We'll magically see better days on everything (alts included) when Bitcoin has a confirmed bottom.
Why? It will correlate with a better macro environment, better liquidity, better sentiment and every other indicator out there.
Remember: markets are leading and not the other way around.
Hence why it's pointless pulling up every indicator out there saying we'll moon tomorrow when Bitcoin says it's not time to do so yet.
If this wasn't the case at all we would have mooned and gone up a long time ago.
And if your time horizon is years? My friend, we all know it'll eventually go up again. I don't need 1000s of indicators for that. I want to plan for what happens now so I can take full advantage of what happens later.
No altseason when there's no confirmed Bitcoin bottom.
The fact that we haven't seen any meaningful bounce on alts since Bitcoin made a local bottom is exactly as I previously stated:
"All roads lead to Bitcoin right now"
Sure, the bounce on Bitcoin hasn't been that huge yet.
But despite the $10k jump on BTC, alts have done even less.
This is in stark contrast to what everyone keeps saying:
"Just wait till Bitcoin bounces! I've analyzed the bitcoin dominance chart, I've looked at others vs BTC, I've watched the trendlines! Altseason starts now!"
Well... It doesn't. Not unless we at the very least get a clean reversal/confirmation of Bitcoin's downtrend.
ONLY THEN will all those metrics (btc dominance, others, total3, etc.) have meaning again and be worth analyzing.
I always like to say that being a bull is also knowing when temporarily not to be one.
It's great engagement to make predictions and say altseason start tomorrow (again and again and again) for every metric you want to pull out and want to see.
Yet the one that confirms will never get the equal credit despite being right most of the time.
Be a bull, but be one when needed.