Top 10 alt-coins analyzed, 20%+ move potential 🚀
I know many of you are pondering over the alt-coins trajectory come the end of January. Stick around for a meticulous breakdown of three scenarios, each backed by solid reasoning.
Casting an eye over the chart of the top 10 alt-coins, weighted equally, we're approaching the historical green S/R zone. The proximity raises a compelling question – will we breach this zone ahead of the next market correction?
My custom indicators are hinting that the long-term cycles are gripping onto their bullish stance (cue the blue and pink bars). We had a pivotal cycle cross in October, marking the start of the bullish trend we're riding, which has propelled the alt-coins up by 70% – hats off to SOL for leading the charge.
The quick cycle (that’s the green line for you), although diminishing in vigor, is still defending its bullish territory. It shrugged off the bearish phase rather briskly, which underscores the prevailing bullish strength. The fastest cycle (our red line), known for its rapid swings, is not showing any signs of weakness either.
Drawing from these observations, I'm leaning towards scenarios A or C being the front-runners, with the odds favoring a climb of 20% or more from our current position.
Yet, we mustn't overlook the potential for a counter cycle or a wave correction. The market's recent spurts have left behind momentum gaps that suggest an overextension, often a precursor to price corrections.
A glance at BTC shows it's holding its peak, a critical factor that historically gives alt-coins a leg up for a bullish pump. But with an expected correction as we wind up January (have a look here: www.tradingview.com/x/JklRPzuG/), it nudges scenario A into a probable outcome. And given the market's bullish temperament, scenario C cannot be ruled out, albeit as a less likely contender.
Follow me for regular updates and if you want to day trade, then follow my SPY daily updates.
Happy Holidays!
Casting an eye over the chart of the top 10 alt-coins, weighted equally, we're approaching the historical green S/R zone. The proximity raises a compelling question – will we breach this zone ahead of the next market correction?
My custom indicators are hinting that the long-term cycles are gripping onto their bullish stance (cue the blue and pink bars). We had a pivotal cycle cross in October, marking the start of the bullish trend we're riding, which has propelled the alt-coins up by 70% – hats off to SOL for leading the charge.
The quick cycle (that’s the green line for you), although diminishing in vigor, is still defending its bullish territory. It shrugged off the bearish phase rather briskly, which underscores the prevailing bullish strength. The fastest cycle (our red line), known for its rapid swings, is not showing any signs of weakness either.
Drawing from these observations, I'm leaning towards scenarios A or C being the front-runners, with the odds favoring a climb of 20% or more from our current position.
Yet, we mustn't overlook the potential for a counter cycle or a wave correction. The market's recent spurts have left behind momentum gaps that suggest an overextension, often a precursor to price corrections.
A glance at BTC shows it's holding its peak, a critical factor that historically gives alt-coins a leg up for a bullish pump. But with an expected correction as we wind up January (have a look here: www.tradingview.com/x/JklRPzuG/), it nudges scenario A into a probable outcome. And given the market's bullish temperament, scenario C cannot be ruled out, albeit as a less likely contender.
Follow me for regular updates and if you want to day trade, then follow my SPY daily updates.
Happy Holidays!
Momentum is your friend. Think beyond the box, expand your reality and you will be ahead of the trend.