{"id":396314,"date":"2019-09-17T18:00:12","date_gmt":"2019-09-17T18:00:12","guid":{"rendered":"https:\/\/ktsl888.com\/?p=396314"},"modified":"2019-09-17T15:33:30","modified_gmt":"2019-09-17T15:33:30","slug":"bitcoin-altcoin-season-short-term","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-altcoin-season-short-term\/","title":{"rendered":"Bitcoin Stagnant in Short Term Could Lead To Mini Altcoin Season"},"content":{"rendered":"

Bitcoin price<\/a> has been trading sideways for the better part of the last three months and is consolidating in what most crypto analysts claim is a triangle pattern. <\/span>The lack of action in Bitcoin markets has caused traders to seek profits elsewhere and have turned to the altcoin market where a mini-sized alt season may be underway.<\/span><\/p>\n

However, it is likely that the alt season is short-lived, as altcoins still have a number of long-term moving averages they’ll need to break through for a real trend reversal.<\/p>\n

Bitcoin Price Trading Sideways Leaves Room for Alts to Shine<\/h2>\n

Throughout much of 2019, Bitcoin price<\/a> rallying into a new bull market has sucked all the excitement and capital out of the altcoin market, causing mass capitulation and many calling for the death of altcoins altogether.<\/span><\/p>\n

Related Reading | Crypto Crisis: Pro Trader Compares Altcoins To Crushing Student Debt<\/a><\/strong><\/em><\/p>\n

But ever since Bitcoin price started consolidating between $9,000 and $12,000 in a tightening triangle, boredom has set in and crypto traders frustrated with the lack of profits in Bitcoin have since turned to altcoins like Ethereum<\/a> and Ripple<\/a> once again.<\/span><\/p>\n

One crypto analyst expects Bitcoin to stay stagnant yet another two weeks, and during this time, altcoins will continue to moon. The analyst says that the leading crypto asset by market cap<\/a> isn\u2019t ready to break out of a \u201ctrend cluster\u201d it is currently stuck in.<\/span><\/p>\n

https:\/\/twitter.com\/macnbtc\/status\/44940289?s=21<\/p>\n

However, the analyst also says that Bitcoin price trading in a \u201ctight range like this is perfect for\u201d Ethereum and other major alts paired against BTC. The sideways trading for another two weeks should leave room for a mini, \u201c2 week alt season.\u201d<\/span><\/p>\n

Altcoins Finally Begin to Make Up For Lost Ground<\/h2>\n

As Bitcoin price<\/a> consolidates, and altcoins begin to take off, Bitcoin dominance is falling after reaching highs not seen since before the crypto hype bubble occurred. However, any alt season that plays out over the next two weeks during Bitcoin stagnancy is likely to be short-lived.<\/span><\/p>\n

According to another crypto analyst, most altcoins will face a trio of longer-term moving averages acting as resistance that\u2019ll keep swatting back any gains until a \u201cmajor trend reversal\u201d happens.<\/span><\/p>\n

\n

Big Picture#Bitcoin<\/a> dominance is falling
Bitcoin going sideways
ALTs staging local breakouts<\/p>\n

Most ALT\/$BTC pairs will face 50\/100\/200 Daily MA Resistance & will keep getting rejected until a major trend reversal<\/p>\n

Play local breakouts & book profits against key resistance pic.twitter.com\/dwWRBIiiQn<\/a><\/p>\n

— Trading Room (@tradingroomapp) September 17, 2019<\/a><\/p><\/blockquote>\n