The Day When ALT Season BeginssteemCreated with Sketch.

in #steem2 years ago (edited)

end of the steem downtrend steemusd.jpg

oK guys, today is the day according to my analysis. This is the day when altcoin season begins.

I had a very clear confirmation for the STEEM/USD trend reversal to the upside. Price has been sitting near $0.2 support level, a very strong support. Market fails to break it and holding strong above it. This is a good indication of an upcoming trend reversaal.

But its not only STEEM that will be reversing. Many top coins will follow the same path. In fact many have already started the uptrend and continue to produce higher highs and higher lows. Steem is slightly behind, but it could catch up preaty soon.

According to Bitcoin Dominance chart, it is ready to drop from 70% down to 60% or even lower. This can give a very strong boost for alts, short term at least. But if we look at the long term chart of BTC.D it bounced off 200 Moving Average on Weekly chart. This fact alone is huge. It could be a long term BTC.D downtrend continuation.

Wealth and prosperity to all!