Based on on-chain indicators, it may currently be a good time to accumulate #altcoinscrash
This system gets an aggregated view of the market and considers few different metrics. Probably the easiest way to think about is considering it similar to a TOTAL3/TOTAL oscillator.
TOTAL is the total market cap of cryptocurrencies.TOTAL3 is the total market cap of cryptocurrencies excluding BTC and ETH. An Oscillator (similar to RSI, etc.) moves in the range [0,1].
Few possible scenarios:
1️⃣ Both BTC (gray line) and Alts signal(gold line) are going up. This is a clear uptrend where both TOTAL and TOTAL3 are rising. Usually BTC.D is either ranging or going down in such cases. This is a bull rally.
2️⃣ Both BTC and Alts signal are going down.
This is a clear downtrend where both TOTAL and TOTAL3 are going down.
3️⃣BTC is going down, but Alts signal is going up.
This doesn't happen often. It happens when bitcoin is going down but alts are outperforming BTC.
4️⃣ BTC is going up but Alts signal is going down.
Bitcoin is outperforming the market (BTC.D is rising) in an uptrend market (usually happens pre-halving, and at the start of a bull market)
#Signal. #OnChainAnalysis #Onchain