Hello, it's Cryptolyze, I hope you're doing well this Wednesday, July 5th, 2023. Today, I'm making an extra video for you. So it's following the daily life.

The daily life, I've been talking about, especially the very important Altizone theme. But I didn't go deep into the subject because I wanted to make an extra video for you today. A little special about Altizone.

Does she happen or not? I answered that in the daily life. Don't forget to watch it, it will be at the end of the video if you want.

And. . .

So overall, the question is, ok, but how do we prepare ourselves? How do we know? How do we see it?

I was actually giving you my way of analyzing, my way of understanding exactly what it takes for it to work, what is currently happening, whether technically or fundamentally, that could determine the passage of a Null Season, and why, at the time, we are yes or no in a Null Season, I'll give you all the answers now. First, we need to understand what the Halcyzons are. What is the Halcyzons?

It's a transfer of liquidity from majors to minors. What does it mean? It means that we transfer liquidity from BTC to Ethereum, or BTC to Ethereum, then Ethereum to the Halcoins, or BTC to the Halcoins including Ethereum.

It's a transfer of liquidity from one to the other. So, in the daily life, I explained that it was not the Halcyzons yet. For several reasons.

At the moment, basically, we have the ETFs, BlackRock, which are being deposited, which have not been validated. So at the moment, there is just speculation, there is no liquidity contribution. It is very important to take into consideration.

We have CME which is being valued through the CME Group, which is yesterday's daily. I told you about it yesterday, in which we had an injection of $1 billion, but it remains low. Really very low compared to what we have been able to know.

And we see that the dominance of BTC remains very high. because we are waiting for the injection of liquidity following the validation of ETFs. If the ETFs are validated spot, then we will have a colossal liquidity that will enter the BTC.

So colossal being maybe a little premature, but in any case we will have a lot of liquidity that will enter the BTC and it will only enter the BTC because it will be an ETF BTC. And so that means that it will take time for there to be a distribution. It's the same principle that at some point we will have the liquidity that will enter It will simply fill the liquidity pools until the course is stable, that we are a form of consolidation.

At this point, we will have a drop in liquidity that will occur. Logical, because we will have structural profits that will break. At this point, we will have a drop in liquidity that will go to other projects, with the advent of other projects.

So this progression of liquidity, you have to see it a bit like if you pour water on sand, And at some point, the water will go where there is less resistance. And that's exactly what's going to happen. That is to say that there, it will actually pour out towards the BTC, it will fill up until at some point it starts to resist.

At that point, it will pour out into the other projects. And I think it will be like, as we have had the habit during the last bull run, it will be BTC Ethereum Alcoin with an Ethereum that may over-scent the BTC in a second. So for me, fundamentally, Yes, we can arrive very quickly in an Alcison, but already in the first time, the ETS spots must be validated, so at the level of the BTC.

Potentially, there is a great chance that we will find an ETH that may also arrive in the crowd if it is validated, we must not be afraid. I think that 3 to 6 months later, we will have a small ETH that will arrive slowly on it, so that means a second contribution of liquidity that will arrive at this point on ETH, and so we will have a transfer that will take place on Alcison, but it will take time again. level of equity to spread.

It's not something that's going to happen intensely and you also have to understand what the high season really is. The high season is a super performance of all the cryptos outside of BTC and Ethereum on Ethereum and BTC. I prepared graphs for you to understand that but suddenly it also implies that it is not because BTC will value that the alcogs will stay at the bottom.

No, that is to say that the alcogs will also value. but we don't have to steal the alcoins while we have a BTC that is lethargic or that is in neutral phase. Generally when it's like that we will find ourselves with a BTC course, we will take this one, the BTC course which will grow in the first place, then it will be flat, so relatively neutral, even a little bit descending, and on that this flow of equity will go into the alcoins, see OTH directly and after the alcoins, but in this case it is done this way.

So it's as long as we have an increase in dominance, then a question of dominance. You said that we had a support zone at 57, between 57 and 58, in which we would have resistance, so it was supported during this part, so it will become resistance, and it may be the area of retest that we will have for a lower enfranchisement at the level of the dominance of BTC, to then transfer liquidity into the altcoins. On this, we tend to always look at total 3, which represents the totality of the market cap of the cryptos, so all the cryptos except BTC and Ethereum, to see a little bit where it is.

But that's just a notion of market cap, it's not enough for me. I already talked about this in the daily life of earlier. What is interesting, it will be several things.

