Altcoin Dominance, Others.DHello
Continuing to answer the question of where Altcoin capitalization will go by the end of 2020, I would like to use the H4 and D framework charts
Currently, After a capitalization growth from 1% in 2016 to a peak of 12%, Altcoin has gone through 3 phases of growth and decrease, as follows:
Running 3 corrected waves from 12% to 4.7% in December 2017, wave A, span 2, frame D4, uptrend of capitalization, correction span to Fibo area 68.4%, hard fibo mark of wave II and difficult to overcome. this
Continuing 2 beats of wave B (Wave B complex running Flat), with a beat from 4.7 to 12 then down to 4.7
Currently, the last 5 up waves in wave B are corrected from 4.7 to 12 again. The period at the time of writing is that wave 4 has just been calibrated, now at rhythm 1 wave 5 this cycle lasts from now to the end of 2020.
Predict the future:
Short-term
Altcoin will rise continuously to the fibo mark above the top of the last rally, hit the target and go down. Refer to the article on the Channel
Mid-term
The market in early 2021 will have a very fast and strong corrective wave to 4.7 again, expected in February - March 2021, then very quickly regain growth and skyrocket to 22% and even high. more.
Long-term
Altcoin is in the longest bull wave ever in terms of capitalization, the market becomes more active and interested in Altcoin more, the market cap may peak at 40-50% of total capitalization. market
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All transactions need to place Stop loss, this article reviews about the trend, and for which trading codes you need to consider each chart.
Sincerely thank you
Altcoindominance
ALTCOIN DOMINANCE BOUNCE!I believe Altcoins dominance may hold support at where these 3 weekly moving averages the 21, 50 and the 200 are converging at the same time, pretty amazing that its wicked up from them. Altcoins may rally soon so buy some good ones that are trending up, #POWR #AION $POWR $AION, HODL my friends, HODL!!!!!
(BTC.D) Altcoin Dominance Eyeing Up A Breakout to 40%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.
Previous altcoin dominance TA:
Altcoin Speculation Coming Soon... (October 2019)
Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)
Altcoin Speculation Coming Soon...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
Altcoin Dominance Bouncing From 0.382 Fib Retracement 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 20 MA to the 50 Month MA.
Related altcoin dominance/market analysis...
Altcoin Dominance Retesting 200 Week MA. Bounce to 40% Incoming?
Altcoins Bouncing From 200 Week MA after TD Sequential 9
Altcoin Dominance Retesting 200 Week MA. Bounce to 40% Incoming?Is this the start of another alt season? Altcoin dominance needs to close above the 200 Week MA at 30.65%. Despite the downward trend of the 20, 50 and 100, the 200 remains in a bullish posture trending upwards. Is Bitcoin going to sell off and profits go towards altcoins finally? MACD is looking to bull cross soon, the RSI is leaving oversold territory after three months of being oversold, monthly RSI has been finding support at 40.
The altcoin market has otherwise found support from the 200 Week MA in recent weeks :-)