I have been coaxed back here from the social media platforms I usually post on (links in bio) If you follow me on those platforms you will know I have had the parabola (wayyyyy before other traders noticed it ;) ) on my charts since around $4,000USD, and also said if we broke $6300 we would see $10,000USD... GUESS WHAT? We are nearly there!
I have 3 targets coming up - the 2 pink lines are subwave Targets and the Upper Yellow Line our greater wave target. Target 1: 9444 Target 2: 10162 Target 3: 10750 (overall Target 11)
The volume right now is being moved by Futures Expiring and Crypto Funds starting to invest more into the market. If we keep an eye on the GLOBAL MARKET CAP, we can access when ALTs or BTC are about to move, it is quite an obsession of mine right now. Over the last 2 days BTC dominance has stabilized at 57.4% and had dropped as low at 55.7% in the preceding days which gave the ALTs the opportunity to bounce.
Since the start of MAY we have seen the Global Market Cap grow 100 BILLION DOLLARS that is massive when you think about it and the 24hour volume has been fluctuating between 90 BILLION peaking at around 110 BILLION to break key levels.
TO EXPLAIN HOW DOMINANCE WORKS What happens is BTC dominance grows, and until we get new money flow in the markets, BTC grows and the money is taken from the ALTs which right now are standing fairly still. For a bull run to happen - the WHALES understand that BTC is the KING - BTC rules the market.
The reason being, the MEDIA do not pick up ALTs they ONLY look at BTC - once BTC is at a premium price, Mum and Dads and retails buyers think, I will buy the cheaper coin, I can have more and there is more chance I will get rich quick... at this point dominance settles, it will still be quite high. At least mid 60s.
Then this is where the greed sets in. The FOMO buys rush in, and BTC and ALTs at this point moon. Depending on how much media attention BTC gets, will depend on the All Time High being broken. Right Now I am seeing a fairly easy $10,750 on the charts. This could increase with media hype and greed.
THIS IS HOW DOMINANCE WORKS AND WHY I AM OBSESSED we can read market direction from dominance and money flow in and out. It is just another tool in your trading kit.
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
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BITFINEX
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BINANCE
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BITMEX
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BTC is so far bouncing nicely in my BUY ZONE - this is a SUBWAVE CORRECTION - not a major correction just yet
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CHECK THOSE WICKS..... going up
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BTC heading to next target
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The previous Targets on the chart, will now act as support as BTC corrects. We can safely say if the current one breaks, the next support was our previous target.
BTC can correct to the arrow WITHOUT breaking the PARABOLA
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All exchanges currently holding the diagonal support, it is looking like right now we are heading to the 9444 target before a deeper correction
Love all these non sense predictions. Its having a hard time getting past 9k. Good luck with 9500, 10k and the non sense talk beyond that. 200 MA is around 5300. Do some studying, chatting and come back to reality!
Sigmaniac77
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@Michele1970,
June 2014 - dump
July 2015 - dump
June 2016 - dump
June 2017 - dump
June 2018 - dump
meanwhile everyone's bullish...what could possibly go wrong :)
TradingSafely
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Great Job! Take a look at the key supports & resistances. If we can close above 12K we will blast off to 17K. Very little resistance between 12K and 17K
Good Luck!
LisaNEdwards
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@BossIndicators, agree not much resistance moving higher