Alt season If Majors ETHBTC and LTCBTC Can Clear Resistance
The last 18 months any time alt season gets mentioned people go crazy, buy up alts only to watch them dump. Other than a good LTC run and a few quick pumps on other coins, there hasn't been a wide open alt season in a long long time. Some say we won't get one. Actually a lot of people have given up. That gets me more interested.
I think there is too much money to be made with alts so down and BTC dominance so high so as BTC goes into a sideways consolidation, it would be good time to see alts recover a bit.
I would like to see a few things before I get too crazy.
1. Like to see LTCBTC and ETHBTC fully reclaim their break down lows with daily closes. Even better if we get a test of that resistance and flip it to support, but decent volume green candle would be fine
2. I would like to see multiple majors go off. So BCH, EOS, XRP and several others. Not necessarily all of them but would want to see more of an alt market boom
3. Generally would want to see BTCUSD go into a low volatility range, which might be what is happening now.
I think BTC is starting to calm down a bit. Might do a bit more sideways and then drop lower. In particular, if that happens I'd like to see ETHBTC do well and see ETHUSD continue to hold this $200 level. That drop might might be the catalyst to trigger... ALTSZN
That said.. here's a warning. If we just tested the break down and can't get past resistance, then there is plenty of room for these to tank lower and if BTC finds support here and starts turning up, alts probably have to wait.
I think there is too much money to be made with alts so down and BTC dominance so high so as BTC goes into a sideways consolidation, it would be good time to see alts recover a bit.
I would like to see a few things before I get too crazy.
1. Like to see LTCBTC and ETHBTC fully reclaim their break down lows with daily closes. Even better if we get a test of that resistance and flip it to support, but decent volume green candle would be fine
2. I would like to see multiple majors go off. So BCH, EOS, XRP and several others. Not necessarily all of them but would want to see more of an alt market boom
3. Generally would want to see BTCUSD go into a low volatility range, which might be what is happening now.
I think BTC is starting to calm down a bit. Might do a bit more sideways and then drop lower. In particular, if that happens I'd like to see ETHBTC do well and see ETHUSD continue to hold this $200 level. That drop might might be the catalyst to trigger... ALTSZN
That said.. here's a warning. If we just tested the break down and can't get past resistance, then there is plenty of room for these to tank lower and if BTC finds support here and starts turning up, alts probably have to wait.
Kommentar:
If you look at these they never regained their support. With BTC recovering this probably won't happen anytime soon. At this point, you really just can't buy alts until they confirm a bull trend, even if you miss the low. Otherwise, its just a stop run after stop run.
