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Thank you for 500 followers 💙

Gem100xhunter · 2024-05-30T10:08:49.000Z

Thank you for 500 followers 💙

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As expected we got rejected from 59ish area. Its hard to assume what will happen next. But we will most likely test the lower trendline around 57.5% Im hoping BTC price will maintain while the dominance goes down. This will bring life to the altcoin market. I believe it will stay in the same channel until BTC has a new all time high. Then while the volume increase we will see alts go higher as new money comes in

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Total marketcap excluding $BTC and $ETH Forming a ascending triangle. Constricted from both sides it may act as a pressure cooker. Its been cooking for almost 3 months. I dont have a crystal ball and there is no way to say if price will move upward or downward. However we have broken above the bullflag and have successfully retested it from my post a few days ago. So this might be the impulsive breakout move. An impulsive move is due. It should happen within 20 days. As that is when the apex of the triangle is reached. Im eyeing 785B which is also the top last may. This will be heavy resistance. This move may seem small. But alot of tokens will do +200% some even more. Just to be clear im not saying we will reach 785 in 20days. Im saying the breakout should occur within 20 days.

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The move down of $BTC seems like its going to retest the upper trendline of the bullflag. If we successfully retest it and it flips into support. Btc will retest 70+k.

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Below are 3 charts BTC dominance got rejected at 59% TOTAL crypto market cap going up Total alts excluding btc and eth is going up. If BTC dominance continue to go down while total market cap goes up, we can expect alts to pump. As i shared previously, the btc dominance has formed a raising wedge for 3 years with the lower trendline sitting around 57.3% People are getting bullish. We are nearing the ATH. We are closed a candle body above previous ATH which is good. Things can happen quick. Going long now isnt the best idea. Wait for a retest of the bullflag we had broken. The lows for alts are most likely in. RSI indicates we are far from overbought for alts. Be ready for a pullback still. Im eyeing 785B for total 3. Goodluck to us. $BTC

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Maturing in trading is realizing that setup quality is better than quantity. Trading less > trading more Managing positions size is key. Timing is key. Precision is key. Impulsiveness is your enemy. Emotions is your enemy. $BTC

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