Altcoins might bounce sooner than later.
It's no secret that when BTC runs focus is on BTC and BTC alone, at least in most cases.
People sell their alts to un the BTC wave and when they feel they want out, they go in USDT or any stable of their choice, but not back to their alt position.
Hence alts suffer...their collective dominance drops significantly and while fundamentally strong ones recover many of them don't.
For some time now OTHER.D is battling with a very crucial support level. If they turn this support into resistance much lower prices are ahead of us.
And while everything looked terrible for alts and BTC.D kept going higher and higher the first signs of positive news for altcoins might be around the corner.
Although not a big fan of RSI indicator many times especially when it comes to bullish and bearish divergences this indicator is spot on.
Although it's not yet confirmed a H4 candle closing below the orange line would be the first positive news for alts in a long while.
People sell their alts to un the BTC wave and when they feel they want out, they go in USDT or any stable of their choice, but not back to their alt position.
Hence alts suffer...their collective dominance drops significantly and while fundamentally strong ones recover many of them don't.
For some time now OTHER.D is battling with a very crucial support level. If they turn this support into resistance much lower prices are ahead of us.
And while everything looked terrible for alts and BTC.D kept going higher and higher the first signs of positive news for altcoins might be around the corner.
Although not a big fan of RSI indicator many times especially when it comes to bullish and bearish divergences this indicator is spot on.
Although it's not yet confirmed a H4 candle closing below the orange line would be the first positive news for alts in a long while.
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