DrJLT

Orderly dethroning Bitcoin?

BITFINEX:BTCUSD   比特幣 / 美元
During the last month and half, we've seen bitcoin             dominance drop from 60+% to barely 30%. My personal view is that in the long-term this number will drop to 10%.

Currently, we've seen that bitcoin             weathered the China news and the Korea news pretty well. There's a chance for another rally that'll follow the thick green line (tagged "irrational exuberance").

Still, the prevalent channel BTCUSD             appears to be in is downward. The weekly EMA is still below the monthly (though a small push could reverse that & lead to the aforementioned rally.

On the downside, there's a downward-slopping neckline that's been touched by multiple lows & the breaking of which completes the "double top", which could lead BTCUSD             to the second thick green line (tagged "exaggerated growth" / target 9k). We have a quarterly EMA that adds additional insurance against this, however.

My opinion on this market remains unchanged: the best bets are on relatively new alts with high potentials & low prices.
評論: Right at the neckline!

Another 500 or 1k drop, and bitcoin will go to 5k.
Flippening
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DrJLT qdoc
@qdoc, may stay below the neckline. I hope not. I just tried to buy the "bottom" half an hour ago :D
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