BTC.D: Don't Underestimate the TD Sequential 9 & 50 Week MA

9 de fev. de 2020

As can be seen on the Daily chart using the TI Indicator, we are currently at the 50 Week MA on a Sequential 9. While the long-term 200 Week MA is sloping downwards (has a bearish posture), the 50 Week MA is rising (has a bullish posture). It's also clear from previous TD 9's, whether buy or sell signals, have been very reliable in calling short-term tops and bottoms. The RSI is also considerably oversold.

I'm still bearish on Bitcoin dominance long-term, but remaining neutral as dominance is likely to find short-term support from current levels. It'd be reasonable to believe that dominance will retest the bear flag breakdown level, VPVR resistance as well as 21 Day MA around 66%, or even as high as the 200 Day MA at 69% that is now started to slope downwards confirming long-term bearish pressure.

TI Indicator: tonevays.com/indicator

Altcoin Dominance Eyeing Up A Breakout to 40% (January 2020)

Cyrpto Market About To Bullcross: 50 & 100 Week MA (January 2020)

Altcoin Speculation Coming Soon... (October 2019)

Altcoin Dominance Bouncing From 0.382 Fib Retracement (September 2019)

9 de fev. de 2020

Nota

A zoomed out view of the Weekly chart for reference sake. In my opinion, based on the logarithmic long-term trend-lines, we broke out of the bullish channels weeks ago. On a linear scale, we are doing so this week apparently.



(The arrows are pointing to 50 Week MA support, not TD 9s)

11 de fev. de 2020

Nota

It might be time to start under-estimating this Daily 9 due to strong selling pressure.
The Week will still need to close below the 50 Week MA to confirm bearish bias.

13 de fev. de 2020

Nota

#AltSeason

26 de fev. de 2020

Nota

While we didn't find the bounce from the TD 9, and therefore bounced later than expected, Bitcoin dominance is now back above the 50 Week MA:

"50 Week MA is rising (has a bullish posture)"

My previous outlook remains the same regarding re-test targets. BTC dominance is currently testing the 66% level - the bear flag breakdown level and VPVR resistance, as previously anticipated:

"It'd be reasonable to believe that dominance will retest the bear flag breakdown level, VPVR resistance as well as 21 Day MA around 66%"

If dominance re-tests the downwards sloping 200 Day MA, following the death cross that occurred, this would be a good opportunity for again longing altcoins based on the risk reward of 50 & 200 Day MA altcoin dominance "golden crosses".

Zooming into the chart, we have wicked upto the previous breakdown level. The vpvr does show a considerable gap in volume, therefore room to move upwards if the current resistance level can be broken. Note the Weekly would also need to close above the 50 Week to confirm a bullish bounce for Bitcoin dominance. Expect strong resistance around 67.5% point of control:



Source: bitcointalk.org/index.php?topic=5219614.msg53915153