BTC.D Soon Transitioning to its Last Corrective Leg

Idea is that Bitcoin dominance has been correcting the monster leg down back in 2017. This suggests the move up we've seen since the beginnings of 2018 is corrective. I believe the correction we're seeing is a Zig Zag so in terms of the likely end of the B-wave, anywhere from now up to the 0.786 are good candidates. The fact that it seems to be supported by the .50 leads me to believe there still some way to go. Once B is complete, I'm expecting a relatively drawn out decline which could take us up to 2022 and beyond. This doesn't necessarily mean the BTC will be going down against USD, it just wouldn't be providing the ridiculous returns one may achieve with specific alts.

If dominance continues to the 0.786, I'd expect many of even the decent alts to be squeezed to the point of bankruptcy.
Many are struggling with cost of development and liquidity on most is pretty dreadful.
No doubt there will be big winners, good luck on finding those.

Note: This is simply an idea based on very limited research and skills.

Any EW traders with a different view, feel free to share.

Commentaire:

So far so good. the 50 is lost for now. Would like to see a close below in February for confirmation.