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

[kapalmabur]

Although the charts are showing fairly accurate signals, I have a lot of doubt about these signals. because in the near future the crypto market seems to be paying attention only to bitcoin and many people want to buy and hold it until June 2020. that shows that the market is just buying bitcoin and soon the alts are going to be colored. The red continued due to no need to buy or sell.

I think those signals are very interesting need to be positive about that many are holding bitcoin as for now because they know thag bitcoin have potential to grow soon. Altcoins can grow also once bitcoin finish the recovery zoon. Because many of altcoins grow the price once bitcoin goes up. So be positive sir this signals are only speculation.

I do not agree with you if the bitcoin holder will hold it until June 2020,   indeed after Halving experts predict that Bitcoin can be above $ 20,000,
but look at Altcoin now, 100 coins on Coinmarketcap look very good to buy and can potentially get a lot of bitcoin by selling it during the alt season coming,
I'm sure alt season will come before Halving bitcoin starts

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[suzanne5223]

Although the charts are showing fairly accurate signals, I have a lot of doubt about these signals. because in the near future the crypto market seems to be paying attention only to bitcoin and many people want to buy and hold it until June 2020. that shows that the market is just buying bitcoin and soon the alts are going to be colored. The red continued due to no need to buy or sell.

I think those signals are very interesting need to be positive about that many are holding bitcoin as for now because they know thag bitcoin have potential to grow soon. Altcoins can grow also once bitcoin finish the recovery zoon. Because many of altcoins grow the price once bitcoin goes up. So be positive sir this signals are only speculation.

I do not agree with you if the bitcoin holder will hold it until June 2020,   indeed after Halving experts predict that Bitcoin can be above $ 20,000,
but look at Altcoin now, 100 coins on Coinmarketcap look very good to buy and can potentially get a lot of bitcoin by selling it during the alt season coming,
I'm sure alt season will come before Halving bitcoin starts

To be honest. The above guys are right while your speculation about the bitcoin and altcoin market are totally wrong and i never for once see an occasion when bitcoin halving is coming and instead of us to see bitcoin season what we'll see is altcoin season? Come on.
Altcoin market will follow the bitcoin market surge once bitcoin hit the point of recovery.

[dragonvslinux]

Have updated the OP with latest screenshots and analysis for those still following this TA, that still appears relevant.
As referenced below, while the Weekly chart remains bullish, the Monthly chart has now begun to follow suit with a green price flip.

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

Source" Trading View, September 18th 2019. Screenshot: December 11th 2019

An Updated Closer Look (11/12)

Altcoin dominance appears to again be finding support from the golden 200 Week MA, after previously finding support back in October.

Dominance is now above the 21 Week MA, RSI has left bearish conditions, CMF is now positive, MACD has been losing bullish momentum but still in a bullish posture. Notably the initial target of the 0.5 fib (34.8%) as well as ultimate target of the 0.618 fib (41.95%) by the end of the year remains illusive and now less likely, but dominance is still holding it's ground against BTC.

On the monthly chart, there has been a price flip to a green 1 which is a positive development. A drop in dominance this month would also initiate a TD 9 buying opportunity, and therefore unlike the Weekly chart could still be considered bullish.

A break above 33% (previous highs) would likely lead to the initial target of the 0.5 fib retracement around 35%.

Source" Trading View, September 18th 2019. Screenshot: December 11th 2019

Own work: dragononcrypto

[dragonvslinux]

On second thoughts, I'm still liking how this is looking. I have no idea what that gap was about, but looking at my original chart tells me it was more of a glitch than a problem.

Holding support above the 200 Week MA would be bullish, especially if we bounce strong from it making another new swing high above 6.9%. The TD 9 did nothing to reverse the dominance of small cap altcoins, we're still poking at resistance, even if I'm expecting a short-term top will come soon. A pull back would likely to coincide with a considerable bounce back in Bitcoin's price, similar to what occured in October with the 40% spike in price in less than 24 hours.

[dragonvslinux]

Belated update, we're also coming upto the 0.5 fib retracement level for reference sake:

For those trading shorter time-frames, it's a good time to tighten stop losses or take profits. As referenced previously, I expect some resistance at this level, but for it to ultimately be broken, whether that means coming back down to the 200 Week MA over the coming weeks to find support or not. I've taken some satoshi profits, but otherwise leaving long positions from October 2019 from 30.5% altcoin dominance (1.5% under the 200 Week MA now) on break even stop losses as macro trades, as opposed to swing trades.

Still expecting a pull back from small cap dominance as the red fractal arrow suggests, but at the same time it's still looking very strong right now.
If Ethereum is any metric to go by, then this could lead to profit taking of small caps into blue chips for a continuation of alt season.

[dragonvslinux]

Bump, charts from October 2019 updated with latest trading screenshots + extra updated screenshot:

This has been the "never-ending" trade of the year. Altcoin dominance is still struggling to convincingly move above the 0.5 fib retracement zone. After 9 months it's time to start considering a break-even stop loss if altcoins are unable to rally further, although the current price structure remains satisfactory.

Regarding speculation on smaller cap coins, a lot of defi projects are recording record gains this year. While I'm expecting a considerable correction from these tokens, which could lead to increased strength in Ethereum (for those who are trading against this pair instead of BTC), I can sill see the potential of returning to 15% by the end of the year with the current trajectory, or alternatively a pull-back to 6.5%- 7.5% VPVR support. The Weekly RSI is reaching overbought territory, indicating a pull-back or another leg up is on the cards:

[dragonvslinux]

OP updated with latest screenshots.

Have uploaded two screenshots for the altcoin dominance TA, as doesn't fit in one screenshot: