BITCOIN (BTC) is Rising but Altcoins are in RED! Why? I explain in this blog using Phasic and Non-Phasic cycles.
I've in the past posted about the ""Phasic" and "Non-Phasic" nature of Bitcoin's correlation with the Altcoins. During the recent $3,045 bottom for Bitcoin, it turned up and reversed ahead of the Altcoins which seemed to be "stuck" behind and still printing red. Meanwhile, Bitcoin kept rising and wasn't looking back. Clearly at that time, Bitcoin and Altcoins were Non-Phasic. Then, sure enough, the Altcoins also turned, almost in concert, and rose and started printing green prices.
Currently, Bitcoin is rising and continues its rise from last night. Meanwhile, the Altcoins are all languishing in slight to moderate red price prints. They all seemed to be Phasic last night as the whole cryptosphere jumped. But overnight, the non-phasic cycles kicked in.
An example of the phasic to non-phasic shift is when you see two cars infront both with the left yellow blinkers on. At first, the lights are off sync and blink in syncopation. As time goes by, the rhythm of the blinks get closer and become more syncronized until they overlap to near correlation. Then this correlation begins to separate and the blinks become once again syncopated.
The phase cycles of sentiment are no different. Most often, Bitcoin leads. But I had also shown last week how NEO seemed to have the batton and BTC followed temporarily.
Overall, the Bitcoin cycle is the dominant and as such, it is the moon that moves the tides and all Altcoins swim in the same cryptosphere ocean. I believe the Altcoins should soon become "phasic" with Bitcoin and rise as well.
I am loving these longer term analysis. I cannot trade hourly (or even daily TBH) so I am finding the longer time horizon great.
That's my method, it's called arbitrage.
So is it a bad idea to trade all cryptos on BTC instead of fiat? or it doesn't matter?
Thanks for your advise.
I trade on USD, but if you prefer BTC, it matters not. However, a /btc chart analysis would be good to do and I"ll try and pair the charts with /btc and /usd....it just doubles the work.
Hello from rainy Connecticut. You’ve probably forgot what you said in the post you were going to do LTC yesterday maybe we can find time to do it soon. 🐈🐾❤️
Here is LTC update, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/lite-coin-ltc-is-still-correcting-and-wave-c-is-not-yet-done-this-analysis-explains
Thank you for this information.
Appreciate this analysis. Been wondering what is going on as I'm getting hit with the alts. The blinking signal analogy is great!
As Olivia Newton John might say, it's time to "Get Phasical!"
She's 69 years old!!! Amazing how she still looks younger.
hahah, that's great! Let's do it then, ON-J!!!
Hae Jin, yesterday i bought some NEO at ~33.5$, after push to 37 its back at ~33. do you think that NEO is dropping much further or better wait for the next rising?
//by the way i would really like to see some TA for IOTA, if its possible :)
I just posted an update on NEO:
https://steemit.com/neo/@haejin/neo-update-working-on-a-b-c-d-e-wave-iv-before-wave-v-up-check-this-blog-for-details
thx :)
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.
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
This post has been ranked within the top 80 most undervalued posts in the second half of Oct 08. We estimate that this post is undervalued by $12.20 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Oct 08 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.