTC
-BTC.D (Bitcoin dominance)
-OTHERS.D
-TOTAL2 and OTHERS market cap
-ALTPERP and SHITPERP (altcoins indeces)
-ETH/BTC
-BTC.D (Bitcoin dominance)
-OTHERS.D
-TOTAL2 and OTHERS market cap
-ALTPERP and SHITPERP (altcoins indeces)
4) $ETH/BTC (htf)
The bullish structure is still intact. Until proven otherwise, this is another higher low and the potential parabola hasn't been invalidated.
0.10 is the minimum target, but the flippening is very likely to happen during this cycle, at least for some days.
The bullish structure is still intact. Until proven otherwise, this is another higher low and the potential parabola hasn't been invalidated.
0.10 is the minimum target, but the flippening is very likely to happen during this cycle, at least for some days.
5) $ETH/BTC (ltf)
A range has been formed. The start of this range was a 3 wave move (correction) followed by a 5 wave move (impulse).
Consolidation below the range low could be a potential invalidation for the altseason, but I don't see it happening.
A range has been formed. The start of this range was a 3 wave move (correction) followed by a 5 wave move (impulse).
Consolidation below the range low could be a potential invalidation for the altseason, but I don't see it happening.
6) $ETH/USD vs. $BTC/USD
Also, if we compare both individual charts against the dollar, $ETH has more room to go, and it could reach $10k or higher this cycle.
Also, if we compare both individual charts against the dollar, $ETH has more room to go, and it could reach $10k or higher this cycle.
7) #BTC dominance chart (BTC.D)
Huge hidden bearish divergence showing up, and the green support is getting weaker.
In my opinion, it will take the 2018 lows (36.50%) and the altseason could end there.
Huge hidden bearish divergence showing up, and the green support is getting weaker.
In my opinion, it will take the 2018 lows (36.50%) and the altseason could end there.
8) #OTHERS dominance chart (OTHERS.D)
Currently above the range high atfter a perfect S/R flip. Minimum extension is 29%, so we can expect a big leg up.
Currently above the range high atfter a perfect S/R flip. Minimum extension is 29%, so we can expect a big leg up.
10) #ALTPERP bullish trend is intact too
It's also forming a potential cup and handle, whose minimum extension is very high. Maybe the w3 is starting here because many altcoins are starting their w3.
It's also forming a potential cup and handle, whose minimum extension is very high. Maybe the w3 is starting here because many altcoins are starting their w3.
11) Many individual charts also look bullish against Bitcoin. Some examples are the following:
$NOIA, $COTI, $FET, $ADA, $TRIAS, $BLZ, $SAND, $VRA...
I will update this thread with those charts, and also if this gets invalidated.
$NOIA, $COTI, $FET, $ADA, $TRIAS, $BLZ, $SAND, $VRA...
I will update this thread with those charts, and also if this gets invalidated.
Everything is ready for another altseason.
Question is... are you ready?
Question is... are you ready?
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