1D 50&200 MA -> a good picture of BTC/Altcoins cycles
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BTC is above 50MA and reaching the 200MA, while main altcoins are struggling below the 50MA. I'll post the alt pictures below as i don't know if we can compare charts side by side in tradingview.
This shows quite clearly that BTC is more 'advanced' than its peers in its cycle.
To me this suggests an altcoin phase about to come, even if BTC goes down to test the neckline and 5.8k low : my take is that alts would spring towards the 200MA whether BTC goes up or down. IMO traders will consider that as long as BTC doesn't go below the 6.8k neckline and suggest more bearish scenarios (eg 5k, 4k, 1k you name it), it is safe to play with alts.
https://www.tradingview.com/x/cOzMoSvj/
https://www.tradingview.com/x/on6KZnfR/
https://www.tradingview.com/x/8HBiuL1v/
This shows quite clearly that BTC is more 'advanced' than its peers in its cycle.
To me this suggests an altcoin phase about to come, even if BTC goes down to test the neckline and 5.8k low : my take is that alts would spring towards the 200MA whether BTC goes up or down. IMO traders will consider that as long as BTC doesn't go below the 6.8k neckline and suggest more bearish scenarios (eg 5k, 4k, 1k you name it), it is safe to play with alts.
https://www.tradingview.com/x/cOzMoSvj/
https://www.tradingview.com/x/on6KZnfR/
https://www.tradingview.com/x/8HBiuL1v/
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It's also interesting to see that LTC MA patterns are closer to BTC, while ETH & BCH are more similar.
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