[Charts] Altcoin Speculation Already Here? (October 2019 TA, Updated: July 2020)

[victoria444]

Alts movement are really good ways of determining the market but they aren't and shouldn't be a general criteria for making decisions.

[1714881511]

1714881511

[1714881511]

1714881511

[1714881511]

1714881511

[1714881511]

1714881511

[Willitivity]

Altcoins have been pretty bad for some time now, the loss in value is really high. With Bitcoin still showing great dominance, alts season is still a thing to only look forward to and imagine. All I can say is for anyone to better accumulate at this level cus we are gradually getting to the start of something new and would really see alts fly as Bitcoin gains some traction.

[DigeNarrator]

altcoins are looking very good now
may go more down, but very close to get to the bottom

[cryptothreads]

The alts support zone can also be broken down, so it’s better to wait until the growth begins, and then draw conclusions that it is better to buy. Not the best time to rush and collect a basket of alts.

Patience is what all investors should do at this stage as the market is not yet out of the downtrend and there are still a lot of risks if we choose to invest now. I do not encourage you to invest this year because the value of altcoins may drop even more in the near future and will greatly affect your profits. Now you should have a new plan for next year and prepare a large sum of money to invest if the market starts to grow.

Of course you need to research and choose carefully before investing because any coin in this market has its own risks.

[serjent05]

Check this one, as Bitcoin go below $8000, several altcoin have mixed responses in this event.

https://cointelegraph.com/news/bitcoin-dips-under-8-000-as-altcoins-see-mixed-movements.

Investing to alts that are ready to launch is not a good idea

Much better than those IEO/ICO hyped investment.  So you are saying that it is better to invest in an IEO project than ETH or other coins on the top 10 of CMC?

but for those existed already you can still acquire but like what you have said patience is must before or during investments, if you are frustrated easily it will end up to a negative profit. Just settle on top 20 alts in the market to lessen the risk although sometimes taking big risk has a big result it is up to you.

Your words are conflicting now.

altcoins are looking very good now
may go more down, but very close to get to the bottom

So, you think it is time to buy them?

[hashman]

Alts movement are really good ways of determining the market but they aren't and shouldn't be a general criteria for making decisions.

Dominance of BTC rule the overall alt coin market. As expected while dominance of the BTC increase, alt coins crushing all together.

In this period some strong coins like BNB, ETH, LTC etc trying to resist, most of the shitcoins finding new all time lows to themselves.

By the way what was expecting also, when BTC dominance decrease alt seasons starts. As we see last 2-3 months it is not also valid analyse at current market conditions.

From 2017 to 2019 market changed  so much and also dynamics. What market need is new investors who believe the system.

[deadsilent]

Seems like a healthy sign from ETHEREUM. But the analysis doesn't guarantee that it could go up anytime soon. Cryptocurrency market is too volatile. Anything can happen. Good analysis though.
But like I said, anything can happen. Just one bad news price could go down big time. That's why candle analysis often doesn't work. I have joined a lot of channels which give you trading signals. But no one is accurate on signals that they are given. Sometimes reading news about cryptocurrency is giving you way more accurate signal than looking at market candles.

[serjent05]

Seems like a healthy sign from ETHEREUM. But the analysis doesn't guarantee that it could go up anytime soon. Cryptocurrency market is too volatile. Anything can happen. Good analysis though.
But like I said, anything can happen. Just one bad news price could go down big time. That's why candle analysis often doesn't work. I have joined a lot of channels which give you trading signals. But no one is accurate on signals that they are given. Sometimes reading news about cryptocurrency is giving you way more accurate signal than looking at market candles.

But we can always combine the two, TA and FA to have a better analysis. and it seems a make or break for ETH if the support level on $170 is broken then we can see ETH around $160 since it is where the next resistance is.

