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Bitcoin Technical Analysis & Bitcoin News Today: Are altcoins pumping or dumping? Is this altcoins season? I’ll use technical analysis on the Bitcoin price to make a Bitcoin price prediction. Watch the video to learn more!

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Carl Eric Martin (The Moon)

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Video Transcription

in this video bitcoin is currentlybreaking out the big question is will wesee follow-through after we see someresistance in this current blue area arewe seeing any bearish divergences I wantto show you exactly everything that I’mtaking a look at right now in theBitcoin chart and if you think that thatsounds interesting then I think that youshould definitely watch video hello guysand welcome to the moon my name is Carland I read you in this cryptic elizyvideo so this quick update I want tofirst of all take a look at the factthat we had a nice little surge in theold course yesterday however if wecompare against Bitcoin now we can seehow the old codes are now dumping backso we can see yesterday the the bitcodominance came down all the way downto six to six point one six to six pointtwo something but now bitcoin is gainingback some of that dominance previouslylost and yeah so people yesterday we’realready talking about how we are seeingan altcoin season but I don’t think thata 1% up in the all-comers is an altcoinseason I mean 1 percent in the dominanceof course we saw some altcoins pump morethan other altcoins obviously but youcan still see how the trend here if wego back to one year over the Bitcoindominance we haven’t really seen anymajor difference in the in the trend soa small little spike to the downside andan altcoin season in my opinion is if wesee the Bitcoin Dom has come downsignificantly so if we go back to theyearly or even to all here let me justlet me show you all coins seasons forexample this was a massive all seasonthe bit codominance fell sharply andthen right here was a nautical seasonand here we had a nice little autoseason but ever since this time whichwas back in May 2018 we haven’t had asingle old corn season people keeptelling me that all cohesin is coming inand the Bitcoin is going to lose itsdominance but we’re not really seeing itthe trend isthat basically is going to the upside interms of dominance and this is somethingthat I’ve been talking about for a verylong time that I believe that the oldscores have been extremely overvaluedand I still believe that they are mostlyovervaluedso yeah let’s not expect an all-seasonuntil we actually see confirmation fromthat and a small little jump in theBitcoin dominance like this is just notenough for for anyone to call this analtcoin season let’s just take a quicklook at the beta comprise also we arebreaking out out of this upperresistance and what I was saying ofcourse is that we need to wait for thisweekly close in order for me to say thatI think that we are definitely going fora massive breakout here obviously theworst-case scenario here is that theprice comes back down again before theweekly close and in that case in theworst case scenario we are left withanother wick luck which all right thereand right thereand these two times and these bigwigsare of course not very bullish so that’swhy we have to wait for the weeklyclosed until we can see that this weeklyclose this weekly town friend isactually getting a nice chance of doingthis reversal but I was waiting for Iwas looking for some bearish divergencehere because when we see that that isusually a sign of weakness but as youcan see here there is no bearishdivergence on the daily which is ofcourse a sign of strength and in termsof resistance it seems like Bitcoin isrunning into a little bit of resistancepossibly in these regions this is wherewe got a small rejection but so far thisis not a really big rejection we’re justwe topped out and basically is justcooling off basically because the hellbitcoin is in this range and it’s justbasically cooling off I’m still gettingthese higher lows in the short term butthe resistance up here is the this the8.9 K level and let’s see if maybe therewill be some kind of an ascendingtriangle maybe forming or potentiallysome kind of bull flag but so far we’rejust range bound yeahlet’s see if we can break bullish out ofthis range or bearish out of this rangeI do believe that this could be asignificant move I hope you enjoyed thisvideo please leave a thumbs up if youdid and if you haven’t seen this videothey click right there right now andI’ll see you guys tomorrowOh