Altcoin Season - Daily Squeeze + Monthly Squeeze
As I have been covering for quite sometime the altcoin market is experiencing a strong move higher, with a powerful monthly squeeze carrying the market higher, it appears that the altcoins are set to get a further tailwind with the presence of a daily squeeze within the firing monthly squeeze.
Daily Squeeze
It is worth mentioning that a daily squeeze within a firing squeeze of higher timeframe is typically a strong continuation pattern, further lending credence to the idea of a period of ETH outperformance to BTC
Monthly Squeeze
The broad outlook of the altcoin market
The altcoin market is completing the FIRST stage of a breakout phase in the market, which is a retest of prior highs, I believe that this is NOT the final move, I believe that this is similar to the period in late 2015/ early 2016 when the alt market started to gain traction.
In other words I see tremendous upside for investors who are able to position themselves PRIOR to the true breakout, as a result I would recommend that investors lookout for opportunities to add to positions, as a brief ease is possible (albeit less likely with ETH breaking to new ATHs).
-TradingEdge
Daily Squeeze
It is worth mentioning that a daily squeeze within a firing squeeze of higher timeframe is typically a strong continuation pattern, further lending credence to the idea of a period of ETH outperformance to BTC
Monthly Squeeze
The broad outlook of the altcoin market
The altcoin market is completing the FIRST stage of a breakout phase in the market, which is a retest of prior highs, I believe that this is NOT the final move, I believe that this is similar to the period in late 2015/ early 2016 when the alt market started to gain traction.
In other words I see tremendous upside for investors who are able to position themselves PRIOR to the true breakout, as a result I would recommend that investors lookout for opportunities to add to positions, as a brief ease is possible (albeit less likely with ETH breaking to new ATHs).
-TradingEdge
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.