Alts MarketCap Idea

alts mc did a retracement to 1.618 fib level after BTC dump and now forming this ascending triangle and it's about to break out in 4H timeframe if a daily candle close above the 2.618 fib level but if it reject by this level it can retest the support line again
also in 4h timeframe, it's moving above all major emas
I expect alts mc reach to the green line as a target in the next few days or week
in general, alts looking good, and dominance is about to break the 50% and it's like alt season is more possible but only if btc not dumping more then alts should be good in the next few days

تعليق:

and also btc forming a descending triangle and it's bearish and the target is around 46k-48k if it's break down this idea will be invalid

تم حذف الأمر:

so as the second scenario BTC break down from the descending triangle and make this pattern break down too and now testing the support box

تعليق:

bearish target for BTC hit
at this point, Btc break down of major support if it can't back to this support and close below it (also the 100ema on daily) then 44k (next fib level) or 45.5k (126 ma on daily timeframe) is totally expected

تعليق:

also, the ascending triangle bearish target for alts mc hit around 785B and now respect to the 1.618 fib level
now let's see that 1.618 fib level can act as support