{"id":396314,"date":"2019-09-17T18:00:12","date_gmt":"2019-09-17T18:00:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=396314"},"modified":"2019-09-17T15:33:30","modified_gmt":"2019-09-17T15:33:30","slug":"bitcoin-altcoin-season-short-term","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-altcoin-season-short-term\/","title":{"rendered":"Bitcoin Stagnant in Short Term Could Lead To Mini Altcoin Season"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has been trading sideways for the better part of the last three months and is consolidating in what most crypto analysts claim is a triangle pattern. <\/span><span class=\"s1\">The lack of action in Bitcoin markets has caused traders to seek profits elsewhere and have turned to the altcoin market where a mini-sized alt season may be underway.<\/span><\/p>\n<p>However, it is likely that the alt season is short-lived, as altcoins still have a number of long-term moving averages they&#8217;ll need to break through for a real trend reversal.<\/p>\n<h2>Bitcoin Price Trading Sideways Leaves Room for Alts to Shine<\/h2>\n<p class=\"p1\"><span class=\"s1\">Throughout much of 2019, <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> rallying into a new bull market has sucked all the excitement and capital out of the altcoin market, causing mass capitulation and many calling for the death of altcoins altogether.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/12\/crypto-crisis-pro-trader-compares-altcoins-to-crushing-student-debt\/\">Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But ever since Bitcoin price started consolidating between $9,000 and $12,000 in a tightening triangle, boredom has set in and crypto traders frustrated with the lack of profits in Bitcoin have since turned to altcoins like <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> and <a href=\"\/tag\/ripple\" rel=\"nofollow\">Ripple<\/a> once again.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">One crypto analyst expects Bitcoin to stay stagnant yet another two weeks, and during this time, altcoins will continue to moon. The analyst says that the leading crypto asset by <a href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">market cap<\/a> isn\u2019t ready to break out of a \u201ctrend cluster\u201d it is currently stuck in.<\/span><\/p>\n<p>https:\/\/twitter.com\/macnbtc\/status\/44940289?s=21<\/p>\n<p class=\"p1\"><span class=\"s1\">However, the analyst also says that Bitcoin price trading in a \u201ctight range like this is perfect for\u201d Ethereum and other major alts paired against BTC. The sideways trading for another two weeks should leave room for a mini, \u201c2 week alt season.\u201d<\/span><\/p>\n<h2>Altcoins Finally Begin to Make Up For Lost Ground<\/h2>\n<p class=\"p1\"><span class=\"s1\">As <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> consolidates, and altcoins begin to take off, Bitcoin dominance is falling after reaching highs not seen since before the crypto hype bubble occurred. However, any alt season that plays out over the next two weeks during Bitcoin stagnancy is likely to be short-lived.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to another crypto analyst, most altcoins will face a trio of longer-term moving averages acting as resistance that\u2019ll keep swatting back any gains until a \u201cmajor trend reversal\u201d happens.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Big Picture<a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin<\/a> dominance is falling<br \/>Bitcoin going sideways<br \/>ALTs staging local breakouts<\/p>\n<p>Most ALT\/$BTC pairs will face 50\/100\/200 Daily MA Resistance &amp; will keep getting rejected until a major trend reversal<\/p>\n<p>Play local breakouts &amp; book profits against key resistance <a href=\"https:\/\/t.co\/dwWRBIiiQn\" rel=\"nofollow\">pic.twitter.com\/dwWRBIiiQn<\/a><\/p>\n<p>&mdash; Trading Room (@tradingroomapp) <a href=\"https:\/\/twitter.com\/tradingroomapp\/status\/19691776?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 17, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Until altcoin\/BTC pairs begin to break above these moving averages, any rallies are likely to be dead cat bounces or relief rallies amidst further downtrend. However, altcoins paired with USD appear to have formed a higher low at this most recent bottom, which could suggest that the carnage in the altcoin space is finally over.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/uniquehot.com\/2019\/09\/16\/is-70-the-limit-for-bitcoin-dominance\/\">Is 70% the Limit for Bitcoin Dominance?<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Ethereum has been breaking out on both its USD and BTC trading pairs, and XRP is in the process of breaking out across both pairs as well. With Bitcoin trading sideways, major altcoins like <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> and <a href=\"\/tag\/ripple\" rel=\"nofollow\">Ripple<\/a> will likely continue to make up for any ground it lost against Bitcoin during its parabolic rally.