When Do alts really start Exploding
The top chart is Total2 on Weekly, and the bottom chart shows BTC.D.
We can immediately make an observation based on these charts that Total2, i.e. The market cap of all the alts is rising over time and is moving in an upward parallel channel while BTC.D is moving in a descending triangle, which is a bearish pattern.
This tells us that over time the total alts market cap is growing, and they are stealing market cap from BTC.
How can we use this to our advantage?
Using some trendlines we can see what happens to Total2 when the BTC.D tapped the downward sloping trendline, the total2 went parabolic after that.
Using the same trendlines we can project when BTC.D is going to hit the top downward sloping trendline, the chart shows it falls somewhere around December end and first week of Feb.
The BTC.D read at that time should be somewhere around 57 to 58%, this is also in confluence with target from the BTC.D Wyckoff chart I have shared several times past.
The two ellipses in the chart show how I expect BTC.D to move up in the next couple of months.
Also, as evidence here are charts of some of the alts from the previous two bull runs highlighting what happened to them after BTC.D tapped the top trendline. (Which happened on 17th of March and 21st of December.
ETH
ADA
MATIC
There are many others you can look up yourselves.
All this is contingent upon Continuation of BTC Rally beyond 38K in coming couple of months.
We can immediately make an observation based on these charts that Total2, i.e. The market cap of all the alts is rising over time and is moving in an upward parallel channel while BTC.D is moving in a descending triangle, which is a bearish pattern.
This tells us that over time the total alts market cap is growing, and they are stealing market cap from BTC.
How can we use this to our advantage?
Using some trendlines we can see what happens to Total2 when the BTC.D tapped the downward sloping trendline, the total2 went parabolic after that.
Using the same trendlines we can project when BTC.D is going to hit the top downward sloping trendline, the chart shows it falls somewhere around December end and first week of Feb.
The BTC.D read at that time should be somewhere around 57 to 58%, this is also in confluence with target from the BTC.D Wyckoff chart I have shared several times past.
The two ellipses in the chart show how I expect BTC.D to move up in the next couple of months.
Also, as evidence here are charts of some of the alts from the previous two bull runs highlighting what happened to them after BTC.D tapped the top trendline. (Which happened on 17th of March and 21st of December.
ETH
ADA
MATIC
There are many others you can look up yourselves.
All this is contingent upon Continuation of BTC Rally beyond 38K in coming couple of months.
