Bloktopia: Your Altcoin ChoiceI am starting now by showing the linear chart, it is all about perspective. The right perspective can uncover a hidden world.
Look at the long-term Bloktopia (BLOKUSDT) chart, what do you see?
After June 2022, the action goes flat and the candles become almost invisible. This is the sideways period. This is a neutral phase, the transition phase.
A bull market is followed by a bear market. A bear market is followed by neutral action. Swings, up and down long-term. The neutral action is followed by a new cycle and this cycle is a bullish one because the last one was bearish.
The bearish market we can say doesn't exist, it is simply the correction of the bullish market.
Anyway, let's get to the analysis.
This is a dead market and for the market to become alive again it has to do something, something different. More of the same wouldn't bring any life to the market. Lower won't do the market any good. What to expect in this situation? Change!
What does change imply?
A new trend.
What type of trend.
A rising trend.
Ok. The highest bullish volume in years comes July 2024 as a bullish candle, just a big buy order. TA wise, a wake up call. The first signal alluding to the change that is soon to come.
Since not much positive can be extracted from the chart, we have to translate the negative into positive. The fact that the bearish momentum is gone, the fact that there is no bearish volume, works in the bulls favor.
Marketwide action and the market cycle also imply that conditions cannot forever stay the same. In short, Bloktopia is trading at bottom prices, from the bottom we grow.
The best part about bottom prices is that the next cycle is open to maximum growth. If prices are high, growth potential is limited to resistance overhead. When prices are low, a pair can grow like there is no tomorrow.
Thank you for reading.
Namaste.
