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Topic: [Charts] Altcoin Speculation Already Here? (October 2019 TA, Updated: July 2020) - page 2. (Read 774 times)

sr. member
Activity: 994
Merit: 257
Altcoins are not moving at all whatever happens. BTC is raising, altcoins are on the same point, or even falling. BTC is falling, the whole market crashes and altcoins are falling even deeper. I cannot even imagine what should happen to push alts forward.
Simple: The alt season can push the prices towards higher resistance price levels, even falling dominance can speed up this process. The higher dominance means there is no enough space in the crypto market cap for altcoin's uptrend capacity, the rising BTC will add more to this pressure due to the dominance. Crashing BTC is the worst nightmare of all altcoins, the recovery possibilities drop if money moves out of the market with low BTC prices.
When the market was going up during the beginning of this year there was a very strong hope for many investors that they will finally get what they had been waiting for years which is another altcoin season, but now that the price has been going down for months I think those hopes have finite disappeared since there is no way for the market of altcoins to go up when bitcoin is moving down or not moving at all, but I really expect that the next year is going to be a lot better for altcoins.
legendary
Activity: 1876
Merit: 1003
Altcoins are not moving at all whatever happens. BTC is raising, altcoins are on the same point, or even falling. BTC is falling, the whole market crashes and altcoins are falling even deeper. I cannot even imagine what should happen to push alts forward.
Simple: The alt season can push the prices towards higher resistance price levels, even falling dominance can speed up this process. The higher dominance means there is no enough space in the crypto market cap for altcoin's uptrend capacity, the rising BTC will add more to this pressure due to the dominance. Crashing BTC is the worst nightmare of all altcoins, the recovery possibilities drop if money moves out of the market with low BTC prices.
legendary
Activity: 1680
Merit: 2212
Updated OP with latest screenshots & analysis + closer look at these charts. Sometimes you draw a random line and price follows it  Cool

hero member
Activity: 2604
Merit: 816
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Altcoins are not moving at all whatever happens. BTC is raising, altcoins are on the same point, or even falling. BTC is falling, the whole market crashes and altcoins are falling even deeper. I cannot even imagine what should happen to push alts forward.

Some altcoin is falling, but the other altcoin still trying to stay the price now, and some other altcoins are trying to break the higher rate. You can see that there are many altcoins are at the green candle after it was down yesterday, and many of the altcoins still struggle to get more attention from the traders. We will see another increase in the altcoin in the next week, and I hope that will give time to the altcoin to rise higher. Bitcoin itself is also trying to increase after the down, and we can expect that the domination of bitcoin will be back usual.
member
Activity: 364
Merit: 10
Altcoins are not moving at all whatever happens. BTC is raising, altcoins are on the same point, or even falling. BTC is falling, the whole market crashes and altcoins are falling even deeper. I cannot even imagine what should happen to push alts forward.
sr. member
Activity: 1582
Merit: 253
The alts support zone can also be broken down, so it’s better to wait until the growth begins, and then draw conclusions that it is better to buy. Not the best time to rush and collect a basket of alts.
true that you convey in a situation like this, investors must be smarter in taking advantage of every opportunity we get, we must be clever in looking at charts and reading speculations again again, it all depends on the beliefs and patience of investors themselves because the development of crypto or altcoin currencies no one can predict with certainty
legendary
Activity: 1680
Merit: 2212
OP updated with screenshots since the price movement of BTC down to $7.5K. Notably altcoins continue to gain dominance against Bitcoin, since the initial breakdown from the descending triangle. The further Bitcoin corrects, the more it is shedding it's dominance. Looks like blue chip altcoins are fast becoming a Satoshi safe haven...

Altcoin Dominance Bouncing From 0.382 Fib Retracement (18/09)


Bouncing from 0.382 fib retracement, altcoin dominance has broken above the 200 Week MA (29.65%), RSI now left oversold conditions and MACD about to bull cross. "ALT.D" ( 1-BTC .D+99) needs to close the weekly above the 200 MA to remain bullish , but otherwise the risk/reward is there for a trade to the 0.5 fib retracement (49.95%) and resistance level . This would be a trade on the monthly scale on the left with the price bouncing back from the 50 MA to the 20 Month MA (*).

(*) Correction included

An Updated Closer Look (24/10)

The total altcoin market dominance looks healthier which each week that passes, continuing to find support above the 200 Week MA (30.4%) and currently moving above the 21 Week MA at 31.8%. RSI is now leaving the bearish territory (40) while the CMF has nearly made it out the red, continuing to show bullish divergence. Considering the updated outlook of small cap dominance, "blue chip" altcoins may continue to become a Satoshi safe haven, continuing reading.




