📈 Bitcoin Dominance | AltcoinSeason2024

3 Mar

This is Bitcoin Dominance...

Maybe you cannot understand because I have to share what I see, always with the intention of being of service, help and assistance to you.

I love Bitcoin.
I use Bitcoin to buy my food; but the market doesn't care about my feelings nor about yours... The market doesn't care about our needs either, it moves in cycles and after it goes down, it goes up.

It also works in reverse; After a strong bullish wave comes a corrective phase. But there is always an opportunity between each market phase.

Bitcoin Dominance is set to go down because Bitcoin is set to go down.

As Bitcoin goes down the Altcoins market will go up.
When Bitcoin starts its major corrective phase, we will enter AltcoinSeason2024.

It is already happening but it takes a while before it spreads, reaches the news and lastly you. Well, maybe not you because if you've been reading this, you are part of the take profits group.

Before we go into the chart please allow me to entertain you a little bit. This is how the whole market dynamic will work for the majority, those that are not versed in chart reading. Remember that this is a specialized niche and if you are reading this, you are way ahead of the mass. You might think it normal but that is not the case. While you work, study and prepare, people are watching Netflix and this takes us to my next point.

The majority will jump in and start buying when everything is topping; at the top. At this point you will be taking profits because you were sweating, working when everything was down. You waited patiently as prices consolidated up. When the strong rise is happening, you will be selling to those that are unprepared buying based on FOMO.

There is nothing wrong or bad about this situation. When we started trading we bought at the top, waited for years and now we are here and we accept the lessons we learned and use it as experience to win.

Everybody will be rushing to see the market, enter the market, buy the Altcoins because they are going up. They are not "going up." They are already up and they've been going up for six months. When the real euphoria phase comes it will be eight months growing, so imagine... It is already too late.

And this is the famous "distribution phase." The distribution is you, distributing your coins to new buyers, so we have to feel thankful they are ready to join, to trade, to learn.

We will teach them everything we know.
And if at some point things get heated, we stay calm and thank them for their support.

This is the 3D Bitcoin Dominance (BTC.D) chart.

The peak happened on the session 6-Dec. (2023 of course but I always mentioned it to make sure nobody gets confused) and the 26-Feb. session produced a lower high and here is the interesting signal, ignore the way too common bearish divergence with the RSI; the trading volume on the last session is ultra-high, ultra-strong and yet the index produced a lower high. A very strong bearish signal. Down we go.

Down one portion of the market.
While one portion goes down, another goes up.

It is just as the physicist say about energy, "It cannot be destroyed, it can only transform." The same is true for "energy," aka. money in the markets; it doesn't disappear it moves from one place to the next hence, when something goes down, something else, somewhere else goes up.

Will Bitcoin go down or not go down?
I don't know (I do!), but the Altcoins are already going up.

A new All-Time High for Bitcoin?
Yes! Absolutely, but later down the road.

I can be wrong of course, but I wouldn't gamble on a 10% high risk rise when I can make 100% daily on low risk Altcoins.

When Bitcoin was low, we love it; the greatest choice.
When Bitcoin is trading near its All-Time High; two years high, near resistance; high up... I don't know about you, but EOS looks good, Filecoin looks good and the rest, it goes on and on and on.

Thousands of options.

Are you trading for money or for excitement and fun?

Depending on how you answer, we can know your choice.

This is not financial advice.

I love you each and everyday... More and more and more.

Thanks a lot for your continued support.

Through the pain, the tears, the challenge I continue to grow and evolve.

Namaste.