BTC bottom and Alt season defined by Fibs
In this study, I will look at the ratios on BTC.D to define the bottom of BTC, and the start of Alt Season.
As BTC.D is showing signs of upside, exactly like it did after the 2017 top, indicating weakness for altcoins after this year's parabolic boom. Many alts went 30-100x, and it seems like it's time for them to consolidate.
This bear market seems to be rather exceptional, breaking S2F (temporarily?) because of general market weakness.
If Fib ratios would be held I will be looking at the 0.382 and the 0.618 levels for 1) the BTC low and 2) the start of alt season.
As BTC.D is showing signs of upside, exactly like it did after the 2017 top, indicating weakness for altcoins after this year's parabolic boom. Many alts went 30-100x, and it seems like it's time for them to consolidate.
This bear market seems to be rather exceptional, breaking S2F (temporarily?) because of general market weakness.
If Fib ratios would be held I will be looking at the 0.382 and the 0.618 levels for 1) the BTC low and 2) the start of alt season.