Total3 - Alts Cup and Handle target met retrospective draw 50%
Lessons learned: Bullish target for cup and handle for breakout of alt season in 2024 met exactly
I did spot this much earlier which allowed me to get more aggressive on alts earlier - in reality I added and this chart also with BTC making similar set up encouraged me to not dump my alts at the low when many capitulated right before the market took off.
Just sharing the draw to spread the education and a good example of a cup and handle and where do you position the target. In this case on the break out line which had a capping descending grind line acting as a signal to buyers. You can see the larger volume green candle coming in to play as confirmation that the alt season was well under way.
Also when this happened many alts made an Asc triangle confirming upside direction in the next cycle I hope this helps people know when to add into alts. I suspect some bullish chart pattern will develop and until the capping trend line is broken the volume does not really come in
So now maybe the Alt bull run may be truncated because initial targets are all ready been hit and we are no into over performance - I hope not but we must be careful to lose any money but equally careful not to leave too much on the table. A normal crypto bull alt cycle we would expect to close out late summer 2025. With equities being so over valued maybe its early this cycle, watch careful after 20 Jan when Trump takes office. Watch careful after 1st qtr as many tax returns are done then in other countries and lets hope it runs 10x until next summer and we all get rich! sounds too good and too easy to be true!
I did spot this much earlier which allowed me to get more aggressive on alts earlier - in reality I added and this chart also with BTC making similar set up encouraged me to not dump my alts at the low when many capitulated right before the market took off.
Just sharing the draw to spread the education and a good example of a cup and handle and where do you position the target. In this case on the break out line which had a capping descending grind line acting as a signal to buyers. You can see the larger volume green candle coming in to play as confirmation that the alt season was well under way.
Also when this happened many alts made an Asc triangle confirming upside direction in the next cycle I hope this helps people know when to add into alts. I suspect some bullish chart pattern will develop and until the capping trend line is broken the volume does not really come in
So now maybe the Alt bull run may be truncated because initial targets are all ready been hit and we are no into over performance - I hope not but we must be careful to lose any money but equally careful not to leave too much on the table. A normal crypto bull alt cycle we would expect to close out late summer 2025. With equities being so over valued maybe its early this cycle, watch careful after 20 Jan when Trump takes office. Watch careful after 1st qtr as many tax returns are done then in other countries and lets hope it runs 10x until next summer and we all get rich! sounds too good and too easy to be true!
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