{"id":392861,"date":"2019-08-12T19:00:18","date_gmt":"2019-08-12T19:00:18","guid":{"rendered":"https:\/\/uniquehot.com\/?p=392861"},"modified":"2024-06-11T13:24:13","modified_gmt":"2024-06-11T13:24:13","slug":"crypto-analyst-look-for-one-simple-sign-before-alt-season-has-officially-begun","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-analyst-look-for-one-simple-sign-before-alt-season-has-officially-begun\/","title":{"rendered":"Crypto Analyst: Look For One Simple Sign Before Alt Season Has Officially Begun"},"content":{"rendered":"

Throughout 2019, and even during the 2018 bear market, the promise and allure of an “alt season<\/a>” have kept crypto traders buying each dip in the altcoin market, meanwhile, Bitcoin and its parabolic rally have only decimated the alternative crypto asset category further through growing BTC dominance.<\/p>\n

The tides have started to turn and Bitcoin dominance has begun to reverse. As altcoins bounce strongly and give hope that the bottom is in, one crypto analyst warns that one simple signal must occur before any crypto investors should consider that an “alt season” has begun.<\/p>\n

Crypto Analyst: Zero Reason to Be Bullish on Alts Until Resistance Turns Support<\/h2>\n

Crypto trading and investing can be complicated and overwhelming. Many charts shared across crypto Twitter will include dozens of meme lines, indicators galore, and so much data its nearly impossible to understand what’s going on. But oftentimes the simplest method is the most effective.<\/p>\n

Related Reading | Continued Bitcoin Correction Could Cause Lead to Altcoin Market Double Bottom\u00a0<\/a><\/strong><\/em><\/p>\n

One prominent crypto trader says that it’s as easy as that when it comes to altcoins, and simply watching for resistances to be broken and “flipped support” and waiting until then to buy and hold out any hope for an alt season<\/a> to commence.<\/p>\n

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Alt szn so strong that the first bearish throwback has been respected.
Amazing.
Zero reason to be bullish on alts unless throwbacks start getting broken and flipped support.
pic.twitter.com\/emSirLWthv<\/a><\/p>\n

— Nick Cote (@mBTCPiz) August 12, 2019<\/a><\/p><\/blockquote>\n