#AltSeason Update! Must read.
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When is the Alt season? Is it cancelled? Find out in this post.
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In this post, I'll talk about when can we expect to see the alt season start and compare $ETH vs $BTC
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Let's start with the altcoin season index (ASI):
As you can see, we're currently at 22, which indicates that we're in a #bitcoin season, and that is the primary reason why almost all the alt coins lost major levels of support.
But we can also see in the chart that it's starting to come up now. This tells us that we're very likely to start coming up and start the alt season everyone is waiting for.
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Bitcoin Dominance (BTC.d):
In the weekly chart (2nd chart), we can see that BTC.d broke out of the symmetrical triangle pattern we were in since late March and is now finally headed towards the red zone, which is the place where I expect it to get rejected.
The red zone is a very strong level of resistance on the monthly level (3rd chart) and we have had a bearish divergence forming since early 2023 and I believe this will play out very soon.
After the rejection on the red zone, we'll finally start the alt season of this cycle and #ETH will finally make a new ATH.
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ETH vs BTC
ETH has been absolutely obliterated against BTC since mid-2022, and now we're finally at a green zone on the monthly level. This is a very strong level of support and I believe that we'll see a reversal from this zone where ETH finally outperforms BTC.
We also have a bullish divergence on the monthly since early 2024 and I believe we'll soon see it play out.
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Conclusion: Each and every thing points out the fact that we'll soon have a crazy alt season for this cycle. While I can't really tell the exact timeline, I can definitely say that it's right around the corner. So be prepared.
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Thanks for reading; Stay safe.
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