Altcoin Speculation Coming Soon... (04/10)



Source: Trading View, October 4th 2019

Despite the accuracy, for reference sake I've had to ditch this chart due to CMC re-calculations. As you can see, there is now a big gap that has formed, specifically soon after the chart was published, that's skewing the results despite the dominance already moving in my favor.

Smaller cap altcoin dominance is leaving the RSI oversold conditions (of less than 30) this week and is currently reading 31.73. This comes after nearly three months of being oversold after dominance fell below the 200 Week MA. The last time "Other altcoins" dominance spent this long in oversold conditions was at the end of 2015, for two months, before rising from less than a 1% to it's ATH above 15%. Altcoin speculation is coming...

Bullish arguments:

  • RSI leaving oversold conditions
  • MACD bullish crossover
  • CMF bullish divergence
  • Rising volume , 2x from Jan 18

An Updated Closer Look (24/10)

With the death cross (between the 50 & 200 Week MA) appearing on small cap altcoin dominance this week, confirming a long-term bear trend, it's worth tightening any stop losses on any small cap trades due to the possibility of a continued sell of. While the bear cross is a lagging indicator to confirm long-term trends, and the "price" could rally towards it (has often happens in Bitcoin) it's also bearish by default, similar to the flattening of the CMF.






newbie
Activity: 44
Merit: 0
Yea altcoins look good
but you need to know that they will do what people expect less
the market is highly manipulated and have a lot of room of going down
While you need to engage in a set of positions on Altcoins. The more coins you have, the better. I buy different coins and expect a good profit not earlier than in 1-2 years.

i like this point of view. i also think for the long term and keep buying a little every month.
it has 2 advantages
1. the longer there are low prices - the better
2. if price goes lower - i dollar cost average
legendary
Activity: 1680
Merit: 2212
Updated charts with this week's look, though not a lot has changed since last week in fairness.

  • Nice "dip buying" on small cap alts when below 5% market dominance, needs to continue to hold this level though.
  • Watch out for the 50 & 200 Week MA bear cross (on small caps) that is forecasted for next month. This is bearish.
  • Altcoin dominance closing above the 200 Week MA for the third consecutive week = bullish.



sr. member
Activity: 2002
Merit: 250


Nothing is yet true until coins grow exponentially. Bulltrap had been trapping those investors and were selling after seeing  the price dips more after some high rank users hills for it. This is nothing new so if RSI tells you its oversold, it doesn't mean investors are going to buy. You wait because in matter of days, its all going to be dumped on you.
and thats what made investors now being afraid of the situation because of this BullTrap that killing the small investors that only wants to gain atleast partly

whales are responsible of this trapping and we cannot do anything a they have the power  over us

and same reason why market is staying low when the truth is we have a chance last few months to make the bullrun constant
anyway just be careful and alert until the true bull comes
therefore we must have a good trading strategy so that it is not exposed to the whale trap,
indeed RSI cannot be a true role model, but it can help you,
sr. member
Activity: 1400
Merit: 269


Nothing is yet true until coins grow exponentially. Bulltrap had been trapping those investors and were selling after seeing  the price dips more after some high rank users hills for it. This is nothing new so if RSI tells you its oversold, it doesn't mean investors are going to buy. You wait because in matter of days, its all going to be dumped on you.
and thats what made investors now being afraid of the situation because of this BullTrap that killing the small investors that only wants to gain atleast partly

whales are responsible of this trapping and we cannot do anything a they have the power  over us

and same reason why market is staying low when the truth is we have a chance last few months to make the bullrun constant
anyway just be careful and alert until the true bull comes
legendary
Activity: 1680
Merit: 2212
OP updated with today's screenshot and overview for anyone following this analysis...

Updated Chart & A Closer Look (12/10)

Looking good so far, small cap altcoins holding up dominance this week. CMF getting close to positive with notable dominance dip support.



