Bitcoin 2024 top and what the dominance of the altcoins saysThe Bitcoin chart gets a lot of attention, but I wanted to look at (others)% dominance, especially since it's not just Bitcoin that is running the market anymore. Altcoins have had bigger and bigger impacts throughout the cycles, and I'd wanted to see what the patterns in the overall altcoin market would say about the recent cycles' similarities, I must say I was a little surprised especially that Altcoin season, also marks the support for the upcoming bear markets in every cycle until now.
OTHERS.D trade ideas
Alt Dominance about to BreakoutThere's a falling wedge with a failed breakdown on the 3 day chart. That failed breakdown highly increases the likelihood of a successful breakout. RSI has been diverging from price, and that divergence recently strengthened.
Bitcoin dominance recently bounced from the top of an expanding wedge and looks like it wants to head down, finally making its new ATL:
Could this be the time for alts to make strong gains against Bitcoin before the next halving run begins?
ALT COIN SEASON! - #ALTSEASON ALTCOIN Dominance VS BITCOIN/USD.
- Showing synergies between 2019 - 2020 BTC/USD CYCLE.
*Identifying the relief rally - followed by a 70% correction.
This chart shows how Altcoin dominance performed..
During the relief rally Peak - Followed by the 70% correction.
liquidity transferring from the King currency by MARKET CAP (BITCOIN) to smaller
Altcoins
- Projecting synergies for 2023 - 2024 BTC/USD CYCLE.
*Identifying the relief rally 2023 and projections for 2024.
This shows current market price of BTC and current ALTCOIN performance.
*percentage % and days it took to reach similar performance.
Something to consider over the winter season as Santa clause rally comes to an end.
Today we have BITCOIN + ETHERUEM ETF Hype leading into January.
But also countries on the brink of a recessionary Awakening.
*This chart show's how Altcoins could perform if we see BTC take the same 70% correction.
*If BTC Broke out of this very identical relief rally strong enough to disregard 2019 - 2020 cycle repeating... we could expect Altcoin dominance rally much higher. Potential ETF's could be the catalyst!
Hope you find this useful..
Wishing everyone a BULLISH NEW YEAR!!
In the meantime - ENJOY THE FESTIVE SEASON..
MERRY CHRISTMAS TOO EVERYONE!
The Others- So you have BTC.D, ETH.D and you have also " The Others".
- There's plenty of other fish in the ocean.
- This is just a Fibo analysis but a bit advanced chart.
- Make your own diligences and learn about fibonacci trading strategy.
- All Fibos retracements and extensions are annotated in the chart.
To keep it basic like always :
- the most interesting thing to follow right now in this chart is :
- " The Yellow zone making a Triangle ".
- Be confident and Hodl steady.
Happy Tr4Ding !
BTC Bull Run (2021 vs 2023)A comparison of the position of the chart when Bitcoin rises in 2021 and the extent of the impact of the acquisition on the market when it falls after the rise to the same current price areas of 43k.
While thinking, I received an alert notification from Trading View with news that intersects with the current thinking
News About at tradingview
and it is from cryptopotato cryptopotato.com
Author: Chayanika Deka
It's (others dominance) daysas we can see the pattern is reversed H&S, which is mean we will be bullish on others dominance for almost next couple months. and the latest update of BTC on my profile i just mentioned we can see 40-42k just as touch. so after breaking the resistance 38500 for BTC the others dominance will blow up.
Be Happy Like a Hippey
The same view as beforeDominance currencies will face a sharp and rapid decline in the coming period, and it will be the last to build a bottom on which to base the rise that follows for a long period.
Clarification: Currency Dominance is an indicator that shows the percentage of currencies’ acquisition of liquidity in the crypto market and indicates the rise or fall of currencies as a general indicator.
Please clarify that I am helping you with my point of view, which may be right or wrong, and see my previous analyzes of many currencies and forex in order to judge the owner of this analysis with a more accurate look
Good luck
Market Cap Others Dominance (Bullish scenario)On this time frame Others.D retraced to an important support level.
This forecast is a "long-term" prediction, ALTs accumulation period
If this chart starts to reverse this month, according to "plan"
We can anticipate the beginning of the big-alts-bull-market >FEB 2024
Analysis of the general status of the OTHERS.D✅ Dominance of other altcoins is suffering in an important range and is located exactly below its medium-term downward trend line and 10% resistance.
Breaking the downward trend line and 10% resistance will lead to growth up to the levels of 11.6 and 12.3, which will lead to significant growth of altcoins.
The upcoming support of Dominance Altcoins is 9.55 and 9.2.
Time To Buy Your Favorite AltcoinsThis might be the most important TA I did for this year.
I firmly believe that altcoins have been consistently undervalued in comparison to BINANCE:BTCUSDT and $BINANCE:ETHUSDT. As evidenced by the recent data from early June, altcoin dominance plummeted to ~8%, finding support at the bottom of a falling wedge pattern. At that time, I identified it as an excellent opportunity for accumulating altcoins, a phase which I believe we are currently concluding.
Looking ahead to the next two weeks, I am optimistic about witnessing a breakout from the wedge pattern, initiating a new upward trend for altcoins. It's worth noting that the apex of this wedge occurred approximately 550 days ago, back in January 2022. With the assumption that Bitcoin has already reached its bottom and a new cycle has commenced, we still have considerable time until a new all-time high is established, which I anticipate to be roughly two years, leading from 30k to 60k.
At the same time, altcoins have yet to make significant gains. Achieving a 2x increase for a normal altcoin is not an extraordinary feat at this stage. What adds further intrigue is when we consider the previous cycle's duration (~1460 days, the length of a typical 4-year cycle). About 1400 days ago, during the summer of 2019, altcoin dominance began to rise. Just like then, Bitcoin took the lead as the first mover. And if history repeats itself, we will get the second and best entry point into altcoins when Bitcoin tries to update the price high near 69k, akin to what we observed in December 2020. Meanwhile, in between these periods, engaging in speculative activities with altcoins seems wise to accumulate additional sats before Bitcoin embarks on its wild post-halving rally.
Personally, I find achieving a 2x increase in sats to be a reasonable and achievable goal, but I remain open to surpassing that outcome if possible. Even if Bitcoin experiences a temporary dip, potentially dropping to 25k or lower (20k hehe), altcoins are likely to hold their value, and some may even outperform Bitcoin.
I must acknowledge the inherent uncertainty in timing, as each market cycle possesses its unique characteristics. Nevertheless, purchasing altcoins in the summer of 2023 remains an excellent strategy for long-term investors. My bags are nearly full, and I am happy with my execution. In the event that Bitcoin does dip to 25k or below, I am prepared with free funds to take advantage of buying opportunities. I wish you good luck and profitable results in your endeavors.
Alt Dominance with Stablecoins Dom RemovedHere's a look at CRYPTOCAP:OTHERS.D or Altcoin Dominance vs. itself, but without CRYPTOCAP:USDT.D and CRYPTOCAP:USDC.D
When removing the calculation of stablecoins dominance from the picture, the pattern looks less like a downtrend and more like a potential bottom that may soon reverse.
Most are not expecting this with the present rise of CRYPTOCAP:BTC.D , but this could occur should a metric ton of cash move out of stables and into Bitcoin and Alts.
Just a thought, please let me know what you think or how you might see things differently, and thank you for taking a moment to read through my own!
Note - the picture may look even more accurate if there was a way to track BUSD Dominance in relation to OTHERS.D
Just another,
-dudebruh