Crucial pivot point : Altcoins are in trouble if no higher high
Comparison of a same bubble structure between the Silver bubble and the total market cap of crypto (exl. Btc)
If alts don't produce a higher high around here, then new lows are to be expected, with a slow and long decling of several years.
Of course maybe a few alt coins will probably survive this pattern and will show a more bullish pattern than shitcoins and other alt coins, but this is a very important warning, as this bubble structure is so far 100% identical.
Humans reproduce the same patterns on charts as our behaviour and nature does not change, and will never change.
I am absolutely not against Alts beeing destroyed, as a large majority of them is a cancer to this space, and the crash of the majority of alts would educate the market in the way of driving dumb speculators into bitcoin maximalists, which is not worse.
A little zoom in shows the Smma totally blocked the upmove of the altcoins market cap :
Daily shows a golden cross, but the moving averages are already pointing to the downside, so i don't exclude a bearish cross to happen.
Last note about the Silver chart that produced the exact same bottoming pattern as the Bitcoin chart of 2015:
If alts don't produce a higher high around here, then new lows are to be expected, with a slow and long decling of several years.
Of course maybe a few alt coins will probably survive this pattern and will show a more bullish pattern than shitcoins and other alt coins, but this is a very important warning, as this bubble structure is so far 100% identical.
Humans reproduce the same patterns on charts as our behaviour and nature does not change, and will never change.
I am absolutely not against Alts beeing destroyed, as a large majority of them is a cancer to this space, and the crash of the majority of alts would educate the market in the way of driving dumb speculators into bitcoin maximalists, which is not worse.
A little zoom in shows the Smma totally blocked the upmove of the altcoins market cap :
Last note about the Silver chart that produced the exact same bottoming pattern as the Bitcoin chart of 2015: