altcoin markets
The Most ‘Vertical’ Leg for Altcoins Since 2021 Is Now on Deck, Says Crypto Analyst – Here’s His Outlook
Published
1 week agoon
By
adminA popular crypto analyst says technical indicators are suggesting that the altcoin market is gearing up for a massive breakout.
Pseudonymous analyst TechDev tells his 446,400 followers on the social media platform X that the altcoin market cap structure may be repeating a historic bullish pattern.
“Altcoin accumulation. The most vertical leg since 2021 appears on deck.”
Looking at his charts, the analyst suggests that the crypto market cap, excluding the top 10 digital assets, is repeating a pattern seen during the 2016 and 2021 market cycles when it broke out, retraced and then surged to a new top.
The analyst also suggests that the altcoin market cap’s logarithmic moving average divergence (LMACD) indicator is flashing a breakout trend. The LMACD indicator is designed to reveal changes in an asset’s trend, strength and momentum.
Says TechDev,
“Altcoins are ready. The market is not.”
Next up, the analyst also says that Bitcoin (BTC) appears on the two-month chart to be halfway through its current cycle based on historic precedence and the Bollinger bands, a price volatility gauge. The upper and lower bands widen when volatility declines while the bands contract when volatility is about to explode.
Says TechDev,
“BTC: looks about halfway there.”
Bitcoin is trading for $67,059 at time of writing, up nearly 3.6% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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altcoin markets
Now’s the Time for 100x Altcoin Positions, According to Crypto Analyst Jason Pizzino – Here’s His Outlook
Published
3 months agoon
February 6, 2024By
adminA popular crypto trader believes that the altcoin market is close to carving a bottom and is just months away from a massive move to the upside.
In a new strategy session, Jason Pizzino tells his 310,000 YouTube subscribers that the total altcoin market cap has flipped a key resistance level into support, which may hold until a bull run begins later this year.
However, he warns there may be a slight move to the downside from its current level soon.
“There may be a little more downside, but nothing so severe compared to what we had in the previous cycle.
So if you’re waiting for those 20x, 50x, 100x altcoins now is that time. And yes, I continue to put out content like this because I think this is going to be your best time considering where we sit in the market.
If you weren’t bagging up cryptos at these particular lows [from April 2023-October 2023], I think now is probably one of the safer opportunities, because the market is showing it’s broken out of previous resistance [around $270 billion] and potentially will come back to it or close to that particular support.”
The trader appears to be looking at the TOTAL3 chart which tracks the the total market cap of digital assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins. His chart suggests that TOTAL3 will likely revisit the support level of around $270 billion before launching the next leg up.
The trader also believes that the total market cap for alts may soar for about 12 months beginning in November 2024, when there is a US presidential election, similar to what happened in the 2020 cycle.
“Then give it to the end of the year when we get that election running, as you can see here November 2020 markets go ballistic from that point, and essentially from that point, roughly about 12 months, not from now, but from that period, roughly around the election in 2024 you’ve got about 12 months to go for the crazy bull market. This peak here is about 2025 to early 2026.”
At time of writing, TOTAL3 stands at $479.47 billion.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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