Altcoin Season has started
This is Others.D which illistrates Altcoins without Ethereum dominance in the market. This is the weekly candle chart.
Let's start from bottom of the chart.
1. The Stochastic RSI has been out of oversold since the 20th June 2022, it looks like it is curling back down which would gain BTC back some dominance.
2. PCT Rank Top Bottom is light coloured green stating that we are bottoming out and momentum turning back up.
3. The Money Flow Index has dropped below 20 tells me that the money coming in should start increasing.
4. I have put in the historical Linear Regression lines (in Green) 6-13th June 2022 price had bounced off the lower line.
All of this above looks to me a great time to start buying Alts. The Stochastic RSI is a concern, but overall we should be right to go.
Let's start from bottom of the chart.
1. The Stochastic RSI has been out of oversold since the 20th June 2022, it looks like it is curling back down which would gain BTC back some dominance.
2. PCT Rank Top Bottom is light coloured green stating that we are bottoming out and momentum turning back up.
3. The Money Flow Index has dropped below 20 tells me that the money coming in should start increasing.
4. I have put in the historical Linear Regression lines (in Green) 6-13th June 2022 price had bounced off the lower line.
All of this above looks to me a great time to start buying Alts. The Stochastic RSI is a concern, but overall we should be right to go.
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