It will be 1, total 3 divided by BTC, which gives me the ratio of the market cap on the market cap of BTC to see exactly what is the impact, the ratio between the two. If it pushes up, it implies that I have a super performance of the crypto volatility on BTC, outside of Ethereum. So it gives me all the altcoins on BTC and so it gives me the general valuation.

We need to understand that we could have 4, 5, 6, 10 projects that are growing, others that are lethargic, but it prevents us from having a good overall idea. But it's not necessarily enough. It's important for me to correlate with Ethereum and BTC.

As I told you, liquidity will go where it's easier. So for institutional liquidity, where it's easier, it's BTC in a first instance with a TSPOT. Then we will have Ethereum with a generic valuation, because it will happen in the world where Ethereum will be considered either as a commodity or in any case will have a status.

. . neutral between the two in which there will be a valuation that will occur.

And so we have a liquidity transfer that will also go on Ethereum, in which we will have a rebound here because we are on the Ethereum ratio on BTC, we will have a structural rebound that will occur here to start again. I aim here for the coherence at the IMA 200 level which is positioned here with the block order of structural retracement here, still at 0058. It has not moved, it is waiting for us, the little one.

in which we could have this injection of liquid, so we would break strongly at the BTC level, to then have a transfer of liquid and go back to the Ethereum level. So it can be a little lower, it's not a problem, we can even test a little lower in the 0053, in which we could have a reaction that is a little later, it's not a problem. And once we have this movement at the Ethereum level, it's time for me to prepare to have a movement at the alcoi level, and that, I have something else that allows me to see it.

It's a formula that is a little more complex. It's quite easy to understand, but it's a little more complex than we're used to. It's the total of market cap 3, so except BTC and Ethereum, divided by BTC, so the ratio I presented to you earlier, divided by the ratio, so the same thing, but on Ethereum.

That is to say that I will compare the force of the total market 3 compared to BTC and compared to Ethereum. This ratio allows me to determine if. .

. we have a super performance of ALCOIN compared to BTC or a super performance of ALCOIN compared to ETH. The advantage of this comparison is that it allows me to determine what is the ratio of liquidity transfers.

If you understood my principle, BTC, ETH, ALCOIN. So that implies that if I have a higher valuation of the BTC ratio, it implies that I am not ready to do the ALSISN again. On the other hand, if I start to go towards a notion of total 3 valuation, Compared to Ethereum, it implies that I'm starting to set up, towards the implementation of an Alt Season which will happen after the Ethereum valuation and transfer of liquidity on Ethereum.

So how do we read this type of graph? It's simple, if we understand it's a ratio over a ratio, so it allows us to compare two elements. It implies that if it goes up here, it means that we have the total 3 ratio over BTC which is valued.

So it means that we have an overperformance of the alcohons over BTC. Conversely, it means that we have an overperformance of the alcohens on Ethereum. And so it gives us a consistent anchor point on what is happening.

And what is very interesting to see is that we are currently on IMEI 200, in which we have touched once already here and we are touching here again. So it implies that we could have a structural rejection that occurs here. So it implies an overperformance of the alcohens compared to BTC and therefore not yet a liquidity transfer on Ethereum.

to then arrive at a transfer of the terms. And when we look at the classical technical analysis, just structural, nothing that is ultra funky, it's really pure structural, we could consider that we have highs, lows, highs, lows, so it often means that we are in a compression principle in which we can have a high here that will not necessarily be very high, but in any case that will go to look for the 0. 5, a retracement of 0.

5, in which hop. . .

we can then have a second BCA structure and then have here either a K on the up or a K on the down depending on the next bull run and constant fluidity. But in any case, the fact of seeing this compression here, it implies that the two ratios are getting closer strongly and this approach gives us the indication that we are waiting for the fluidity and that we are lacking in fluidity. From the moment of a fluid injection, we will see something that will leave a little bit of this style.

in which we will have an acceleration yesterday, then after a retracement, effective with the transfer of liquidity where we follow the first liquidity and we follow the second liquidity. And on that we will have the ability to determine where the liquidity is and when we will go into a notion of halcyon. But again, if you follow the daily life, I would treat that in the daily life, there it was just a little focus to give you a little more information, it's maybe a little technical, there I try to simplify greatly, but there are many other techniques to be able to determine it, that's one of mine.

And I hope you like it, if you did, don't forget to leave me a like. If you haven't watched the daily, I put the link. And if you like fundamental videos, I talked about Sui yesterday, in which I come back on the fundamental and the technical part.

I also put the video and I tell you see you later at 13h30 for a video on the CRO, the crypto of crypto. com. See you soon!