Alt Season: The Calm Before the Storm?
Updated
Hi fellow traders, Crypto21Official here! 🚀
After a strong impulse in the crypto market, we’ve had a teaser of what could be an alt season. The crypto market cap chart (excluding the top 10) showed a beautiful surge to $450 billion, a key level that marked the recent high.
Since then, we’ve retraced around 27%, and the downtrend appears to be losing momentum. Right now, we’re dipping into a key buy zone, where I’ve marked a potential double-bottom pattern. If confirmed, this could signal a bullish reversal and set the stage for further growth.
On the Bitcoin Dominance (BTC.D) chart, we still see room for dominance to rise slightly before a healthy decline could pave the way for a full-blown alt season. Historically, such patterns have preceded explosive altcoin growth.
Why Could January Be a Game-Changer?
My Take
I remain bullish, expecting January to be a pivotal month for Bitcoin, which could open the floodgates for altcoins to follow. History doesn’t repeat itself, but it often rhymes. Let’s see if the market plays along. 🌕
What are your thoughts? Are we on the brink of something big? Let me know below! 👇
After a strong impulse in the crypto market, we’ve had a teaser of what could be an alt season. The crypto market cap chart (excluding the top 10) showed a beautiful surge to $450 billion, a key level that marked the recent high.
Since then, we’ve retraced around 27%, and the downtrend appears to be losing momentum. Right now, we’re dipping into a key buy zone, where I’ve marked a potential double-bottom pattern. If confirmed, this could signal a bullish reversal and set the stage for further growth.
On the Bitcoin Dominance (BTC.D) chart, we still see room for dominance to rise slightly before a healthy decline could pave the way for a full-blown alt season. Historically, such patterns have preceded explosive altcoin growth.
Why Could January Be a Game-Changer?
- Tax-Loss Harvesting Rebound: As the year ends, investors often sell assets to optimize for tax benefits. By January, these funds tend to flow back into the market, sparking renewed interest.
- U.S. Election Cycle Momentum: Political developments surrounding the U.S. election cycle could act as a macro catalyst, influencing risk-on markets like crypto.
- Historical Patterns: As we’ve seen before:
Bitcoin typically leads the market with a strong rally.
Altcoins dip or consolidate.
Then, altcoins blast off, following Bitcoin’s momentum. 🚀
My Take
I remain bullish, expecting January to be a pivotal month for Bitcoin, which could open the floodgates for altcoins to follow. History doesn’t repeat itself, but it often rhymes. Let’s see if the market plays along. 🌕
What are your thoughts? Are we on the brink of something big? Let me know below! 👇
Trade active
Hi fellow traders, Crypto21Official here with an update! 🚀
It’s unfolding largely as expected (and hoped for)! The Bitcoin Dominance has seen a slight decrease, and the alt season market cap is beginning to show growth. We’ve already noticed some cautious but promising price action on several altcoins, which could be early signs of momentum building.
That said, it’s still early, and we need confirmation before calling this a full-blown alt season. Let’s stay patient, keep analyzing the charts, and prepare for what could be an exciting next phase. 🌕
What do you think? Are we at the start of something big, or is it too soon to tell? Share your thoughts below! 👇
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