Hello,
Bitcoin has again shown that it is the leader of the Crypto Market.
When Bitcoin started its Bull Run, it drove the Crypto Market up.
When Bitcoin corrected lower, the Crypto Market followed lower.
However, this correction may be beneficial for the rest of the Bull Run. Although I cannot be sure whether the Bull Run will continue or not.
With this correction and the Weekly close, we can see hidden bullish divergences for Bitcoin and Altcoins as we can see on the screenshots I made with TradingView :
So after bearish divergences (red lines) we have hidden bullish divergences (green lines).
I haven't looked at all Altcoins but I think many must have this setup.
These signals given by the RSI are Bullish but I do not know what the magnitude of the rise will be.
And there are of course other indicators to take into account. But I wouldn't be surprised if the Bull Run were to continue and it is possible that the Alt Season will continue a bit before Bitcoin Dominance really starts to rise again.
This is not investment advice. And the possibility that I'm wrong is also to be taken into account.
The crypto market is young, volatility is high, do your own research and measure the risks before making a decision.
Thanks for reading my post and happy earnings :)
Publish0x Links : Newcomers - Bitcoin Story - Economic Transition - Blockchains are Dangerous - Alt Season May - June 2021 - Doge Trading 08 May 2021 - Bitcoin Bull Run 2013 and 2021