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has been trading sideways for the better part of the last three months and is consolidating in what most crypto analysts claim is a triangle pattern. The lack of action in Bitcoin markets has caused traders to seek profits elsewhere and have turned to the altcoin market where a mini-sized alt season may be underway. However, it is likely that the alt season is short-lived, as altcoins still have a number of long-term moving averages they&#8217;ll need to break through for a real trend reversal. Bitcoin Price Trading Sideways Leaves Room for Alts to Shine Throughout much of 2019, Bitcoin price rallying into a new bull market has sucked all the excitement and capital out of the altcoin market, causing mass capitulation and many calling for the death of altcoins altogether. Related Reading | Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt But ever since Bitcoin price started consolidating between $9,000 and $12,000 in a tightening triangle, boredom has set in and crypto traders frustrated with the lack of profits in Bitcoin have since turned to altcoins like Ethereum and Ripple once again. One crypto analyst expects Bitcoin to stay stagnant yet another two weeks, and during this time, altcoins will continue to moon. The analyst says that the leading crypto asset by market cap isn\u2019t ready to break out of a \u201ctrend cluster\u201d it is currently stuck in. https:\/\/twitter.com\/macnbtc\/status\/44940289?s=21 However, the analyst also says that Bitcoin price trading in a \u201ctight range like this is perfect for\u201d Ethereum and other major alts paired against BTC. The sideways trading for another two weeks should leave room for a mini, \u201c2 week alt season.\u201d Altcoins Finally Begin to Make Up For Lost Ground As Bitcoin price consolidates, and altcoins begin to take off, Bitcoin dominance is falling after reaching highs not seen since before the crypto hype bubble occurred. However, any alt season that plays out over the next two weeks during Bitcoin stagnancy is likely to be short-lived. According to another crypto analyst, most altcoins will face a trio of longer-term moving averages acting as resistance that\u2019ll keep swatting back any gains until a \u201cmajor trend reversal\u201d happens. Big Picture#Bitcoin dominance is fallingBitcoin going sidewaysALTs staging local breakouts Most ALT\/$BTC pairs will face 50\/100\/200 Daily MA Resistance &amp; will keep getting rejected until a major trend reversal Play local breakouts &amp; book profits against key resistance pic.twitter.com\/dwWRBIiiQn &mdash; Trading Room (@tradingroomapp) September 17, 2019 Until altcoin\/BTC pairs begin to break above these moving averages, any rallies are likely to be dead cat bounces or relief rallies amidst further downtrend. However, altcoins paired with USD appear to have formed a higher low at this most recent bottom, which could suggest that the carnage in the altcoin space is finally over. Related Reading | Is 70% the Limit for Bitcoin Dominance? Ethereum has been breaking out on both its USD and BTC trading pairs, and XRP is in the process of breaking out across both pairs as well. With Bitcoin trading sideways, major altcoins like Ethereum and Ripple will likely continue to make up for any ground it lost against Bitcoin during its parabolic rally.<\/p>\n","protected":false},"author":517,"featured_media":396321,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625,16894],"tags":[428,679,6664,1946,3680],"class_list":["post-396314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","category-ripple","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-ethereum","tag-ripple"],"acf":[],"yoast_head":"\n<title>Bitcoin Stagnant in Short Term Could Lead To Mini Altcoin Season<\/title>\n<meta name=\"description\" content=\"Bitcoin price trading sideways for months has led to an increased interest in the altcoin market, where assets like Ether and XRP are surging.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-altcoin-season-short-term\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Stagnant in Short Term Could Lead To Mini Altcoin Season\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price trading sideways for months has led to an increased interest in the altcoin market, where assets like Ether and XRP are surging.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/bitcoin-altcoin-season-short-term\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-17T18:00:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-09-17T15:33:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2019\/09\/bitcoin-altcoin-crypto-shutterstock_687427129-860x573.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"573\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/uniquehot.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Stagnant in Short Term Could Lead To Mini Altcoin Season","description":"Bitcoin price trading sideways for months has led to an increased interest in the altcoin market, where assets like Ether and XRP are 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