Was just checking up on the health of alt season when I realized that the chart looked real familiar...
Of course, it's a fractal, so all the usual caveats apply. But the similarities are striking - even the timeframes match. *Arguably*, alts have been in a bear market vs BTC since their peak (i.e. BTC.D low) in Sep 2020. An alt crash would be a continuation of this larger trend.
I'm just sharing what I see - I would love it if alts continued pumping for a few more months. But this does give some cause to be wary of HTF Alt/BTC long plays until BTC.D more convincingly pushes below support at 60. Let's see what happens.
Of course, it's a fractal, so all the usual caveats apply. But the similarities are striking - even the timeframes match. *Arguably*, alts have been in a bear market vs BTC since their peak (i.e. BTC.D low) in Sep 2020. An alt crash would be a continuation of this larger trend.
I'm just sharing what I see - I would love it if alts continued pumping for a few more months. But this does give some cause to be wary of HTF Alt/BTC long plays until BTC.D more convincingly pushes below support at 60. Let's see what happens.