OTHERS trade ideas
Altcoins - Basing in October: Will November Bring the Big Move?It seems we’re still in a basing or rotating cycle. We’re close to a trendy move, regardless of whether it’s bullish or not, as we near the end of this consolidation phase.
October has turned out to be #Flatober instead of #Uptober. That’s alright; the tighter the consolidation, the greater the chance November will make a definitive move in any direction.
I still lean bullish, but this week’s daily price action is a bit worrisome. Crypto appears to be used as a hedge, while equities remain the predominant risk-on asset going into CPI, making new highs as crypto retraces back to last week’s initial levels.
Basing for #October > Moving on to #November.
The new ALTSEASON is starting. Will you miss the train?We see many indicators both technical and fundamental this week that point out the alt coin market may be on the verge of a price explosion, what we most commonly refer to as 'Altseason'. So far on this Cycle we've had the 1st from June 2023 to March 2024. The 2nd however that completes the Bull Cycle, tends to be more aggressive.
On this chart we view the Crypto Total Market Cap excluding the Top 10 on the 2W time-frame. As you can see, the price found support on the MA50 (blue trend-line) for 4 consecutive candles and now with higher closings, looks ready to make the decisive break-out.
Relative to the previous two Cycles, it appears that we are on the exact part on the 0.382 Fibonacci retracement level, where both final Parabolic Rallies (altseason) started. The RSI and MACD in particular showcase significant resemblance with December 2016. A MACD Bullish Cross, is the only indicator left to confirm the rally.
Since both of those historic rallies reached at least the -1.5 Fibonacci extension, there is no reason yet to expect otherwise. As a result, a 3T target towards the end of 2025 appears to be feasible.
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OTHERS (crypto market cap without top 10) breakout - time rangeIn this chart, I have shared OTHERS (total crypto market cap without top 10 MC) chart and their accumulation,parabolic move (bullrun) and distribution time range.
By comparing OTHERS on this cycle with the previous cycles, we can come to conclusion that the reacumulation phase either: 1. it has ended and we should see a parabolic very soon, or 2. it can last up to December 2024.
Others/BTC: Bearish Continuation 2024"In this weekly chart of Others/BTC, I’m analyzing a possible continuation of the downtrend. Over the past few months, Others/BTC has followed a pattern of sharp declines followed by brief recoveries. The highlighted areas show previous 60% drops, marked by the yellow downtrend line and blue retracement boxes. Currently, the asset seems to be repeating a similar structure, where it rejected a key resistance level, as indicated by the white arrow.
I expect a bearish continuation toward the lower support region, which could result in another 60% decline from current levels. The long-term Bear Market Support Band has also served as a key resistance during this period. Unless we see a strong break above this band, a drop to the 0.06 level seems plausible.
Key Targets:
Profit target: 0.06 (as indicated by the bottom of the previous cycle)
Stop loss: 0.25, just above the Bear Market Support Band, in case of a breakout.
This setup is based on historical price action and resistance points, so close monitoring is required. Be cautious of any sudden shifts in momentum as the market remains volatile.
Don't buy alts right nowWe are approaching a very serious resistance on Rsi at 5d, I don't know what will happen next, but now is definitely not the time to buy alts, as I wrote in previous posts, the best time to buy was December, so let's wait and see. We may continue to grow a little bit more, but I think the growth is very limited.
Don't buy alts right nowWe are approaching a very serious resistance on Rsi at 5d, I don't know what will happen next, but now is definitely not the time to buy alts, as I wrote in previous posts, the best time to buy was December, so let's wait and see. We may continue to grow a little bit more, but I think the growth is very limited.
Others (ALTS) when uptrend?I calculated the statistics of when the viola hits the bottom and starts to rise, and there are 5 places on the chart where each time the viola found the bottom between 5-15 December, so it is possible that this time it will work on these dates in December, because this is a common statistic and it has worked before. Perhaps the alto has already found the bottom, but the real movement may only be in December. Let's see what happens this time.
Why I think altcoins have found a bottom to bitcoinI think we are in the same place as in 2019 September, altcoins have not fallen to bitcoin anymore, in the near future altcoins will break the downtrend, and start their rise to bitcoin, but that doesn't mean there will be an alt season. Bitcoin is still as weak, and it may fall lower, but this is the best time to sell bitcoin into altcoins.
Others - Alts finally starting to bottom!Top 100 currencies without the top 15, especially without stable currencies that just add dead weight to the index.
Forming a big liquidity grab from the last oscillating low and most pivotal point of this current move,
Slowly moving away from "no man's land" with a good chance to close above this week.
The daily chart is currently above the safety zone and a change in character will occur if $200 billion is regained (on the daily).
The chart looks very good from a technical perspective, it is only a matter of time before the uptrend confirms.
Perfect long entry yesterday and should hold above 174B