I would like to share with you a quick update on the overall look of the altcoins market, we are looking at all the Altcoins vs Bitcoin (ALTSBTC) pairs.
We also put our focus mainly on all altcoins minus the TOP10, which move closer to Bitcoin rather than the smaller alternative coins which follow different wave cycles and patterns.
The Altcoins Market Starts To Looks Good
A new All-Time Low for many altcoins started to come in last year around August, there were a few minor exceptions where some altcoins hit their lows in June and July, but most of the old strong projects printed a new ATL on Aug. 2019.
Many of these altcoins have been printing higher lows since, changing the trend from to since we are also having higher highs for these.
Some smaller projects and altcoin pairs continued to go lower and produced new All-Time Lows on the months that followed. The market is so much bigger now and the cycles are taking longer, the bots move the coins in groups.
Just learning to recognize a few altcoins from each group and you can basically figure out all the ones that will move in a wave.
This last Bitcoin move is really good for the altcoins and is also a signal that they can continue going up.
Anyways, even though we are seeing new lows for many altcoins pairs, the weekly close is higher than the previous weeks which ends up being and the new low hit becomes a long-wick.
Now there are hundreds and hundreds of charts that hit new lows... Once you hit bottom, the only place left to go is up.
We are seeing a build-up of bottomed out coins and many more that are already moving up, the altcoins market is heating up a lot.
In the next few days/weeks, we are likely to experience a wave-like something we haven't seen for a while... Remember that the bear market kept going for 2 years+...
As the bull cycle develops, we will see higher highs being hit as well as strong bursts at times that push prices really high up.
The trick to profit from all is is by buying early, waiting patiently, and setting your sell orders on target before the jump.
Buy in, sit back and relax... Come back later and collect all the profits that you've won.
This is not financial advice.
Thanks a lot for your support.