Bitcoin Dominance (BTC.d) finishing wave IV
First, Bitcoin Dominance is bullilsh for altcoins.
Bitcoin Dominance does move in Elliott wave patterns. Which one might not expect, as it is a 0% to 100% chart of market caps.
Bitcoin Dominance (BTC.d) is finishing up a wave IV corrective ABCDE triangle pattern. Leading diagonals are not allowed as any of the legs of a triangle. But, I can't figure out a way around that, so just living with it, as the pattern overall seems clear. The E leg is coming up. It is common for the E to do an underthrow, so don't be surprised if it does not touch the line.
Then altcoin season starts when BTC.d plummets. How far down? I do not know, so I put a standard 1.0 to 1.618 fib (of the wave I) as possible end.
If you want to have some fun, copy this chart to yourself. I set it to "Share". And add TOTAL2 (choose separate scale). Then you can see how the altcoins react as compared to the BTC.d chart.
Bitcoin Dominance does move in Elliott wave patterns. Which one might not expect, as it is a 0% to 100% chart of market caps.
Bitcoin Dominance (BTC.d) is finishing up a wave IV corrective ABCDE triangle pattern. Leading diagonals are not allowed as any of the legs of a triangle. But, I can't figure out a way around that, so just living with it, as the pattern overall seems clear. The E leg is coming up. It is common for the E to do an underthrow, so don't be surprised if it does not touch the line.
Then altcoin season starts when BTC.d plummets. How far down? I do not know, so I put a standard 1.0 to 1.618 fib (of the wave I) as possible end.
If you want to have some fun, copy this chart to yourself. I set it to "Share". And add TOTAL2 (choose separate scale). Then you can see how the altcoins react as compared to the BTC.d chart.