Many expect BTC to be forming a descending triangle pattern and approaching the top of the breakout. Interestingly, around the same time, Bakkt will launch Bitcoin Daily / Monthly Futures on September 23.
Many people think that institutional investors pay a lot of attention to Bitcoin today. What if Bakkt turned out to have the same fate as VanEck SolidX Bitcoin Trust 144A Shares when only 1 basket (for 4 BTC) had been purchased since its launch (September 5).
Until now, the market is indecisive in the direction that it will be broken. Another proposal suggests that the current model provides very little support for descending triangle arguments, and like a descending channel model might try to soon cross its upper boundaries, however, If the rally fails to break through the ceiling of $ 10,900, we may encounter a bearish market until the price of BTC can drop as low as $ 6000.
Compare both samples.
Falling BTC could be a signal for the altcoin market.
At present, BTC dominance is 70% and based on technical signals, BTC dominance has completed 5 cycles of a momentum and can soon see correction. In another indicator of altcoin market cap, RSI levels indicate altcoin is oversold (26). An opportunity for buyers, as the indicators suggest that the altcoin market may soon gain momentum from here.
The dominance of BTC ended a wave of momentum. RSI at oversold level
This has recently been apparent in the surge of ETH prices. While this is not convincing enough to indicate a trend reversal, the excitement comes from explaining that if Ether hits a bottom and reverses direction, other weak altcoins will follow. Traders remember the December 2018 time period, where Ether kicked off the meeting and triggered the altcoin season.
According to another indicator - Altcoin's market cap, the Stoch RSI levels indicate that the RSI is near the extreme level of recent reads, that is, the oversold level. Hopefully, altcoin dominance is on the sidelines of an uptrend and can achieve a strong recovery from here.
The top altcoins have the biggest opportunity apart from ETH:
Disclaimer: The views and opinions expressed herein are those of the author. All investments involve risk. You should conduct your own research when making decisions.
(sorted by alphabetical order)
Cosmos is a BFT Tintermint consensus using Proof-of-Stake. Recently, Atom has been selected by Coinbase to be a potential future list in Coinbase pro. Currently, Cosmos has 190 registered validators and an average of 100–120 all-time validators and main-net (main network) launches in March 2019. Last week, Atom skyrocketed. and continue moving in the upward direction.
The original token used in the Brave ecosystem, a Privacy Protection Browser, has more than 30 million downloads (according to Google play statistics). Currently, the team is planning to integrate BAT's own wallet, allowing users to seamlessly connect their wallets to dApps.
The BAT team has also implemented the Twitter tip option and has partnered with the TAP network where the BAT token can be used to purchase goods / services from 250,000 suppliers including hotel vouchers.
The BAT token has recently been added to Gemini's list of custody services for new cryptocurrencies.
Recently launched in June 2019, Harmony has been the focus of some influential people and is building one of the most advanced blockchain platforms. Recently, Lympo, a health monitoring dApp in partnership with Samsung, decided to move from the Ethereum blockchain platform to Harmony.
In addition, the acquisition of Harmony along with Animoca's Quidd brands will be transferred to the Harmony blockchain. Quidd has more than 7 million people collecting digital assets and hosting 60 million collectors. With this integration, it can build an endless opportunity for the blockchain gaming community.
Along with Atom and Matic, Harmony was also selected by Coinbase to be a potential future list in Coinbase pro. Harmony also has one of the largest decentralized confirmation networks. In a very short time, Harmony attracted more than 360 validators and more than 800 validated node validators in the pipeline. Together (external and internal pangaera registers) can be increased to 2400 nodes.
A decentralized oracle, bringing data from the real world and stores in the blockchain. ChainLink data can be used to build Defi projects or betting applications. For example, using the ChainLink oracle, the betting app provides more transparency to their users.
ChainLink has recently partnered with Google and many blockchain projects are planning to integrate ChainLink oracle in their infrastructure, such as Harmony, Elrond.
One of the biggest growth projects in 2019. Matic uses plasma solution, as a side chain to extend Ethereum. Coinbase is one of the investors of the project. Technology projects have shown interest from many dApp developers. Matic is also planning a sub-chain of solutions for Bitcoin and other blockchain platforms.
So, what are you following ……