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RE: BITCOIN (BTC) is Rising but Altcoins are in RED! Why? I explain in this blog using Phasic and Non-Phasic cycles.
Hey! I'm an amateur, both in crypto and in TA. I don't want to spread FUD, but situation You're writing about and we all observe today makes me wonder.
- most of the time BTC and alts are more or less in sync
- most of the time when BTC dips moderately, alts tend to fall harder
- most of the time when BTC is fighting resistance level for extended period of time, alts tend to "get scared" that it'll drop. It's like You said in one of Your comments, when BTC sneezes, alts instantly get full blown cold
- now I learned that also when BTC rises significantly, alts can get out of sync and go the other way
In longer term - BTC will start making bullish run because of fork. People will drop alts to get some of BTC gold --> alts drop. It looks like BTCgold run may be the all time high for BTC as Your prognosis say. What comes next, according to Your charts, is an unforgiving correction, maybe even to 2800. Do I imagine alts move the other way when BTC is crushing? Hardly.
No matter how You turn, situation looks bad for alts.
I'm sad.
My phasic/non phasic are all sub daily moves. On a trend move, Bitcoin moves the tides and the Alts flow with it. So, the sub daily to a few day phasics/nonphasic