Post
Topic
Board Speculation (Altcoins)
Re: [Charts] Altcoin Speculation Already Here? (October 2019)
by
dragonvslinux
on 07/02/2020, 11:58:54 UTC
Belated update, we're also coming upto the 0.5 fib retracement level for reference sake:

For those trading shorter time-frames, it's a good time to tighten stop losses or take profits. As referenced previously, I expect some resistance at this level, but for it to ultimately be broken, whether that means coming back down to the 200 Week MA over the coming weeks to find support or not. I've taken some satoshi profits, but otherwise leaving long positions from October 2019 from 30.5% altcoin dominance (1.5% under the 200 Week MA now) on break even stop losses as macro trades, as opposed to swing trades.






Still expecting a pull back from small cap dominance as the red fractal arrow suggests, but at the same time it's still looking very strong right now.
If Ethereum is any metric to go by, then this could lead to profit taking of small caps into blue chips for a continuation of alt season.