GM
The first support zone didn't hold. It's important that we see a bounce soon, so this is still a higher low.
Nothing to worry about yet. Same plan.
The first support zone didn't hold. It's important that we see a bounce soon, so this is still a higher low.
Nothing to worry about yet. Same plan.
$60k reclaimed. Good first step. Now we have to see a reclaim of $62k for bullish continuation.
#ALTCOINS htf overview
Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend.
We can see how the altcoins market cap index is forming lower highs and lower lows (chart 1). It is now testing a major support zone (blue zone). If this support holds, we should see a bounce soon. However, it’s important to have bullish confirmations for a trend reversal. The first one would be a clean break of the trendline that connects the lower highs. The second confirmation would be a reclaim of the dark zone, around 240-250B.
In chart 2, we can see how there was a similar correction in May-July 2021. After that, the market went on to new highs. That correction was shorter in time but more aggressive in price, shaking out most investors/traders. We’re currently seeing something similar. This correction has been hard for many, exhausting their hopes.
Lastly, the altcoin dominance (OTHERS.D, chart 3) is showing similar patterns to when the real altseason started in late December 2020.
Personally, I’m still adding exposure to altcoins that look promising. Only spot, no leverage yet until we see bullish confirmations. That’s the plan for now. If the main support levels don’t hold and the market doesn’t show strength in the coming days, I’ll start reducing exposure.
Let’s see what awaits us.
Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend.
We can see how the altcoins market cap index is forming lower highs and lower lows (chart 1). It is now testing a major support zone (blue zone). If this support holds, we should see a bounce soon. However, it’s important to have bullish confirmations for a trend reversal. The first one would be a clean break of the trendline that connects the lower highs. The second confirmation would be a reclaim of the dark zone, around 240-250B.
In chart 2, we can see how there was a similar correction in May-July 2021. After that, the market went on to new highs. That correction was shorter in time but more aggressive in price, shaking out most investors/traders. We’re currently seeing something similar. This correction has been hard for many, exhausting their hopes.
Lastly, the altcoin dominance (OTHERS.D, chart 3) is showing similar patterns to when the real altseason started in late December 2020.
Personally, I’m still adding exposure to altcoins that look promising. Only spot, no leverage yet until we see bullish confirmations. That’s the plan for now. If the main support levels don’t hold and the market doesn’t show strength in the coming days, I’ll start reducing exposure.
Let’s see what awaits us.
CryptoCapo TG
#ALTCOINS htf overview Altcoins have been on a downtrend since March 2024. The key question is whether this is a correction before a bullish continuation, or the beginning of a new bearish trend. We can see how the altcoins market cap index is forming lower…
In addition to this post.
Altcoins are starting to show strength against BTC.
Altcoins are starting to show strength against BTC.
It’s not easy holding through a correction, but I believe those who can stay patient and disciplined will be in a strong position when the market turns.
Good night!
Good night!
Altcoins keep showing strength against BTC. There's also strong demand here for some majors like ETH and SOL.
Let's see if that remains the dominant trend for the coming days and we start seeing some bullish confirmations.
Enjoy the weekend!
Let's see if that remains the dominant trend for the coming days and we start seeing some bullish confirmations.
Enjoy the weekend!
Maximizing your Gains during Altseason: A Simple Guide to Avoid FOMO
When a bullish wave occurs in the market, especially in altcoins, it often happens in phases. Sometimes, certain coins within an ecosystem start pumping aggressively, while others remain sideways or even retrace. It's common for people to begin moving funds from one coin to another, as shown in the image. This typically happens due to one main emotion: Fear Of Missing Out (FOMO). When you see many coins going up but not yours, you start moving your funds into those that are pumping. It's a familiar scenario when, right after you make the switch, the coin that was pumping starts to correct, and the one you've been holding for weeks (and just sold) starts to go up. Sounds familiar?
To avoid this, having a solid action plan and strategy is crucial. If you manage to time the market well and get exposure when a bullish wave or altseason starts, the best approach is to build a solid portfolio that suits your capital, risk tolerance, and understanding of the market. This way, you can construct a well-diversified and solid portfolio that includes majors, mid-caps, and microcaps from different ecosystems. You could also set aside a portion of your portfolio for trading, but the foundation should be a strong hold portfolio that you maintain for most of the altseason. The focus should be on timing when to take profits later on.
There are many coins, many narratives, and many moves, but you can’t catch them all. It's far more important to make strong, concentrated bets than to overdiversify or overtrade.
Periods of low volatility like these are a gift, as they give you time to thoroughly analyze everything and position yourself, apart from the discounts in prices. Once volatility kicks in, your reaction time becomes much shorter.
The market rewards those who take the time to learn and plan. Use these moments of calm to strengthen your strategy, and when the move comes, you’ll know exactly what to do. After such a long period of correction, those who have remained patient and avoided the noise will likely be the ones who are rewarded.
When a bullish wave occurs in the market, especially in altcoins, it often happens in phases. Sometimes, certain coins within an ecosystem start pumping aggressively, while others remain sideways or even retrace. It's common for people to begin moving funds from one coin to another, as shown in the image. This typically happens due to one main emotion: Fear Of Missing Out (FOMO). When you see many coins going up but not yours, you start moving your funds into those that are pumping. It's a familiar scenario when, right after you make the switch, the coin that was pumping starts to correct, and the one you've been holding for weeks (and just sold) starts to go up. Sounds familiar?
To avoid this, having a solid action plan and strategy is crucial. If you manage to time the market well and get exposure when a bullish wave or altseason starts, the best approach is to build a solid portfolio that suits your capital, risk tolerance, and understanding of the market. This way, you can construct a well-diversified and solid portfolio that includes majors, mid-caps, and microcaps from different ecosystems. You could also set aside a portion of your portfolio for trading, but the foundation should be a strong hold portfolio that you maintain for most of the altseason. The focus should be on timing when to take profits later on.
There are many coins, many narratives, and many moves, but you can’t catch them all. It's far more important to make strong, concentrated bets than to overdiversify or overtrade.
Periods of low volatility like these are a gift, as they give you time to thoroughly analyze everything and position yourself, apart from the discounts in prices. Once volatility kicks in, your reaction time becomes much shorter.
The market rewards those who take the time to learn and plan. Use these moments of calm to strengthen your strategy, and when the move comes, you’ll know exactly what to do. After such a long period of correction, those who have remained patient and avoided the noise will likely be the ones who are rewarded.
GM
U.S. CPI data will be released today at 8:30 AM ET (in 3 hours). This data is key for the Fed’s next move. The current expectation is for a small rate cut of 25bps at next week’s meeting (September 18). However, if the data is very positive, a 50bps rate cut isn't entirely off the table.
In my view, if the data is favorable, the market will likely start pricing in more rate cuts for Q4 2024 and early 2025.
Let’s see how it plays out.
U.S. CPI data will be released today at 8:30 AM ET (in 3 hours). This data is key for the Fed’s next move. The current expectation is for a small rate cut of 25bps at next week’s meeting (September 18). However, if the data is very positive, a 50bps rate cut isn't entirely off the table.
In my view, if the data is favorable, the market will likely start pricing in more rate cuts for Q4 2024 and early 2025.
Let’s see how it plays out.