BITCOIN's BUBBLE ABOUT TO BURST?
ARE ALTCOIN's GOING TO ZERO?
COULD THIS BE THE DAWN OF A NEW ERA ON THE ALTCOIN's MARKET?
ALTCOIN's SEASON INCOMING? 5x MINIMUM ALTCOIN's PUMP ALREADY HERE?
Over the past few months, we've seen a steady rise in the price of Bitcoin while the ALTCOIN's market (ALT's/BTC) continues to bleed.
THE BIG QUESTION: When ALTCOIN's season?
However, taking a deep look at the Bitcoin dominance chart on the weekly, we just hit a major resistance.
While the weekly would be closing today, if we should succeed in closing above the "YELLOW" horizontal line which is at the 71.72 levels - then we are going to see a huge surge in the BTC price to the $36,200 levels which would in turn cause a massive capitulation in the ALTs market, perhaps another quick 50% drop in the Alts market.
Meanwhile, while the fate of market remains vague at the moment - and should we in any case close below the "YELLOW" horizontal line at the 71.72 levels then we'll see a "SCENARIO B" play out.
Considering the huge price surge over the months and the year coming to end, which would cause so many time frames to close - creating good price support levels to be tested before any further trend continuation. Scenario B is 70% likely going to play out.
Below the "YELLOW" horizontal line, would be a nice bullish ascending triangle pattern formed - that we're more likely going to consolidate in before the break out late March - Mid April 2021. In that cases, sequel to our last tweet - we'll have a case of Bitcoin coming down to the $19,500 or perhaps a quick capitulation down to our currently all time support at the $14,900 and $13,900 level.
And the aforementioned move, would cause a drastic move in the ALTs market. Here, some ALTCOINs would do a 7x pump and more - while Bitcoin consolidates and accumulates before the next major break out.
Overall ALTs/BTC Market Analysis:
On a bullish trend confirmation, the ALTs/BTC market would start rallying any moment from now and the first week of January - and a massive price upward price explosion that'll last till the first week of March.
OVERALL BULLISH PRICE ACTIONS CURRENTLY SPOTTED ON ALTs MARKET:
- Couple of bullish divergences spotted on short, medium and huge time frames.
- Some already breaking out from a long formed descending channels.
- Couple more bullish cases to be uncovered yet.
- 1 to 3 months.
- Today decides our fate, currently - the bulls already have 60% chances of taking over the ALTs market.
Trade Safe. ❤️💡