Thread by @thescalpingpro

When #Altseason ?? 1/8🧵

$TOTAL.2 is testing the previous high, expecting down-trend to end once we test the upwards sloping trendline.

Price might stay sideways inside the blue box for a little longer until $BTC is forming its bottom.

#alts #total2 #btc

$BTC vs $ETH/BTC

If you pay attention to the 2019 bottom,

As soon as #Bitcoin bottomed out we saw an inverse co-relation ~ where ETH/BTC continued to dump & $BTC outperformed ALT/BTC during its first leg up.

2/8🧵

$ETH /BTC

$ETH got rejected near 0.085100 sats , Looks like a possible rounded top, if we see something similar to 2019 we can expect a re-test of 0.05000 !!

( ETH/USDT might go up & ETH/BTC might bleed slowly at the same time)

3/8🧵

Here is a Cheat Sheet -

What happened near 2019 bottom is marked in a sequence of 1, 2 & 3 in the image below.

1) BTC Bottoms & Outperforms = ALT/BTC dump
2) Correction in BTC = ALTS start to catchup
3) BTC Pumps = Alt pump harder (ALTSEASON )

4/8🧵

#BTC.D (BTC dominance)

Dominance is also showing something similar, the index is inside a range from past 581 days , it bounced off the range low

A re-test of the range high (48% area) is possible, that means dump in ALT/BTC is possible.

5/8🧵

#BITCOIN

If Bitcoin bottoms out & starts reversing Altcoin might under-perform (not all of them but most of them).

Once BTC shows some strength (after the first leg up) where BTC goees sideways/ down(re-accumulation) this is where we start buying #altcoins

6/8🧵

I don't mind buying altcoins 20-50% higher from their bottom if missed , the only dip i am interested rn is #Bitcoin

If we have the right entry in $BTC, imo we will get enough opportunity to multiply it in the altseason instead of trying to catch the falling knif.

7/8🧵

Like & RT the first tweet if you found this thread informative 🤝🔥

8/8🧵