Moreover, the 61.8% Fib retracement level of the last major decline from the $225 high to $152 swing low might prevent gains near $197. Conversely, the price could break the $170 support level to continue lower. The next key support area is near the $160 level. If there are more downsides, the price could revisit the $152 swing low.

The above chart indicates that Ethereum price is clearly setting up for the next crucial break either above $185 or below $170. As long as the price is trading below the $185 resistance and the 100 SMA, there are chances of a downside break in the near term.
Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly moving into the bearish zone.

4 hours RSI – The RSI for ETH/USD is still well below the 50 level, with a flat structure.

Major Support Level – $170

Major Resistance Level – $185

Source: https://www.newsbtc.com/2019/10/06/ethereum-price-weekly-forecast-eth-approaching-next-crucial-break/


Lets just hope that the major resistance will be the one broken or else probably we can see another downtrend of ETH market.

[dragonvslinux]

The above chart indicates that Ethereum price is clearly setting up for the next crucial break either above $185 or below $170. As long as the price is trading below the $185 resistance and the 100 SMA, there are chances of a downside break in the near term.
Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly moving into the bearish zone.

4 hours RSI – The RSI for ETH/USD is still well below the 50 level, with a flat structure.

Major Support Level – $170

Major Resistance Level – $185

Source: https://www.newsbtc.com/2019/10/06/ethereum-price-weekly-forecast-eth-approaching-next-crucial-break/

Lets just hope that the major resistance will be the one broken or else probably we can see another downtrend of ETH market.

Interesting analysis, however probably worth pointing out the ETHUSD (or any ALTUSD) chart isn't so relevant in the context of the OP analysis. The chart is about market dominance, namely altcoins outperforming Bitcoin. At no point was I suggesting that Ethereum would rise against the dollar, in fact I believe the opposite is true.

It wouldn't be the first time Bitcoin dropped plunged lower but altcoin dominance increased, as altcoins are much more oversold (against BTC) than Bitcoin is against fiat.

Discuss what you like though obviously, it's all relevant and within the same context.

[coinswebid]

Yea altcoins look good
but you need to know that they will do what people expect less
the market is highly manipulated and have a lot of room of going down

i don't understand with you,,
with your words about market is highly manipulated, my simple question mate, who is manipulated the market ?
because need a huge money to manipulated the market mate

[DeepChipolino]

Truly a man sees what he wants to see. Yes, we want the altcoins come back. But the altcoin market is still in a downtrend. Attaching great importance to TA in such conditions can be harmful.

[Psynthax]

Yea altcoins look good
but you need to know that they will do what people expect less
the market is highly manipulated and have a lot of room of going down

i don't understand with you,,
with your words about market is highly manipulated, my simple question mate, who is manipulated the market ?
because need a huge money to manipulated the market mate

Do you think there was no even a single whale in the market?
I thought these articles are enough to explain to you a lot about what happened and who is manipulating the market right now.

https://blockonomi.com/what-is-a-whale/
https://www.forbes.com/sites/billybambrough/2019/03/20/researchers-issue-genuine-bitcoin-and-crypto-exchange-warning/#beb3a4d1833b

Keep in your mind if there was a lot of whales in the market with huge money.

[sana54210]

Altcoins are a very good tool for speculating in the cryptocurrency market. I think that we should now buy all the cheap coins, where the capitalization is below $ 20 million. The expected profit can be up to 500% next year.

Solid altcoins with low market cap of below $20 million dollars is good to buy, because they are the ones that still have the chances of increasing so big and I think that in the last bull run, most of the altcoins that were able to head for 100x to 1000x are those coins that are below such cap, but I really don't know what will happen in the crypto space this period.

People are not much encouraged to participate in altcoin investment right now and even if we have a sign of bull trend for altcoins, it would still take investors to make it come to pass, otherwise we will just jeep seeing these signs without being able to so anything much with it. I pray that by next year, the upgrade that Ethereum intends doing will have some effect on the market as it did in year 2017.

