The altcoin market cap just hit its 1week MA200, right at the bottom of the 2.5 year Channel Up.
This has completed a -57.89% decline from the most recent High, the same decline percentage as the ones that formed the August 5th 2024 and December 26th 2022 bottoms.
The 1week RSI has also almost hit its 2 year Support.
If bullish waves are as symmetric as bearish waves, we can expect at least a rapid rise / ALTSEASON to 575 B (+199.05%).
If the market structure follows the June 2023 - March 2024 bullish wave, we can expect a more brutal rally to the 2.0 Fibonacci extension at 865 B.
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This has completed a -57.89% decline from the most recent High, the same decline percentage as the ones that formed the August 5th 2024 and December 26th 2022 bottoms.
The 1week RSI has also almost hit its 2 year Support.
If bullish waves are as symmetric as bearish waves, we can expect at least a rapid rise / ALTSEASON to 575 B (+199.05%).
If the market structure follows the June 2023 - March 2024 bullish wave, we can expect a more brutal rally to the 2.0 Fibonacci extension at 865 B.
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
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.