CRYPTOCAP:TOTAL If the corona correction never happened
If the coronavirus correction never happened, we would have had a clearer sideways corrective path. Given the deep capitulation, I am expecting a stronger than moderate pump before the next correction. The correction will likely coincide with (after) the halving event in mid-May.
Looking at the volume, we can clearly see accumulating throughout the past 1-1.5 years.
I have said for months now that BTC.D has been topping out and down-trending.
Altcoins' weekly 50/100 period MA are crossing bullish for the first time in 2 years. A huge long-term indication of a shift in momentum. We are already seeing some alt-coins popping (check out DGBUSD). Like our last bull market, money will flow from one alt coin pump, to another. My hunch is this will happen in waves. We can see the rumblings of this beginning now.
From my perspective, here is the most probable scenario during the next month:
- BTC surges up to ~8.5k range
- Altcoins continue to pop and go up more than BTC, leading to BTC.D making a new down-leg
- BTC corrects significantly, back to the 5.5-6.5k range. Altcoins will suffer much more than BTC. During this time, I will be converting almost all my BTC to alt coins
- Regarding the halving, there's a mini version right now of "buy the rumor sell the news". I believe that people are accumulating and there will be a sell off soon after the halving event
I believe that altcoin season is coming soon, after the post-halving correction.
Looking at the volume, we can clearly see accumulating throughout the past 1-1.5 years.
I have said for months now that BTC.D has been topping out and down-trending.
Altcoins' weekly 50/100 period MA are crossing bullish for the first time in 2 years. A huge long-term indication of a shift in momentum. We are already seeing some alt-coins popping (check out DGBUSD). Like our last bull market, money will flow from one alt coin pump, to another. My hunch is this will happen in waves. We can see the rumblings of this beginning now.
From my perspective, here is the most probable scenario during the next month:
- BTC surges up to ~8.5k range
- Altcoins continue to pop and go up more than BTC, leading to BTC.D making a new down-leg
- BTC corrects significantly, back to the 5.5-6.5k range. Altcoins will suffer much more than BTC. During this time, I will be converting almost all my BTC to alt coins
- Regarding the halving, there's a mini version right now of "buy the rumor sell the news". I believe that people are accumulating and there will be a sell off soon after the halving event
I believe that altcoin season is coming soon, after the post-halving correction.
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