As many of you will know, i have been keeping a very keen eye on the altcoin market and the compression phase that it has been in for the past 18 months.

Well, the fortnightly squeeze has just fired on the TOTAL2 (broad altcoin market gauge), this is a very strong tailwind for the crypto space and is a significant edge moving forward.

This move will be confirmed with a break of the monthly squeeze, at which point i will become exceptionally bullish on the space, as this would be the 2nd monthly squeeze to fire in the altcoin market, the first being just prior to the 2016 bull market.

Overall i am very confident in the longer-term direction of the market, however i am also expecting a near-term retest of the prior resistance that has just been broken.

- TradingEdge


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