"ALTCOIN DOMINANCE"
Take your eyes off the hourly charts. Look at the bigger picture.
Before you is the Others/BTC Monthly (1M) Chart.
This is not ETH, XRP or SOL. This is the market's ‘rest’. This chart is the purest form of ‘Risk Appetite 💥’
The massive structure you see on the chart (Accumulation/Compression) has been ongoing for years. Historically, whenever this chart breaks above this compression, ‘Logic’ is suspended in the market and ‘Madness’ (Euphoria) begins. (Altseason)
(See: end of 2017, beginning of 2021).
We are currently on the brink of that breakout. It hasn't started yet. Once it does, you won't be able to stop the train.
The market is a ‘Capital Transfer’ mechanism. Money first flows into Bitcoin (Safe Haven). Then it moves to Ethereum. Finally, it ends up here: Others/BTC
The smaller players, crushed under years of ‘Bitcoin Dominance’ pressure, are nearing the completion of their bottom formation. When this chart lifts its head, it will confirm that this ‘Smart Money’ has taken profits from Bitcoin and moved into the most speculative assets.
This is the fastest and most dangerous part of the cycle (FOMO/Hype). We are not there yet.
“This is a probabilistic setup, not a guarantee.”
(NFA)(DYOR)
