Thought I'd share some interesting findings while charting the other day. I first noticed this looking at Doge price and I think it's a great example of what a real altseason could look like. I will start off with my usual disclaimer however, I'm not a financial advisor nor do I pretend to be one on the internet. Please consult with a licensed financial professional for financial advice, not some clown on the internet who calls himself The Dood. With that out of the way, lets take a look at what is currently going on in the crypto markets.

The price of BTC is curently at $58K USD at the time of this writing. As the price of bitcoin rises the price of several altcoins seem to be following the BTC price action in USD! However, not many people are paying attention to the upside potential in BTC SATS. I first noticed this looking at the DOGE chart at the start of its rally.

So you can see as the price of BTC started to rise so did the price of Doge in USD. Now lets look at the price action in Satoshis.

You can now see that as the DOGE rally progressed the price in Satoshis began to rise topping out around 8 cents. I do believe that's an ATH for DOGE.

Now the interesting part that nobody is really talking about is that this is normal price action for DOGECOIN. Anyone that has been trading for awhile knows that you buy DOGE when it starts to dip below the 30 SAT range, accumulate for as long as it sits below 30 sats, then start selling on the way up over 100 sats. I think the highest I've ever seen DOGE was around 300 satoshi. As a general rule of thumb, I tend to empty my bag in the 200 SAT and above range. Again, not financial advice this is just how I've traded DOGE over the last 5 or 6 years and it has never disappointed. Looking at this 5 year chart you see this is pretty standard price action for Doge / BTC trading pairs.

Side note: IDK if DOGE is going to $1. One thing I've learned about crypto is anything is possible. I'm more than skeptical of $1 DOGE but I also never believed we'd see 50K BTC. What I do know is that this is pretty standard price action for Dogecoin and a possible harbinger of good fortune for other altcoins.

Let's Take A Look At Some Other Winners!

I think Dogecoin is trying to show us what a REAL altseason could look like in 2021!

WAVES

Waves rarely disappoints and is touching on ATH price ranges. For me, this was a real eye opener as I charted last night. For anyone that doesn't know WAVES is an active and established project and has been around for several years. Development continues and there is a very active community. I always look for active projects and rarely buy into dead projects with no community or development.

I'm not sure what the WAVES ATH was but I'm pretty sure it was somewhere in the $15 - $20 USD range. Currently we're at $12 and climbing. That chart looks pretty impressive. Also a little intimidating to a guy like me that rarely chases tops. I just don't buy pumps! I look for bottoms, and I look for breakout potentials. If i don't find them, I walk away! I NEVER BUY TOPS! OK, maybe once or twice. FOMO gets the best of all of us. Let's take a look at this same chart in Satoshis.

Man what a different story this is! WAVES is following the price of BTC in USD. The current BTC price is lifting the WAVES price in USD amount. Look at the potential growth in Satoshis. It doesn't even look like a rally! It's barely budged!

Lets say we touch on that .0005 candle. Seems like a reasonable target to me. At .0005 SAT the price of WAVES is now $29 USD as long as BTC stays in this price range. We're looking at a double up from the current price of $12. Now looking at that other big green dildo with the nice wick if we touch on .001 we're looking at a price of $58 if bitcoin price stays in this range.

LITECOIN

We can play out this exact same scenario with Litecoin and several other tried and true well established classics! Current price of LTC is $238... Looking at the USD chart, I'd never chase this and might even consider putting in a short. Honestly, I've already tried a couple times. Shorts aren't working for me, I wonder why?

Now looking at the upside potential in SATS, this is completely staggering! Again, there hasn't been a rally in Satoshis. Litecoin almost always follows Bitcoin up! At the chart high of .02 SATS Litecoin now has the potential of being at $1200. The chart in SATS hasn't really even budged yet.

HIVE

I wanted to include HIVE here but because we're a fork of STEEM the data isn't exactly perfect. Just looking at the Binance chart in SATS the potential upside is around $1.78. If you look at historical data from STEEM, you see the potential upside is much higher. Again, be careful, forked projects are a little different when comparing chart data. The original project generally outperforms the fork but hopefully we'll become the exception to that rule. The $1.78 price range with current data seems an appropriate target however.

When Alt Season?

Although it feels like AltSeason, in all reality, AltSeason hasn't even started yet. Most of these charts haven't budged. I've been going through some of my favorite alts that still have development and active communities and charting them this way. DYOR and look for yourself. There are a lot of promising charts. If and when #altseason arrives, we're going to see face melting price action like we've never seen before.

Strategies

A BTC price correction could further pummel altcoin markets. Eventually BTC price has to correct. This rally is insane. I've been making lists of coins I like and I'm waiting for a nice correction to take place to see how it affects alt prices. My next dip buy will probably be VERY heavy in alts.

I've already started to DCA (dollar cost averaging) into several projects I've been watching and like. I almost always tend to DCA into trades.

In the meantime I'm researching newer coins and slowly have begun to fill my altcoin moon bags!

Caution:

A serious correction or black swan event could really put a monkey wrench in this plan. The upside potential for a lot of these charts is huge and IMHO worth the risk / reward. There are no sure things in investing. All any of us can do is look at the data, look for possible outcomes, and speculate on those outcomes.

Another question I have to ask myself is whether or not alts have finally decoupled from BTC movements. I honestly don't think so, but I guess we'll find out by the time this bitcoin rally is over. Historically alts tend to rally when KING BTC finally calms himself and stabilizes. Looking at historical data is generally a good indicator of potential price targets.

Disclaimer:

Again. DYOR. This is posted in a public forum as conversation and nothing more. Nothing here is meant as financial advice. The Dood is not a financial advisor and I do not pretend to be one on the internet. I'm just a Dood trading some shitcoins and having fun. Always look to a licensed financial professional for financial advice, not a cartoon character on the internet. The fact this needs to be a disclaimer is idiotic, but there it is! Live long and prosper!

Posted Using LeoFinance ^Beta