If this charts happens, its great but at the same time remember there has been a million right charts and a million wrong ones as well. If you are good enough, you can pick the perfect indicator for at the same time, if not you can literally find another example of what has happened before and what it looks now, compare them.
Just because one chart says something doesn't mean it will happen, doesn't mean its wrong neither, its just one way of looking at a thing that has a million ways to look at, if you are an expert chart reader, you can literally find a chart right now that is saying bitcoin will go down as well as go up. Hopefully, all the bull ones happens to be correct and all the bear ones happen to be wrong in the future because altcoins have been in downfall for way too long.
Topic: [Charts] Cyrpto Market Weekly MA Bullcross & Altcoin Dominance Looking Bullish - page 2. (Read 417 times)
January 23, 2020, 03:04:33 PM
January 23, 2020, 10:27:58 AM
For now, it seems the market is moving up and down simultaneously. Both Bitcoin and altcoins are rising and then both of them are also falling at the same time in retracement. Right now, in fact, Bitcoin and the major altcoins are all in red at the same time. Notwithstanding, I guess the overall market condition is geared toward a bullish season. But this is not going to be an exclusive altcoin bull run. Bitcoin is on the lead.
Yeah, the market is falling red at the same time and I can say that all altcoins will also follow in the footsteps of bitcoin in its movements, see after there is a little pumping altcoin also move what is possible now it can only be prediction of bitcoin?
And bitcoin can't last long at $9000, maybe it's just a correction?
January 23, 2020, 09:41:44 AM
For now, it seems the market is moving up and down simultaneously. Both Bitcoin and altcoins are rising and then both of them are also falling at the same time in retracement. Right now, in fact, Bitcoin and the major altcoins are all in red at the same time. Notwithstanding, I guess the overall market condition is geared toward a bullish season. But this is not going to be an exclusive altcoin bull run. Bitcoin is on the lead.
There's only selected altcoin who were not dead yet who rising in contrast with bitcoin's increase, but we'll have to be more careful by now. The situations was still not safe to buy while it's quicker to decline. It's always certain to study the chart, instead of relying on actual signals because crypto market will change randomly at any random behavior.
January 23, 2020, 08:34:17 AM
For now, it seems the market is moving up and down simultaneously. Both Bitcoin and altcoins are rising and then both of them are also falling at the same time in retracement. Right now, in fact, Bitcoin and the major altcoins are all in red at the same time. Notwithstanding, I guess the overall market condition is geared toward a bullish season. But this is not going to be an exclusive altcoin bull run. Bitcoin is on the lead.
January 23, 2020, 05:00:56 AM
Altcoin Dominance Eyeing Up A Breakout to 40% - Inactive Long
Source: TradingView, January 21st 2020.
Source: TradingView, January 21st 2020.
Update to above chart, just noticed altcoin dominance has confirmed a golden cross
Quote from: TradingView
50 & 200 Day Golden Cross on Daily chart, confirming bullish confluence with Weekly perspective:
Last seen February 3rd 2019 before dominance rallied 9.4% from confirmation to peak:
If early 2019 bullish move repeats itself, this would take dominance to 42%, the previous support and breakdown level that should now act as strong resistance.
Last seen February 3rd 2019 before dominance rallied 9.4% from confirmation to peak:
If early 2019 bullish move repeats itself, this would take dominance to 42%, the previous support and breakdown level that should now act as strong resistance.
January 22, 2020, 06:24:42 AM
Well I wanted to see if we can really break the MACD this week and stay bullish territory >60.
This is going to be critical as bitcoin is still on the bullish trend and it's effect trickling on the Altcoin market for the firs time. It might be tricky, but if we can pass it this week, it is a healthy sign that altcoin market is back.
This is going to be critical as bitcoin is still on the bullish trend and it's effect trickling on the Altcoin market for the firs time. It might be tricky, but if we can pass it this week, it is a healthy sign that altcoin market is back.
Just noticed the CMF is also at the same "critical levels", a move above 0.15 would result in the same buying pressure as in 2017 & 2018 periods. This is why I also wouldn't be surprised to also see altcoin dominance rejected at current levels rather than breakout, hence waiting for a breakout before longing any more alts. While probability points to further upside, if sellers get dominance rejected where it is now, it would be result in rejection from the neutral/bullish rsi and critical cmf levels, as well as look like a macd fakeout. This would also be very reminiscent of June/July 2016, where there was nice bounce, followed by another 6 months of consolidation, so wouldn't be out the ordinary either.
