Are we bullish or bearish, is alt-season still on?
Several confirmations showed here.
In order to fully know if we are moving up or the trend is shifted into a bear market. All in this report…. 360 holistic view
Conditions to be met for Alt-Season to fully start:
ETH getting close to flip BTC in market cap
ETH continue rising when BTC falling
Major caps are moving only up (on continue trend)
Good projects ranking 200 and less are being stable not dropping (Positive sign)
This show we are in transition into Wave 2 and still in Altseason.
Confirmations from major to minor (of how we are still in Bullish trend and in fact Alt-Season did not even start!) :
1. ETH rising against BTC pair:
Here is a hint: Alt-season started in 2017 when ETH almost flipped BTC (This is happening now) ETH continued rising to break the previous ATH of 2016. As a result, April was the start of a massive bull run for alts 2017 until ETH finished the run in June 2017. (Figure2: ETH/BTC chart)
The reason why we had all this delay was due to ETH not rising until now! (Gas fees, Uniswap, BSC, bullshit dogs...etc) now after shaking weak hands ETH is rising and with it, all alts will rise but some shake-out is needed before Alts going up.
Once ETH settles around $4800 (assume this week May 17th)
Look at what happened once ETH in 2017 April hit major ATH zone, it triggered all Alts to go up. shared in the chart below. (Figure 2: ETH/BTC pair)
Figure2: ETH/BTC chart analysis full view roadmap
Altseason 2021 projected date to start after ETH chillout on top. Around May 17th to 25th of July Altseason ends.
2. Alts market-cap continue to rise to new levels
Figure 3: TOTAL2 chart index.
All things lining up with ETH rising and BTC falling…
We might have a small shake-out for some Alts prior to the blast up.
(Remember not all can win, many will exit at the time of market going up and they will rejoin with FOMO to buy at the top)
This is normal in market psychology move.
What you need to know is that Alts market cap is rising, and this show another signal that we are still in a bull-run.
Now let's move into another confirmation (The more the better)
3. Social media, influencers and the mass:
Have you all noticed the fear in the market! Twitter going crazy, many already exited, some calling “uncertainty” “Fear” or the most famous sentence I saw from major influencers “This market can not predict, and no one understands what is going on…..”
All these signs of Exit, exit, exit. But only for new joiners, and people who can’t hold.
Another basic rule: Sell when people buy, and buy when people start selling.
You all saw this happening right now….
This latest post by Elon Musk:
Most people did not understand it correctly, and though he is selling! Think about this: You hold shares for a company that buys Bitcoin, why would the CEO send negative tweets for his own assets? There is something fishy here. As he said: “Tesla will not be selling any Bitcoin…..” my best part in this is “We are also looking at other cryptocurrencies …..” Yes this is a big sign for Altseason is coming soon.
However, I have to give a shoutout to some smart influencers who have been showing decent work in explaining the market status:
4. Let look at some coins status with their ecosystem:
Once KSM moves up, the next Polka coins move. KSM usually moves earlier. And vice versa in terms of Bullish or Bearish.
Defi projects: Still healthy not major trend shift
Defi status, Looking only moving up.. not much of drops. ✅
NFTs suffered the most, due to the new emerging market. But I think once Altseason start they will be the highest in terms of reward.
Does Rank play a part? From the chart above we shared 120 to 400. No difference noticed on Rank Advantage.
(Looking at every corner, more data collected bigger picture being shaped.)...
BTC Difficulty reaching a new all time high record Higher mining Difficulty indicates price will go up Right now spiked up into an all-time-high level.
SOPR Model graph for Bitcoin: Here it shows we truly hit the bottom in this wave If we touch that white line and yes we did Refer to the Glassnode chart I shared.
Rumours, Rumours more FUD If news telling you to sell then it is a big indicator good things are coming ...
Rumours did not stop there but some actually made stuff up:
Coinbase listing: More coins will be listed in Coinbase, not just meme joke Doge Source? Me. Any question?
If meme coins are being listed, that means Coinbase Criteria of the listing is kinda not always mandatory! That means more coins will be listed with better projects and long history longer than Doge. (Yes I am hinting $DGB a 7-year-old coin and Doge Savior)
These new assets include, in alphabetical order: Aave, Aragon, Arweave, Bancor, COMP, DigiByte, Horizen, Livepeer, NuCypher, Numeraire, KEEP Network, Origin Protocol, Ren, Render Token, Siacoin*, SKALE Network, Synthetix, and VeChain.
Most of the coins already been listed. (This show they are actually indeed reviewing them and accepting them one by one)
Why Coinbase listing matter?
Coinbase listing has the highest rate for coins hitting new records compared to other exchanges. (Example, Storj, RLC, Aave, NuCypher..etc)
You have the best combo of coins (Refer to the spreadsheet)
NFTs are the only part that hit hard in the portfolio, but hey! NFTs will do crazy jumps once the market is back.
NFT is a fragile market due to not being yet mature. However, this can be good and bad if someone does not know the market cycle. If you guys noticed you see some coins pump together while others not moving, this due Industry category of the coin: Defi, NFT, Oracles, Currency, Gaming, Media, Exchange, Platform, Launchpads. That is why all NFTs went down and went down very hard in the last correction April. But They will go super up (Around May to July), that’s how a new industry move. And we all know NFTs are new! That’s why in the spreadsheet we made sure we have a bit from every industry:
Currencies: XVG DGB DOGE
Defi: OM AKRO Perl FLM Ray REEF
Privacy/KYC: PHA XVG LIT
Oracles: LINK DIA Data TRB
Launchpad and also Defi:
SWAP OM DAO
NFTs: Bondly GHST TLM ERN STR
Platform: Strax Reef
Protocols: Bel ORN
NFTs showing us a clear pattern that if the market continues down, they will go to 0 in just a couple of days! (Refer to the chart below of one of the NFTs $BLES)