🚨 Dominance of #Bitcoin still on this trendline.

Bitcoin Dominance Decline: This is when Bitcoin's share of the total cryptocurrency market cap declines, often because #altcoins s are gaining value or popularity more quickly.

Altseason: This is a period where #altcoins performs much better than #Bitcoin , with prices rising sharply for these cryptocurrencies.

PS: a decrease in dominance does not in any way mean a decrease in the price of #Bitcoin .

#Altseason Tick, Tock ⏳

BTC, Bitcoin's local setup is still holding, holding the local support zone. But still, now the main movement is following a medium-term setup, a medium-term pattern. Now the price is just below the middle of this pattern and below 60,000, there has been no consolidation below. The bulls have literally several days to return the level of 60,000 and go above the local resistance zone. Also, the local key zone is 62,000, where there is an open level. Let me remind you that many major players and traders are waiting for September 11th. US inflation data, which can be used to predict a future rate cut on September 18. Two key days in September! There is minimal time left. A market reversal is more than likely to occur during these dates. But don't expect that one candle will reach the highs in one hour! The altseason is 21 years old, the main part of altcoins went to the historical max. 8 months. And a number of other altcoins were moving towards a historical maximum of +-16 months (for example, LUNA). On this squiz, the whales actively bought Bitcoins and took them off the exchanges while the paper snot whined and sold their bitcoins.

the withdrawal from the exchanges exceeds the input - 40%, 17,000 btc

Altcoins, the month of September will be key, an additional set of altcoins will be closer to September 11th. It is on the dogosrok-the average day. The turnaround will be fast and many will bite their elbows. But there is still time and perhaps one of the last chances. Let me remind you that we are at the beginning of a new cycle!

https://www.tradingview.co.../

GlobaVTS, last night there was an attempt to break through the local resistance zone, which I wrote about earlier in the post. This is 60 000- 62 634 . There was a breakdown, but the fix will no longer be higher. But there is a chance to close the current daily candle above the 60,000 level. Locally, Bitcoin is trading between local support and local resistance - this is a local flat. Tomorrow there will be a report by Jerome Powell of the US Federal Reserve, MM manipulation is possible during the day. The local setup in the post dated August 20 is relevant.

withdrawal from exchanges exceeds input - correlation

Altcoins, yesterday many people noticed how altcoins were added at the moment. That's because there was an increase in Bitcoin in place with the growth of Altcoin Dominance, it increased quite a bit, but it was already very noticeable in numbers. Altcoin recruitment, no more than a month left. Maybe a little more. Many who wait below will remain observers in this cycle, which has just begun. And we are waiting for a significant growth in altcoins. It is clear that some altcoins have already shown significant growth in the medium-term pump, and will not show it in the altseason. Our porphyry will give a significant increase.

https://www.tradingview.co.../

BTC, the price is still holding the local support zone. To reach the upper limit of the pattern, a breakdown of 60,000 and a consolidation above is required. There is also a breakdown and consolidation of the 62,600 level. Let me remind you that Bitcoin has been inside the pattern for at least 4.5 months. And it trades inside it. The main movement in the crypto market. I expect 70,000-73,000 after the breakdown of the key resistance zone. Everything else will be just local movements.

withdrawal from exchanges exceeds input - correlation

Altcoins, market makers and whales have achieved their goal, many sell in the negative leaving the market. Many people no longer have faith in the crypto market, some believe that the cryptocurrency will go to the scam. All these are the stories of people who do not even understand the cycles and cyclicity of bitcoin and altcoins, including. I expect the start of growth in altcoins after the breakdown of 70,000-73,000 for bitcoin. Rates are more likely to be lowered in September. Which will give an impetus to growth. It is clear that this will not be a lightning-fast growth! Steady growth, and the price began to move up towards the altseason.

https://www.tradingview.co.../

BTC & ETH Dominance

➡️ A custom indicator that I created on Tradingview, and which allows you to follow the BTC+ETH dominance. Currently at very high levels, around 73%, having made resistance in October 2018.

👉 Of course, in the event of an altseason, this indicator will be interesting to follow, with historical lows around 58% which could allow us to time the end of the altseason
#Altseason2024

BTC, this is the second time Bitcoin has failed to return 60,000. The daily candle opened below 58,800, where there was a local support level. The next local support zone is 57 700-56 175. The price is more likely to adjust to this zone. Let me remind you that the medium-term pattern is currently being traded, see the chart. The pattern is quite wide, but still, the patterns are trading on a breakdown in one direction, below the medium-term support zone, this is the lower line of the pattern. The re-test of which is still quite feasible, but I do not expect below the Bitcoin support zone.

withdrawal from exchanges exceeds input - correlation
(for those who don't know what correlation is! In this case, it is 0 correlation or - the same thing. In this case, it tells us that the input output is the same.)

