BITCOIN Alt season started and going all the way to the Halving!

Bitcoin (BTCUSD) may have found Support on the 1W MA50 (blue trend-line) and rebounded but for basically the last 6 months it has been trading sideways/ consolidating. On the other hand, this hasn't stopped the altcoin market (orange trend-line depicting dominance) from breaking above its Bear Cycle's Lower Highs trend-line 6 weeks ago. Historically, when alts broke above that distinct Lower Highs trend-line in previous Cycles, BTC has always been above the 1W MA50 and (with the exception of the COVID crash) never lost it.

We have approximately 154 days/ 22 weeks until the next Halving (no 4) and on the same time range in the past 2 Cycles, the alt season had alreay started. Typically this extends to at least the Halving event. On Halving 2 it saw a huge price spike while during Halving 3 it had a steady rise that continued even after the event. We can therefore draw the conclusion that the alt season has just started and has at least another 5 months of growth ahead of it (until Halving 4). At the same time, BTC should stay supported by the 1W MA50.

So what do you think? Have we broken aggressively into a long alt season? If so, are you going light on Bitcoin and heavy on alts? Feel free to let us know in the comments section below!

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