ALTCOIN-MARKETCAP, Breakout Above Major Reference-Zone Incoming!

Hello,

Welcome to this analysis about the ALTCOIN-MARKETCAP on the 4-hour timeframe perspectives. As already mentioned in the previous analysis that can be found when looking at my profile the biggest Cryptocurrency by market-cap Bitcoin has formed some important alignments in terms of the Wyckoff Accumulation and also Hash-Ribbons dynamic that a bullish development in the upcoming times has a high possibility. Now this does not necessarily mean the whole other cryptocurrency market excluding Bitcoin is bullish as the divergence between the cryptocurrencies is increasing especially compared to Bitcoin it is important to differentiate these aspects to do not just consider the market in the same direction, with the same volatility and amplitude.

Structural Developments:
As when looking at my chart now we can watch there how the ALTCOIN-MARKETCAP has developed this local ascending-channel-formation in the structure that is marked in blue in my chart, within this ascending-channel the Marketcap has formed a coherent wave-count with the waves A to D almost already completed and now with the wave E about to form already showing up with some exceptional increased volatility in the schedule. As it is seen in my chart this wave E is testing the main descending-trend-line marked in black in recent times, this trendline is an important reference point of resistance here as it connects the previous lower highs. With the horizontal resistance in dashed grey, the market cap will validate this as support when breaking out above.

Upcoming Determinations:
Next times will be a decisive time here as when the demand in the ascending-channel increases further with the continued development of the wave-E it will lead to a determined breakout above this major descending-trend-line, such a breakout will be the appropriate origin of the wave-E-extension and appointing of the upper-target-zone. For now, we need to keep patient and await the breakout which will finally confirm as it is marked in my chart with the Marketcap final price-action above the descending-trend-line. Such development will activate the upper-target-zone consisting of several levels, the remaining upper-resistance, the point-of-control resistance, and also the target projection, when the Marketcap reaches out there a pullback is highly likely.

In this manner, thank you for watching my analysis about ALTCOIN-MARKETCAP and what is the likely breakout-determination that has a high possibility to follow up in next times, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, all the best!
"The past, like the future, is indefinite and exists only as a spectrum of possibilities."

Information provided is only educational and should not be used to take action in the markets.