Source: Trading View (screenshot), October 12th 2019

hero member
Activity: 2744
Merit: 541
Campaign Management?"Hhampuz" is the Man
Seems altcoin marketcap now on support zone
And look loke this support is strong enough,,
So, we will see a reversal on alt marketcap soon
Although it is still at support levels, for the past few hours, bitcoin is still the coin with the fastest and best recovery force. That means the whole market is focusing more on bitcoin and the alts' season is far away.
We should be realistic and don't wait for the alts to come soon, let's look at the chart and trade carefully and disciplined. Only things like that help us earn money in a bear market.
there's no doubt that its Bitcoin who's the fastest in recovery on top chart,but looking below ranked 10 we can see some alts that showing good performance and no wonder that what he says true the strong support that some alts bringing is enough to say about market is in good condition now
Well this would be great for alt-coin holders .
This would be a good early christmas gift for all of us.
At least we would gain some profit and could add up to our pocket for the coming holidays.
its too soon to talk like that remember we have more than 2 months to go,and volatility is our enemy this far.maybe we need to be neutral first for the 2018 wont happen again
full member
Activity: 532
Merit: 100
PrimeDAO - An Adoption Engine for Open Finance
Seems altcoin marketcap now on support zone
And look loke this support is strong enough,,
So, we will see a reversal on alt marketcap soon
Although it is still at support levels, for the past few hours, bitcoin is still the coin with the fastest and best recovery force. That means the whole market is focusing more on bitcoin and the alts' season is far away.
We should be realistic and don't wait for the alts to come soon, let's look at the chart and trade carefully and disciplined. Only things like that help us earn money in a bear market.
hero member
Activity: 1400
Merit: 505
The main difference between the next market growth and 2017 is that now cryptocurrencies will not only have whitepapers.
What cryptocurrency are you talking about without white papers and if there is any white paper who is going to invest in those Tongue.

Projects in the next season of altcoins will grow due to the provision of work products and a wide user base. Altcoins are still a risky investment, but now the market is much healthier. Alts really have a chance to go to the Moon.
I really doubt we will have an altcoin rally like we used to see in the past, majority of the projects died in the last bear market and we might see the price moving forward according to the bitcoin market and not expecting any individual rally in altcoins.

However, the main criterion for the start of the altcoin season is Bitcoin domination decrease.
I highly doubt that bitcoin domination will decrease  Tongue.
sr. member
Activity: 1694
Merit: 268
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Well this would be great for alt-coin holders .
This would be a good early christmas gift for all of us.
At least we would gain some profit and could add up to our pocket for the coming holidays.
Are you so sure about this speculation? Try reading this article, there it is said that the price of Bitcoin can reach $5k at the end of this year, although I'm a little pessimistic this price can happen.
https://cryptotradernews.com/crypto-trader-pro/will-bitcoin-fall-to-5k-by-end-of-2019/
Everyone has the right to speculate with what they believe, I think in trading cryptocurrency we cannot make someone's mind as our reference in trading because what they say may not necessarily be true, if indeed you believe the price of bitcoin will decrease to $5,000, of course You have your own reasons.  Grin
 but I personally am very sure if bitcoin will experience a fairly large price increase in the future, moreover we know that halving day will again occur in May 2020 later and this could be the beginning of the rising prices in the future BTC.
sr. member
Activity: 1988
Merit: 283
The alts support zone can also be broken down, so it’s better to wait until the growth begins, and then draw conclusions that it is better to buy. Not the best time to rush and collect a basket of alts.
yeah i agree because its look like not really  safe to jump actually. And even now for sure  they are some investor again that gaining quick profits behind of this smalll progress ,wherein you know always the number one reason that can cause sudden fluctuation of the growth rate. So probably not really safe for now. And much better to wait specific information and more results to prevent another risky situation.
sr. member
Activity: 994
Merit: 257
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Well this would be great for alt-coin holders .
This would be a good early christmas gift for all of us.
At least we would gain some profit and could add up to our pocket for the coming holidays.
member
Activity: 345
Merit: 10
the tops coins are going to be on top who will shine of course. you will not notice the ones that shine lightly because they are too behind though. if those altcoin holders just dumped what they got earlier than the start of 2019, the earlier should we see the oversold altcoin situation and the earlier could there be if there will really be an altcoin season. XRP is holding its wall.

I don't see XRP really in good condition. but XRP might get a big pump or adoption if the altcoin season comes. I am interested in XRP, LTC, and XLM. but now I just saved the XRP. still need deeper research to invest more and in other assets.
sr. member
Activity: 1050
Merit: 252
I think it will be difficult if BTC still dominates, maybe ALT starts to show an increase in the past few weeks but that doesn't prove the ALT season will arrive, because BTC is still very high with its dominance, maybe after the next BTC halving, its dominance will decrease but it doesn't guarantee it will happen ALT season.

There will be selected ALTS like xrp,ltc,bch and more of them that will shine through when bitcoin dominates the entire market, but not with shitcoins. I wouldn't expect that ALT season will commence, but I do hope it will in the perfect time. Much better if my altcoin holding will be carried into domino effect of the entire crypto market, once real bullish run happens next year or following years to come.
While you are still in the process of finding out which coins that will exceed and follow the bitcoin bull, it's best to do your deep research and look for good
reason why the project will prosper. You need to specify which coins will bring good bounced back and strongly moving forward.
Many projects will completely failed and die better to make sure that you have the right one inside your portfolio so waiting will be beneficial for you.
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