August 2021 Update: Ser When Next Alt Season?
In my previous idea, I had a bias towards BTC.D going up but was willing to change my opinion if one of these two happens between:
1. ETH and major DeFi show reversal patterns on the 12h charts AND
2. BTC continues to be neutral to bullish .
Well as luck would have it, both 1 and 2 happened so I have been scaling into alts slowly over the last few weeks.
This is a breakdown of a triangle so I expect trend to continue. Alts INCLUDING ETH trade at Bitcoin's mercy so alts will only outperform BTC if BTC remains on a slow uptrend/sideways.
A good sign of strength over the last two weeks is that alt/btc pairs have looked strong despite the BTC move to the upside.
I expect alt season to end when BTC starts making new all time highs. Will scale out of alts when that occurs.
1. ETH and major DeFi show reversal patterns on the 12h charts AND
2. BTC continues to be neutral to bullish .
Well as luck would have it, both 1 and 2 happened so I have been scaling into alts slowly over the last few weeks.
This is a breakdown of a triangle so I expect trend to continue. Alts INCLUDING ETH trade at Bitcoin's mercy so alts will only outperform BTC if BTC remains on a slow uptrend/sideways.
A good sign of strength over the last two weeks is that alt/btc pairs have looked strong despite the BTC move to the upside.
I expect alt season to end when BTC starts making new all time highs. Will scale out of alts when that occurs.
