Synapse | Altcoins Market Dynamics & New ATHThe October 2023 support has been activated. We will look at the daily and weekly timeframe for this one.
The main chart above is the daily.
In October 2023 we have the main and major low.
In January 2024 we have a higher low.
Needless to say, the low/higher low dynamic leads to a strong bullish wave, in this case, more than 600% in size.
Present day, after the correction, we have the same dynamic:
In August 2024 we have the main and major low.
In September 2024 we have a higher low.
Now, this is the type of chart structure that would call for a consolidation phase before a bullish wave, this is what I've been sharing with you lately. This is true only after really major growth and this is why for this pair/project we have to look also at the weekly chart.
This low/higher low dynamic will lead to a new bullish wave. No consolidation is needed because of what I already explained on the AGLDUSDT trade-idea and TRUUSDT, you can find these in my profile. But of course, I shall explain.
The price at which SYNUSDT is trading now matches the range at which the pair traded back in late 2023. Any action within this range can be considered accumulation. The range is 0.2600 - 0.5500.
SYNUSDT entered this range again in June 2024. We can count the two and a half month since June as consolidation as well as the five months in late 2023/early 2024.
Since the correction removed all gains, once prices are back within the accumulation range it becomes the same as if the pair never moved up.
Ok. I think I've gone too far, let me show you the weekly chart which is better.
Makes sense now right?
Notice the "low prices."
Low prices for us means good to buy and hold.
The market will take care of the rest.
Once the market is 300% up, 500% up or even 700% up, we won't care about the two satoshis nor two cents.
Do not be distracted!
Stay focused.
Keep your mind on the goal.
You are to use this information wisely; buy and hold.
Too many opinions, too much reading from too many sources can get you confused and that's exactly what the whales want.
This is not medical advice;
This is not legal advice;
This is not financial advice...
Thanks a lot for your continued support.
Namaste.
