✴️ FetchAI | Key To The Altcoins Market (Name Your Altcoin #54)This one is my choice and this is the key.
If you read this, you will know exactly what to expect for the rest of the Cryptocurrency market.
You will also be able to predict what Bitcoin will do as all the USDT pairs have this exact same chart. Fetch.AI went ahead and thus revealing what happens to the rest of the market next.
All the altcoins we've been looking at have this exact same pattern. 1, 2, 3, 4, 5.
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#1 | Is the March 2020 low. The low is the same for all the cryptos since this is when the Covid lockdowns were launched.
This sets the bottom of a previous correction and what follows is a strong bullish wave or bull-market.
#2 | The peak happens in April 2021. This is true as well for most of the cryptocurrency market. This we call the "orthodox top". We get a higher high Q4 2021 but this is only part of a flat correction (3-3-5), an irregular top.
#3 | The initial low for this correction marks the capitulation low. This happened in June 2022 for most of the altcoins allowing for some variation of +/- 1 month. Some hit this initial low in May 2022 while others hit it in July 2022, it makes no difference.
#4 | Is the lower low and here we also need to allow for some variation. After the capitulation, the market went to print a new low in November 2022 while some pairs printed a higher low, technically no difference.
Between #3 and #4 I can draw the consolidation pattern you see me mentioning in all the charts.
#5 | Here I give everything away... This is the recovery that turned into a bullish wave which is sure to end up as a bull-market.
First, we will have a correction like March 2020, step down and strong but it will end in a higher low, not now but later.
#5 | The recovery first moves above EMA10 and EMA21 with some consolidation. Hundreds of Altcoins are at this point.
Then it moves straight up and finds resistance at EMA50, just to cut through it the next week. Many are in this phase.
Then it keeps on growing and growing...
It goes above its April 2022 high, then its May 2022 and even above its January 2022 high.
FETUSDT continues bullish and set for additional growth.
Now, you can look up any Altcoins vs Tether (ALTSUSDT) pair and put up the weekly timeframe and see at which level it is trading on number 5.
If above EMA10/21, you know it has much more to give.
If below EMA50, still early based on what you see.
What one does, the rest follows...
Fetch.AI went ahead and Bitcoin also has the same, exact, identical chart...
What does this tells us?
I hope you find this information useful.
Namaste.
