Alt season? by knircky

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alt · @knircky · (edited)
$24.62
Alt season?
Is an alt-rally what steem needs?

Well there is some good news.

![photo_2019-10-04_17-07-44.jpg](https://cdn.steemitimages.com/DQmVojVEGZh75SAWhfJJvG37PHcdfXPqrsyU46E232pKcLD/photo_2019-10-04_17-07-44.jpg)

I was just going through some charts with my good friend @famunger and going over bitcoin dominance via [@woobulls ](https://charts.woobull.com/global-altcoin-vs-bitcoin-cap/) fantastic analytics. Check out his tweet: https://twitter.com/bloxperts/status/1180228333738582019?s=20

Here is basically what it comes down to:

# 1. We are oversold
Now the RSI indicates very strong oversold condition and every time this happened, alt coins rallied, heavy. 

# 2. Every time we were oversold there was huge spike 
Thus it is quite likely that some fireworks may be coming up in soon

# 3. We have just bounced against the longest uptrend.
This trend has started in 2013 and has steadily been going up.

On the downside we are running against a downtrend that has started since 2018. If that prevails, it would be bad news for alts.


So there are 3 good reasons that together Look fantastic, and some serious risk.


The only thing I am very certain about is that the next 6 months won't be too boring.
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 62 others
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vote details (131)
@stackin ·
$0.21
Waiting for that one more drop but it might never come 😂

Posted using [Partiko iOS](https://partiko.app/referral/stackin)
👍  
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@knircky ·
$0.61
Hahaha
👍  
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@ahmanik47 · 
Always delight see you ulta chart to many about  cryptocurrency. Thanks sir

Posted using [Partiko Android](https://partiko.app/referral/ahmanik47)
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@steem-plus ·
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@freiheit50 · 
Let's buy and hope!
Yes, steem could indeed have found its bottom.
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@diogosantos ·
$0.62
Completely agree with the way you finish the post, I would even say that within 3 months things will become a lot more interesting...
👍  
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@vlemon ·
$0.60
Thank you for this graph and optimism ! 
Are you on discord ? Could you add me when you have time ? Mr. crypto lemon #8021
👍  
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