January 21, 2020, 06:03:09 PM
Well I wanted to see if we can really break the MACD this week and stay bullish territory >60.
This is going to be critical as bitcoin is still on the bullish trend and it's effect trickling on the Altcoin market for the firs time. It might be tricky, but if we can pass it this week, it is a healthy sign that altcoin market is back.
This is going to be critical as bitcoin is still on the bullish trend and it's effect trickling on the Altcoin market for the firs time. It might be tricky, but if we can pass it this week, it is a healthy sign that altcoin market is back.
January 21, 2020, 05:06:32 PM
Honestly, there should be no surprises that the alt market is this bullish.
Alts have been undervalued against BTC for a while now given the fact that even during the recovery, BTC rallied while alts stayed relatively the same level throughout.
Expect significant pumps coming from major altcoins when it comes to times where BTC is stable and isn't taking liquidity away from the alts markets. Bitcoin dominance could continue to slip for a while for sure.
Alts have been undervalued against BTC for a while now given the fact that even during the recovery, BTC rallied while alts stayed relatively the same level throughout.
Expect significant pumps coming from major altcoins when it comes to times where BTC is stable and isn't taking liquidity away from the alts markets. Bitcoin dominance could continue to slip for a while for sure.
January 21, 2020, 04:30:30 PM
Thank you for the post
i saw a good chart that shows the dominance of Bitcoin and the Dominance of alts
and it really looks like Bitcoin is going to go lower and alts are going to go higher by analysis
i really hope that its right since i am almost all in ALTS
i saw a good chart that shows the dominance of Bitcoin and the Dominance of alts
and it really looks like Bitcoin is going to go lower and alts are going to go higher by analysis
i really hope that its right since i am almost all in ALTS
January 21, 2020, 04:03:40 PM
Cyrpto Market About To Bullcross: 50 & 100 Week MA - Active Long
Source: TradingView, February 7th 2020. Screenshot: January 30th 2020.
Source: TradingView, February 7th 2020. Screenshot: January 30th 2020.
Similar to Altcoin dominance looking bullish , the crypto market total capitalization is close to it's two year long resistance downtrend line, with a 50 & 100 Week MA bull-cross anticipated in a week or two, as well as on a Green 3 TD Sequential. I'm skeptical this can be broken this week, but if there is continuing rising volume , it's becomes trade worthy (2.1 reward/risk).
A close above the resistance trend-line, with the Green 3 above the Green 2 would be a case for a move to the previous swing high around $332B. Breaking below $210B would likely lead to a fall to the recently created support trend-line at $200B. CMF is positive and rising, MACD is bull-crossing this week, waiting for RSI to break above resistance level around 55 and into bullish territory >60.
Altcoin Dominance Eyeing Up A Breakout to 40% - Cancelled Long
Source: TradingView, January 21st 2020. Screenshot: February 7th 2020.
Source: TradingView, January 21st 2020. Screenshot: February 7th 2020.
With altcoin dominance closing back above the rising 200 Week MA last week, confirming Bitcoin's long-term weakness in market dominance, "ALT.D" ( 1-BTC .D+99) has again held the 30% support a second time and is looking for a breakout above 33.75% with a target to 40%.
This would additionally be a TD Sequential trade on the Weekly chart with a Green 2 going above a Green 1, with oscillators ( RSI , CMF and MACD ) pointing to further upside. There will likely be some resistance and profit taking around the 50 Week MA around 35%, half way to the target, but I don't expect it to hold for long if volume continues to rise. The momentum would likely be too strong preceeding the confirmed trend change.
Reward/risk: 2.1
Entry: 33.76% - TD buy signal and and new swing high since July 2019
Target: 40.7% - Previous support level as resistance and 100 Week MA confluence
Stop Loss: 30.50% - Breakdown below the open of the 1 candle, 21 Week MA and into support range = bearish
To me, this is a perfect trade.
References:
https://www.youtube.com/watch?v=M3TzVgGyBFs
https://www.youtube.com/watch?v=7wBg1lBKtyg
Related Bitcoin TA: VPVR Part 2: Volume Point of Control $8,188 Now Turned Support
Previous Altcoin Technical Analysis:
Altcoin Speculation Coming Soon... (October 2019) - Active Long
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)) - Active Long
Altcoin Speculation Coming Soon... (October 2019) - Active Long
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)) - Active Long
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