What does MA200 tell us about BTC.D and altcoins ?
Hello everyone,
I would like to show you another reason, why I think altcoins are not "dead".
If you take a look at left side of the screen (BTC.D - Bitcoin Dominance)
You will realize the MA200 (MA - moving average is commonly used with time series data to smooth out short-term fluctuations and highlight longer-term trends or cyclesis pointing) is pointing DOWN on the Weekly chart.
meanwhile on the other hand
If you take a look at right side of the screen (Total2-Crypto total market cap exclude BTC)
You will realize the MA200 is pointing UP on the Weekly chart.
Volume also shows, that Bitcoin to altcoins trades are increasing and its huge last 4 weeks.
Keep please also in mind that BTC.Dominance trend probably finished its Eliott Wave cycle (W1-5)
*******************
If you appriciate my work efforts I would appriciate hitting the like button from you for this TA
&
If youre in doubts or have any questions then feel free to ask in comments below the chart.
Wish you all nice Weekend
Cheers
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Risk Disclosure
DISCLAIMER: This is not a financial advice ! Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor. The valuation of asset may fluctuate, and, as a result, clients may lose more than their original investment. Investing will have impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. As an investor, it's crucial to know how much of your money you could lose and what circumstances could cause this to occur. Always do your own research and think twice before you invest.
I would like to show you another reason, why I think altcoins are not "dead".
If you take a look at left side of the screen (BTC.D - Bitcoin Dominance)
You will realize the MA200 (MA - moving average is commonly used with time series data to smooth out short-term fluctuations and highlight longer-term trends or cyclesis pointing) is pointing DOWN on the Weekly chart.
meanwhile on the other hand
If you take a look at right side of the screen (Total2-Crypto total market cap exclude BTC)
You will realize the MA200 is pointing UP on the Weekly chart.
Volume also shows, that Bitcoin to altcoins trades are increasing and its huge last 4 weeks.
Keep please also in mind that BTC.Dominance trend probably finished its Eliott Wave cycle (W1-5)
*******************
If you appriciate my work efforts I would appriciate hitting the like button from you for this TA
&
If youre in doubts or have any questions then feel free to ask in comments below the chart.
Wish you all nice Weekend
Cheers
------------------
Risk Disclosure
DISCLAIMER: This is not a financial advice ! Cryptocurrency trading involves substantial risk of loss and is not suitable for every investor. The valuation of asset may fluctuate, and, as a result, clients may lose more than their original investment. Investing will have impact on your trading account and this can work against you, leading to large losses or can work for you, leading to large gains. As an investor, it's crucial to know how much of your money you could lose and what circumstances could cause this to occur. Always do your own research and think twice before you invest.
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IF YOU LIKE MY WORK, THEN PLEASE CONSIDER GIVING A THUMB UP TO SUPPORT ME & hit follow so you dont miss any of my new ideas.
Thanks
quick update on the long situation