Trading Cycles
To be clear I am not looking to day trade. I am using weekly charts to capture changing market cycles in crypto. Short term fiat values go up and down but when done right each new cycle you should have more of each coin bull or bear market. 6 Weeks ago I moved to alts some are doing amazing and others still struggling. I am looking for down side target around 52 I'll likely post many updates before then.
This above chart is simple weekly BTC.D has been moving down and then trendline has acted as strong resistance. The indicator are still pointing to being near the end of Bitcoin dominating the market. I expect a retest of that trendline or a break down before end of the year. Bitcoins price has returned to all time highs. Bitcoins Marketcap is pasted it's previous all time high. Previously the industry marketcap hit roughly $800 Billion. I think hitting $1 trillion for the first time ever in this next alt coin cycle is likely. Though short lived and i'd be looking to make my exit around $800 Billion and around 52% BTC.D. It which time holding more Bitcoin would become a better risk to reward.
This above chart is simple weekly BTC.D has been moving down and then trendline has acted as strong resistance. The indicator are still pointing to being near the end of Bitcoin dominating the market. I expect a retest of that trendline or a break down before end of the year. Bitcoins price has returned to all time highs. Bitcoins Marketcap is pasted it's previous all time high. Previously the industry marketcap hit roughly $800 Billion. I think hitting $1 trillion for the first time ever in this next alt coin cycle is likely. Though short lived and i'd be looking to make my exit around $800 Billion and around 52% BTC.D. It which time holding more Bitcoin would become a better risk to reward.
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