Altcoins about to capitulate- this bull market cycle has been extremely difficult to navigate in the sense that altcoins are most of the time trading like crap with sporadic bursts to the upside
- most of that can be attributed to eth/btc being in a macro downtrend
- the chart of OTHERS is in a clear distribution formation and pending a daily close below the neckline the descending triangle likely gets confirmed
- more downside likely
OTHERS trade ideas
Altseason part 2 is starting - Stop the drama and focus ! CRYPTOCAP:BTC.D CRYPTOCAP:TOTAL BINANCE:BTCUSD BINANCE:ETHUSD
Despite ALL the recent negativity due to the market's decline, the crypto market remains bullish ๐.
We witnessed the first part of the altseason in November, with significant gains on many coins.
Now, it is normal to see a correction before the second phase of the altseason begins.
โ Why is this correction happening
This correction is a natural part of the altseason period. It allows:
- Existing investors to take profits ๐ฐ.
- New investors to enter the market at more attractive prices ๐ค.
So, stop the drama! And focus on preparing your wallets for the next phase ๐ฅ.
Alctoins: Get Ready for TakeoffHere's the deal:
Altcoins are heating up: Bitcoin's taking a breather, and that means it's altcoin season! The chart shows we're forming higher lows, and people are buzzing about it online.
Breakout on the horizon? We're facing some resistance, but if we break through, things could get really exciting.
What to watch for:
Listen to the crowd: When everyone's shouting "to the moon!", "alctoin season" you know something's up and deleverage.
Don't get greedy: Remember, the market can turn on a dime. Stay smart and manage your risk.
Bottom line: This altcoin chart is looking juicy.
Comment your predictions
Alt Season Finally About to Begin
It has been a pretty brutal stretch for the majority of alts since this chart topped in the first week of December. However, after almost 2 months of accumulation we are seeing more and more compression on this chart ( notice the higher lows and lower highs).
Once this pattern breaks, which I believe it will sometime in the next 7-10 days (based on the current rate of compression), alts will start ripping to the upside.
I think the market makers knew how bullish the majority of retail sentiment was at the beginning of this month (new year, new administration) and wanted to delay the true breakout until sentiment was more bearish.
I will post my elliot wave analysis for the bigger picture on this chart once we get a breakout to the upside. I think this wave will be explosive and we will start to see daily candles with >50% on many different alts.
Bottom line, if you own alts, this should be the chart you are focused on. And its almost ready.
ALTCOINS This parabolic curve is about to initiate the AltseasonEach Bull Cycle has its own parabolic trend that guides the trend to the new peak.
In 2019-2021 that only broke during COVID (obviously) and then June 2021. It held throughout the majority of the Bull Cycle and gave the fairest exit possible.
Right now, the altcoin market is closing in on the current parabolic curve.
We are a few weeks tops before the next bullish wave on this curve, which will be this Cycle's Altseason.
The time to invest in alts is running out..
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$OTHERS - Descending Broadening Wedge Breakout marks Alt SeasonIt's trumps Inauguration and BINANCE:BTCUSDT Hit new local highs
Meanwhile, CRYPTOCAP:OTHERS is at the cusp of a volatile Descending Broadening Wedge.
A Break above, will mark the start of the alt season and the start of the next mania.
Trump ready to start the fireworks
what others say about the market?CRYPTOCAP:OTHERS
โ
The Others chart, which shows the market cap of all altcoins other than the top 10 coins, is fluctuating at the corner of its triangle pattern, which could grow to a historic high of 492 on the first step if it breaks the downtrend line and resistance at 395.
โ
This chart will start its new upward wave with the breakdown of the major resistance of 492 for the following purposes:
550, 620, 712, 812
โ
The start of a new bullish wave on this chart will cause the growth of all altcoins ๐
โ ๏ธ Disclaimer:
This is not financial advice. Always manage your risks and trade responsibly.
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Alts and memecoin gains for this yearThe chart analysis indicates a bullish trend for altcoins and memecoins up until December 1st, supported by the anticipation of rate cuts in September. This aligns with the concept of left-translated cycles, where market cycles peak earlier. Investors should prepare for potential significant gains but remain cautious of the inherent volatility in the crypto market.
some green candles for alts?In the analysis of the "Others" chart, we can see that with this consolidation around the 330-340 range, there's a possibility of reaching 360. It can be said that in the next few days or upcoming candles, altcoins are likely to turn green ๐.
NOTE: my charts are reverse
OTHERS is having a trend reversal.The crypto total market, excluding the top 10 cryptocurrencies, has been consolidating since the end of November 2024. Now, it seems this consolidation phase is over on the daily timeframe.
The bearish divergence has played out, and CRYPTOCAP:OTHERS is breaking out of its downtrend.
A potential surge of +70% is on the horizon, with resistance and support levels indicated by the green lines.
Based on this analysis, I expect the altseason to start soon.
DYOR!
ALTSEASON to $3 Trillion with BITCOIN at $200k??This is not the first time we make the comparison of the current Altcoin (Crypto Total Market Cap excluding top 10) Cycle with the 2014 - 2017 one. But it is the first time that we make this comparison, including Bitcoin's (BTCUSD) Cycles.
As you can see, there are striking similarities between the Alt Cycles:
a) Both bottom formations were in the form of a Cup pattern
b) A Pivot trend-line that turned from Resistance to Support
c) The MA50 (blue trend-line) was supporting once broken until the next Bear Cycle
d) A Bull Flag after the MA50 break-out found support on the MA50 and 0.382 Fib and started the Altseason (green Channel Up)
e) That Bull Flag started with a MACD Bearish Cross and ended on a Bullish Cross
It appears that we are now on the stage where Alts have the 1st consolidation of the Parabolic Rally. What's remarkable and the key difference between the two Cycles, is that this time BTC has diverged massively and made a new All Time High (ATH), while alts haven't.
Of course this is directly attributed to the Bitcoin ETF, which attracted enormous amounts of capital that pumped the asset beyond the technical restrictions of this model. This may be an indication however, that part of this capital may be diverted to Alts, once partial BTC profit taking takes place, as it has happened during every Altseason.
In any event, if the Cycle continues to replicate the 2017 rally, it should reach the -1.5 Fibonacci extension, which would translate to at least a $3 Trillion Altcoin Market Cap, while Bitcoin would be close to the $200k level! That may seem unrealistic in terms of market cap, but so did the levels during the 2020/21 and 2017 rallies. It all depends on whether Bitcoin can continues to attract outside capital with this pace, which will in turn grow interest on the rest of the crypto market and also on the rate of adoption (companies, consumer use of crypto).
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