Just a quick chart. I'm not going to write a long analysis here. This is to show that altcoins have still not begun a parabolic run. They are continuing to stagnate at the uptrend channel resistance, despite moving slowly up in USD value. This is in line with what I wrote about recently in this analysis:
Also in this post, comparing NEO's Bitcoin ratio with Ethereum's USD value:
Something also to keep track of is the total crypto market cap. I called a move up towards 300B a while ago. We're currently piercing the top of the long term bullish channel:
Zoomed out:
If we're going to see a major alt season, I won't expect it to happen until that channel resistance has been broken. To be honest, it's mostly XRP that's holding it down at this point. ETH has already broken out of its channel and retested it as support (you can see that it my other posts). To me, it doesn't matter so much what the Bitcoin ratios are. I'm looking at this chart, and at important USD resistances (like $0.50 for XRP, for example). I think this could happen once Bitcoin increases to a point where it FORCES certain alts to start breaking out.
Alright that's it for this chart. This is not financial advice - it is for personal use and educational purposes only.
-Victor Cobra
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Also check out this comparison my friend made. Based on this, I'm speculating that we COULD be about to see the final altcoin flush. There is major resistance once dominance gets close to 70%.
Do you have any alt recommendation for the alt season after btc stablize?
Planning to go for NEO but considering ETH as well
VictorCobra
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@alcolm, Not sure about an actual alt season yet, particularly since many alts just got pretty annihilated and aren't bouncing much on their ratios yet....altseason I think will only happen if TOTAL2 can break the channel resistance. But IF that does happen, I think NEO and ETH are both good choices, since they've been looking strong recently. Same with ADA. I personally love the NEO/ONT ecosystem. Maybe some ONT as well? The GAS payout is much higher than with NEO, especially with staking (but even without it). Very sleek and easy to use the O3 wallet and the Staketology app. VET just had some amazing news but didn't even sustain its pump super well. I still believe in it. XRP has been on a slow uptrend, so it could also make a surprise pop to the upside. Had some decent news recently as well. Maybe XLM...but only if it can finally break the downtrend with some positive news. Otherwise it's pretty risky, in my opinion. I've heard good things about QNT (Quant) but haven't bought any. I also own some Nano, but I'll admit that one really looks bad right now. Hope this helps. I only focus on a certain amount of projects because otherwise I'd go nuts.
Prfcttouch
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@VictorCobra, thanks for the detailed explanation. I am on xxxfinex doesnt have ONT. Planning on NEO/ETH/ZEC/OMG .Please keep going with those great ideas.Many thanks.