Content pfp
Content
@
0 reply
18 recasts
21 reactions
eggman 🔵 pfp
eggman 🔵
@eggman.eth
gmeow So, btc.d and others.d are decent enough indicators of altcoin szn, but I've one indicator I far prefer. total3/btc (market cap) essentially says that when total3 = btc market cap, the cycle is peaking. We're barely off the lows in this regard, and just tested support on the 20w for the first time. The 20w has actually been a really strong indicator for this, firmly drawing the line as support/resistance to date. So, if this theory plays out correctly, it means that ALL alts are currently very undervalued - just barely off their lows overall. The last time we broke above the 20w was Feb '21 - we went up for 2 weeks, dipped back for 2 weeks to test the support, bounced, and then surged up non-stop for 2 months. Currently, we broke above the 20w on November 18th - went up for 2 weeks, dipped back for 2 weeks to test the support, and we've just bounced. May the odds be ever in your favour.
12 replies
8 recasts
50 reactions
Ramsey 🎩🤝 pfp
Ramsey 🎩🤝
@ramsey
For TA like this, I always wonder of it is a repeating pattern or a self fulfilling prophecy. Otherwise, yeah, great work egg. 200 $DEGEN
1 reply
0 recast
2 reactions
eggman 🔵 pfp
eggman 🔵
@eggman.eth
yeah, it's very "history repeats" just because "history repeats". Worth keeping in mind these indicators are only useful until they fail without warning. Still, we humans do love patterns, and following them without even realizing it! 201 $degen
1 reply
0 recast
1 reaction
Ramsey 🎩🤝 pfp
Ramsey 🎩🤝
@ramsey
Fair enough. I vividly remember people swearing on the rainbow pattern. Until BTC went below it. I have not heard anyone mention it in a few years now. I still think TA is largely not applicable for crypto. Even with BTC, the pattern repeats until somthing macro related messes it up. Or the interest rate is below/above expected. Or if Nasdaq shits the bed. Or it's tuesday.
0 reply
0 recast
1 reaction