Altcoin Season About to Explode!?

9 בספט׳ 2021

Bitcoins dominance is really showing struggle with its continued fall and i think we could be looking at a bigger push down coming soon, we have held up on the 40.5% level but we wicked down to another support level at 40% the previous altseason in 2018 saw a BTC fall to just below 35% for the peak of the alt cycle and i personally believe we could see a bigger altseason for many reasons but to name a few, huge institutional investing, much more exposure to altcoins, and millions and millions of new crypto investors. Looking at the bollinger bands as talked about in my last TA we in and out of grabbing onto that bottom band and once we do i think we are bound to break these 2 support levels, the market may fall initially but it will get less and less for altcoins as the dominance goes lower and afterwards we can expect altcoins to start flying. The RSI remains in a confirmed downtrend and is back into the "oversold" area, but i don't see us getting up above the midline anytime soon we are quite a ways away and i think altseason is growing, The Stoch RSI is actually on a move upwards but we are seeing the blue ma loosing steam and starting to come back towards the orange in what looks like a soon to be bearish cross! Not financial advice just my opinion!