BTC.D Giving Signs for AltCoin BULLS

Apr 25, 2022

Weekly Downtrend: If we look at the Weeklies, BTC.Dominance is clearly in a downtrend since the beginning of '21 with more and more adoption of ALTs. Then we may see a Descending Triangle Chart Pattern forming since the BTC Crash in May '21.

Lower Timeframe: In a shorter-term perspective, we may see BTC.Dominance ranging in the 41.3% - 42.1% range since early this month of April.

At the time of post, we are at 42.02% and there is a higher possibility BTC.Dominance reversing at resistance and going down to the 41.3% lows or even breaking down below 39%.

This is great time to look for any LONG opportunities for Altcoins (look at bitcoin dominance cycle) as this is a very good confluence and we have seen many ALTs reaching the bottom.

https://www.tradingview.com/chart/BTCUSD/pUghSPcv-Complete-Guide-to-Bitcoin-Dominance-Alt-Season-Cycles/

Apr 26, 2022

Note

Reacted slightly against the resistance I mentioned, now retesting again at around 42%. BTC showing signs of recovery and if does recover and retest 43k, we may see some nice gains for Altcoins.

Apr 26, 2022

Note

BTC dropping hard and BTC Dominance also dropping. We should expect "stable" for altcoin as per the 2nd last row of the BTC Dominance Cycle.

I still agree with this table as we have seen BTC dropping around 5% and alts also doing the same in terms of % drop. (usually alts drop 2-5 times harder, depending on the alt mcap)

Should we accumulate our Altcoin? IMO, yes because i mentioned we are reaching the alts bottom and now here we are, very much at the bottom at the time of this update.

Apr 28, 2022

Note

Looks like BTC.Dominance is trying hard to break the resistance as shown. Still no confirmation and I am still looking for opportunities to buy more Alts with SLs as the market now is very dangerous to be in. If we go up, we go up strong and vice versa.

Opportunities to short will be present once we see a confirmation on BTC and other Indexes.

May 17, 2022

Trade closed: target reached