Decimated: Your Altcoin ChoiceWhat's your view on this chart?
I believe that the market cycle is king. The cyclical nature of the market controls most of the price action. If sellers decide to sell in a bull market, prices grow regardless of how much selling pressure is present. If buyers are active within a bear market, we tend to see new lows all of the time. Lower lows and lower lows regardless of how much buying power buyers can put together. To me, the market cycle is king.
Here DIOUSDT started trading in December 2021. A launch rise and then a strong decline. This decline coincides with Bitcoin's peak price in November 2021. Bitcoin peaked and this signaled the start of a bear market. This bearish cycle reaches the entire Cryptocurrency market. Here we can see DIOUSDT going down strong based on this broader cycle.
After the market hits bottom, we get a consolidation period, sideways. The accumulation phase. This accumulation is always followed by a bullish breakout. Late 2023 to early 2024 was bullish for DIO, and this period was also bullish for Bitcoin and the Altcoins.
Here DIOUSDT produced a low in September 2024 but the bullish wave that was present in late 2024 is very small. A small bullish wave means weakness and this weakness is reflected in the present day long-term lower low.
The orange zone, support—buy—accumulation etc., has been pierced but remains valid. This is the time to buy, buy big and buy strong.
If DIOUSDT performed poorly in this last 2024 bullish wave; What about now, what to expect?
We can interpret the chart in several ways:
1) The action in late 2023 was really strong reaching almost 2,000%. Which means that there is interest in this project and potential for huge growth has been proven. If this pair can grow this much in a transition year, how much more can it grow in a bull market year?
2) The fact that it has been weak lately can mean that it will have a weak bull market. (I am not of this opinion.)
3) Insiders are selling big time just to go full blown bullish in 2025. (This is more my view.) Imagine the insiders saying, "Sell everything and sell as much as you can or want, we will buy everything up when prices go as low as possible."
In short, there is huge potential for growth for this pair. The rest was written for your entertainment. Thanks a lot for your continued support.
Here are some targets based on Fibonacci extension:
Easy targets:
— 0.055737 for 1,387%
— 0.140195 for 3,641%
Strong targets:
— 0.224653 for 5,895%
— 0.393569 for 10,403%
Very strong:
— 0.607071 for 16,101%
New All-Time High:
— 1.583324 for 42,156%
Leave a comment with your thoughts.
Simple and simplified: DIOUSDT (Decimated) is about to experience a strong phase of growth. The same dynamics in late 2024 also happened in 2022. It didn't quite move with the market in the intermediary waves but it did so in the bigger waves. This can mean that DIO can do good in this upcoming bull market phase.
Namaste.
