Bitcoin is breaking out of the symmetrical triangle and showing major signs of strength, so we can expect to hit a new all-time high in the short term! Bitcoin was struggling in the past weeks compared to the stock market, but this should end!
Why do I think that the alt season is starting? To answer this question, we need to look at the BTC.D (Bitcoin dominance chart). if BTC.D goes up, that means money is flowing out of altcoins to Bitcoin, and when BTC.D goes down, that means money is flowing from Bitcoin to altcoins. And we want BTC.D to go up! So what is the chart telling us?
First of all, this is not exactly BTC.D on TradingView, but this is BTCDOMUSDT.P. I think this chart may give us a better outlook on the dominance at the moment. So what we can see here is that the long-term trendline is breaking down, that's a pretty rare event.
That's definitely great news! Time to buy some altcoins and prepare for a bullish altcoin season. I would say forget about Bitcoin and a 5% profit; let's buy some altcoins, and I want you to tell me in the comment section, what altcoin do you believe in?
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Why do I think that the alt season is starting? To answer this question, we need to look at the BTC.D (Bitcoin dominance chart). if BTC.D goes up, that means money is flowing out of altcoins to Bitcoin, and when BTC.D goes down, that means money is flowing from Bitcoin to altcoins. And we want BTC.D to go up! So what is the chart telling us?
That's definitely great news! Time to buy some altcoins and prepare for a bullish altcoin season. I would say forget about Bitcoin and a 5% profit; let's buy some altcoins, and I want you to tell me in the comment section, what altcoin do you believe in?
Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Trading tip at the end: Learn to bear losses - A trader needs to accept the losses to maintain their emotional stability. Losses are a crucial internal part of trading that helps traders to learn how to grow from their losses. Traders learn from losses and implement required changes in their strategies for better results in future trades.
Note
Bitcoin has pumped as expected, but the price still didn't hit the top of the channel or 113,000 USDT! That means we are going to go higher, only there is an intraday pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
💡Join my VIP group (signals, my trades)
xanrox.org/premium
✅Trade crypto here: All countries + no KYC
t.ly/5SUp9
xanrox.org/premium
✅Trade crypto here: All countries + no KYC
t.ly/5SUp9
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.