The time to be bullish on ALTS is NOW.

It hasn't been that long (October 05 2023) since we called for the start of a major Alt Season ahead:


As you can see, we caught the absolute bottom on the 494.45 Support, a pattern purely modeled out from the January - April 2023 sequence. On today's market update we look it from a wider perspective by comparing the current price action to the previous 2 Cycles.

Based on the 1W RSI and Gaussian Channel, the current market consolidation since December is very similar to August - October 2020, April - May 2016. We are above the Gaussian Channel, which turned green after the week of January 08, supported by the blue Lower High Support Zone. The 1W RSI has pulled back from the December 2023 overbought levels, which is again similar to the 2020 and 2016 sequences. We are basically on the symmetrical Support level where the past consolidations bottomed.

As a result, the Alts Market seems to be around the lowest level one can enter before rallies similar to late 2020 - 2021 and early 2016 - 2017 take place.


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