Altcoins, there is still a little time to buy or set positions. The US Federal Reserve is more than likely to cut rates on September 18! And it is even possible to immediately increase by 0.5%. Also, the beginning of growth in Altcoins, significant growth. I will expect after the breakdown of the resistance zone of 70,000-73,000 for Bitcoin. The beginning of the altseason will certainly be there. But do not expect that altcoins will immediately shoot up 100 x in one day. This will be the beginning of growth towards the peak of the altseason. The peak of the altseason does not happen in one day. The last peak of the altseason was in two parts. The growth began in September - October 20, and the peak was reached only later for some altcoins in February 21, for others in the fall of 21. This means that there has been significant growth for the whole year.
It will be the same in this cycle +-

https://www.tradingview.co.../

Are we finally going to see a clear drop in $BTC Dominance?

In any case, everything indicates that we are at a high point:
- Resistance on the September 2020 support
- RSI Weekly at 70 at the beginning of August
- Double bearish divergence of RSI over the last weeks
- The ETH/BTC pair which seems to have bottomed out and is rising again

Will we finally have an altseason?
To be continued
#Altseason2024

Boring without Altseason

💬 For Arthur Hayes, an altseason will ONLY begin when Bitcoin exceeds $70 ,000 and Ethereum exceeds $4 ,000.

For him, if these levels are reached, $SOL could reach $250 during this altseason.

“Altseason will only return after Bitcoin and Eth have decisively surpassed $70 ,000 and $4 ,000, respectively. The combination of a dollar-liquidity-inspired Bitcoin and Eth rally through the end of the year will create a solid foundation for the return of a sexy shitcoin party.”

https://cointelegraph.com/...

🚨 BITCOIN DOMINANCE 🚨

The dominance of BTC vs the rest of the market has been (almost) constantly increasing since November 2022.

➡️ Proof of the strengthening of the Bitcoin position among different investors

Currently around 57%, it is at its highest point in the current "cycle".

🎯 This increase is partly explained by the arrival of ETFs, but is also part of the "liquidity movement" through the different phases experienced by the market.

BTC dominance is a VERY important point to follow, because it has allowed in the past to "time" the launch of the BullRun and in particular the start of the altseason.

This is an indicator that should be kept in mind, not for a short-term vision but rather for the long term (week, month, year)

BTC, the local support zone of 65,000 was held. Bitcoin is on it right now. The local upward movement on the current ones is not broken. To continue the local upward movement, it is necessary to break through and consolidate above the level of 70,000, within a few days. It is also the level of the previous local peak. In any case, it's a matter of time before this happens, there's very little time left for MM and Whales to correct.

withdrawal from exchanges exceeds input - correlation

Altcoins continue to experience pressure, but their prices did not fall below the correction levels that were at the beginning of the month, the reversal pattern also remained. And many altcoins are now in the area of the local fibonacci line of 0.618-0.786. The dominance of Bitcoin at least continues its local correction, while the dominance of Altcoins adds a little. The dominance of Altcoins is also approaching downward trends, even a sideways breakdown of these trends can give an impulse to altcoins. MM and Whales also have minimal time left for correction. Let me remind you that we are at the beginning of a new cycle and 90% of altcoins of the Altseason were not even close!

Altseason is just around the corner.

But only 1% of projects will survive and give 100x+ returns.

My bet is on AI and DePIN: the most promising narratives of this bull run.

Here're 10 AI x DePIN projects with the highest potential 👇🧵

Altseason is just around the corner.

But only 1% of projects will survive and give 100x+ returns.

My bet is on AI and DePIN: the most promising narratives of this bull run.

Here're 10 AI x DePIN projects with the highest potential 👇🧵

#Bitcoin Dominance

So yes, ETHBTC Pump!

But hey, let's not forget that the big boss always has more than 50% dominance on the market so he must be respected.

That's why, in my opinion, we can see a mini Altseason as we have often seen for a year, but the real Altseason is not for now.

I can't wait to see Gaming, Metaverse and NFT explode!

It's not FUN AI, DeFi and RWA 😂