Total 3 Analysis & name your alt
Updated
Similar to Bitcoin, altcoins also began a correction in March.
Although this correction has been steeper, it remains a correction. After breaking below the 600B support, the total altcoin market found support around 500B and is now trading back above 600B, suggesting a false break.
The confluence of falling line resistance and horizontal resistance around 650B indicates that a break above this level should accelerate gains for the total altcoin market and potentially lead to a retest of the previous high.
In a more optimistic scenario, if Bitcoin heads towards 100k, we could even see a 1T market cap for altcoins.
P.S. I see a lot of altcoins with great potential. Would you like me to look into any specific ones for you?
Regards!
Mihai Iacob
Although this correction has been steeper, it remains a correction. After breaking below the 600B support, the total altcoin market found support around 500B and is now trading back above 600B, suggesting a false break.
The confluence of falling line resistance and horizontal resistance around 650B indicates that a break above this level should accelerate gains for the total altcoin market and potentially lead to a retest of the previous high.
In a more optimistic scenario, if Bitcoin heads towards 100k, we could even see a 1T market cap for altcoins.
P.S. I see a lot of altcoins with great potential. Would you like me to look into any specific ones for you?
Regards!
Mihai Iacob
Note
Total 3 corrected yesterday from under falling trend resistance.In my opinion, this is just correction, not the start of a new leg down.
As long as the price stays above 600 T bulls need not worry
I wait for the price to clear resistance to load up alts
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