Life Changing Alt Season Brewing
This week I want to turn our focus away from bitcoin and start looking at what is coming in the alt coin market.
We will take a look at BTC.D and some of the top signals we are seeing. Additionally, we will cover the OTHERS chart and show you why we are on the precipice of another life changing opportunity.
Finally, we show you why this market is not yet overheated and why our next inflection date is of increasing significance.
If you’re wondering if now is the time to invest in bitcoin or how to position for an alt coin mania you are going to want to read this.
Bitcoin Weekly
There isn’t much to say about BTC here other than everyone is calling for top signals but the weekly would suggest that this market is not quite overbought just yet.
Looking at the historical RSI levels it typically needs to get to at least 80 for a weekly pullback especially at this phase of the cycle.
Read our report from last week for more.
BTC.D Monthly
Bitcoin dominance is a different story.
Many of us this week we have gotten text from friends and relatives asking us “should I buy Bitcoin?” or “Is it too late to buy bitcoin”
That means that the mob is piling into BTC and bitcoin dominance is about to crater. We have had MSTR a stock explode due to Michael Saylors heavy buying of BTC.
We have had Jim Cramer say now is the time to buy BTC
I have overheard many conversations in public about BTC price nearing 100k.
All of this means that people are fomoing into BTC right when it’s time to buy alts.
If we look at the bitcoin dominance cycle, like clockwork we have 36 months from the low of the close to when it falls off a cliff. This just so happens to coincide with ETH breakouts and a December seasonal pattern.
BTC.D Weekly
Same thing if we look at it on the weekly. Huge weekly hidden bearish divergence happening over a 60-70 week window.
Lastly, we notice this pattern shared by TechDev. Each time BTC has made a new all time high followed by 3 consecutive weeks in the green we see a major drop in BTC.D and ALT season begins.
That is exactly what just happened on the most recent weekly close.