[dragonvslinux]

Truly a man sees what he wants to see. Yes, we want the altcoins come back. But the altcoin market is still in a downtrend. Attaching great importance to TA in such conditions can be harmful.

Agreed, the altcoin market is still in a downtrend. At no point in this analysis was I suggesting the altcoin market would rise, only that the market dominance would.

I've also updated the OP with analysis of Altcoin dominance (1-BTC.D+99) from a few weeks ago which is playing out nicely for anyone interested.
For reference sake this is the BTC.D chart "upside down".

Altcoin Dominance Bouncing From 0.382 Fib Retracement (18/09)



Source" Trading View, September 18th 2019. Screenshot: October 8th 2019

Bouncing from 0.382 fib retracement, altcoin dominance has broken above the 200 Week MA (29.65%), RSI now left oversold conditions and MACD about to bull cross. "ALT.D" ( 1-BTC .D+99) needs to close the weekly above the 200 MA to remain bullish , but otherwise the risk/reward is there for a trade to the 0.5 fib retracement (49.95%) and resistance level . This would be a trade on the monthly scale on the left with the price bouncing back from the 50 MA to the 20 Month MA (*).

(*) Correction included

Own work: dragononcrypto

[Robotbitcoin22]

I'm still waiting for this moment because this year there has been an increase for altcoin itself, the growth is still quite slow than bitcoin. big hopes are saved for altcoin to grow and provide benefits for their investors

[CjMapope]

Another alt TA thread? i do find this stuff interesting to look at, but i never understood the guys that make those charts all day
Crypto is not like traditional markets, it dosent follow ANY TA. 
Dudes end up (like a broken clock) right now and again and become self professed Twitter crypto gurus tho apparently 

[AliMan]

Altcoins are a very good tool for speculating in the cryptocurrency market. I think that we should now buy all the cheap coins, where the capitalization is below $ 20 million. The expected profit can be up to 500% next year.

Solid altcoins with low market cap of below $20 million dollars is good to buy, because they are the ones that still have the chances of increasing so big and I think that in the last bull run, most of the altcoins that were able to head for 100x to 1000x are those coins that are below such cap, but I really don't know what will happen in the crypto space this period.

People are not much encouraged to participate in altcoin investment right now and even if we have a sign of bull trend for altcoins, it would still take investors to make it come to pass, otherwise we will just jeep seeing these signs without being able to so anything much with it. I pray that by next year, the upgrade that Ethereum intends doing will have some effect on the market as it did in year 2017.

Altcoins where low capitalization ($ 20 million) are really very attractive for buying now. But I also look at coins where the capitalization is 100-200 million dollars. As an example, now I buy OmiseGO, ICON.

This is our best moment to buy profitable coins while its hasn't gained an expensive price yet. Dipped price was our good opportunity to catch, while we're in the midst of bearish trend that has been so hard to predict until now. Whales are really within control with this, and if the people won't gamble for this bravely I guess this won't suppress but continued to initiate a serious dominance.

[fudster]

Nothing is yet true until coins grow exponentially. Bulltrap had been trapping those investors and were selling after seeing  the price dips more after some high rank users hills for it. This is nothing new so if RSI tells you its oversold, it doesn't mean investors are going to buy. You wait because in matter of days, its all going to be dumped on you.

[illnino]

altcoins are looking very good now
may go more down, but very close to get to the bottom

The main difference between the next market growth and 2017 is that now cryptocurrencies will not only have whitepapers. Projects in the next season of altcoins will grow due to the provision of work products and a wide user base. Altcoins are still a risky investment, but now the market is much healthier. Alts really have a chance to go to the Moon. However, the main criterion for the start of the altcoin season is Bitcoin domination decrease.

[carlzec]

There is constant manipulation of subcoins. I think it's necessary to get used to it, because that's what makes the price move. Is there any real technology? I think we do. Payment systems will somehow be integrated into this scheme.