2021-05-01 01:26:20
QUICK MARKET UPDATE Is this the end for alts Yello ladies and gents
On 3 April
(<-click), we confirmed our bias from 15 March. That was the idea we had about the market money rotation from BTC to ALTS which we kept promoting with you even before that. After our
free update, we started to see that BTC is not making any significant moves anymore and keeps on ranging pretty much in the
same area. That was also when we in
ParadiseFamilyVIP rotated most of our capital from
BTC to USDT and started trading mostly altcoins in USDT pair. Why? Because they were more
profitable and less
reactive to BTC.
Let’s make some further checks here.
BTC. Dominance was on
15 March at 62%. As we predicted went down to 50%
(biggest breakdown since last three years), and as you see on our updated BTC.D chart from 7 April, this is the major support zone for now. We can naturally expect some bounce in the BTC.D in the next few days, so we keep our altcoins exposure tight and trading only
A+ setups, before
confirming that the support on BTC.D gets successfully broken down, which will be confirmed by at least daily closing bellow. If that will be the case, the next important support is at
0.786 Fib. (44%), that would allow altcoins to have yet another
long-term massive season.
Altcoin Market Cap (TOTAL2) was on
15 March at 641B. And now? As we predicted, it almost doubled! And just starting to consolidate below the resistance we have shown you previously at
1.145T. Suppose
BTC.D start to breaking down again together with
TOTAL2 breaking above its first
significant resistance. In that case, it will be a confirmation that even more money is flowing
from BTC to ALTS, and we will confirm this trend is still healthy and not some
“silent exit the market“ strategy by whales. So we will be able to avoid our bags being dumped by them. If the resistance is
successfully reclaimed, we are next anticipating 2 Trillion alts. market cap to be
achieved Ethereum was on
15 March at $1780. We told you that ETH would take the role of BTC and become the leader of the market instead. After our update, it
started to happen. ETH
successfully decoupled from BTC and started
leading the market. Smashed our strong resistance at
$2499, which we have been marking for you in the
free update from 8 March and now is sitting at $2762, just below our resistance. Quite fascinating
+56% move up. Right now, we are at the
1.618 fib extension, which tends to be a tough nut to crack. If this ends up being an s/r flip on ETH, it would be extremely strong. Looking good so far! But it is fair to be catious.
Ensure that you understand that corrections in bull markets are healthy and should still be understood as an
opportunity. Tomorrow
ParadiseTeam will show you an idea of why we believe that altcoins will keep generally performing
very well and that the macro bullish momentum will stay with us longer than ordinary people think, stay tuned
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