Altcoin season may be approaching as per Elliot Wave.

neonshium

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Quote from: nidimitrov88 on April 26, 2019, 10:26:54 AM

This chart is the Total CAP of ALTS without BTC.
As you can see we have a bullish pattern forming which could be the 4rd wave down.
If this play out,we expect the Final push on alts in the next 1-2 weeks.
There is a connection between BTC and Alts, if you remember after the biggest push in 2017, Alts first were bleeding, and after they started their way up, this could be the same.
As always wait for confirmation.

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Your analysis has 90% of truth in it, most altcoins are fond of increasing when bitcoin goes sideway, and that is what led to their spike after the bull run of 2017, but I don’t think we should be expecting anything from altcoins anytime soon.

Using this analysis available to us which can also be confirmed through your statement, altcoins increase relies of BTC consolidation and we don’t expect any consolidation from BTC now till after its bull run which will not be this year, we still have the halving scheduled for May next year, after which the full bull run will be seen, so any spike in the value of altcoins is not expected until next year.

BlueStackz

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Quote from: starblocks on May 01, 2019, 10:32:32 PM

There does appear to be a pattern forming although history doesn't always repeat itself and currently there's a lot of new capital waiting to be invested that is relying on the performance of Bitcoin first and foremost which if it does well and holds above key support then the alternative market will likely spring back to life so if you're optimistic about these indicators it might be an ideal time to look for good value buys but make sure you choose good quality assets

In addition to what you have said , when picking quality assets, I think one need to focus more on the projects that has already been developed to some extent and already showed us that they can move the market. Most of the projects we have now that sounds quality to the heart end up becoming a very weak one when they get money donated to them.

The investors with lot of new capitals are waiting but have not seen any promising project to pour in theses capital into, and since Bitcoin is the most reliable project for now, they would rather put in this capital into bitcoin, so BTC might still be the best bet in making some of these altcoins increase overtime.

starblocks

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There does appear to be a pattern forming although history doesn't always repeat itself and currently there's a lot of new capital waiting to be invested that is relying on the performance of Bitcoin first and foremost which if it does well and holds above key support then the alternative market will likely spring back to life so if you're optimistic about these indicators it might be an ideal time to look for good value buys but make sure you choose good quality assets

TomArayaSlaya

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I really hope that will be the case soon i will keep tab on the next few weeks to come and i really hope thing finally work out as the altcoin division have bleeded really well enough to deserve a simple green for me not necessary the whole scenario of bullrun am ok having a green ecosystem that will have some amount of stability to start with

Adriano2010

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I also don't think the altcoin season start yet, but i think is a good sign that the price of bitcoin grow and some altcoins follow, and i think we can have a bull run before next year halving.

Osarman

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Well, I don't still think the season of altcoins is here yet, one thing I know for sure is that the price of bitcoin is tired to altcoins and we would have seen this had it been the dip lasted for a long time, but we quickly saw a recovery in price after some few hours, this doesn't mean that altcoins are not connected to the price of bitcoin anymore, we would soon see this when the bull run begin to happen again.

jossiel

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Quote from: gantez on April 26, 2019, 11:11:05 AM

What I think is that bitcoin price do make an impact too with many altcoins especially the decentralized.

He just said that.

Quote from: nidimitrov88 on April 26, 2019, 10:26:54 AM

There is a connection between BTC and Alts

I'm not good in technical analysis and chart reading but just looking at the pattern. From the past years, there's significance from where we are going right now. It has to dip first before pushing through a better price to reach the ceiling.

gantez

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What I think is that bitcoin price do make an impact too with many altcoins especially the decentralized. So I don't need to restudy Elliott waves as far as bitcoin and altcoin is concern. It always fellow each other. An increase in bitcoin gets me thinking of altcoin to buy .

nidimitrov88

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This chart is the Total CAP of ALTS without BTC.
As you can see we have a bullish pattern forming which could be the 4rd wave down.
If this play out,we expect the Final push on alts in the next 1-2 weeks.
There is a connection between BTC and Alts, if you remember after the biggest push in 2017, Alts first were bleeding, and after they started their way up, this could be the same.
As always wait for confirmation.https://imgur.com/6AmnlZQ

Let me know what you think and join our free telegram group where we post regularly - t.me/GalaxyTrading
Or also participate in our giveaway until the end of the month - https://twitter.com/GalaxyTraging/status/1120635573302124544

Topic: Altcoin season may be approaching as per Elliot Wave. (Read 217 times)