#ALT MARKET CAP is on the run! 15% Rally ahead!
Welcome to this quick update everyone,
Altcoin Marketcap is bouncing after printing a higher low.
The index reversed on 18th June 2022 with a low of $430.955 Billion Marketcap.
Currently its trading inside a rising channel and to cpmleyte it needs to print another higher high which gives us our short term target of $573 Billion, almost 15% from current level.
THERY TO KEEP IN MIND:-
Since this is a rising channel which is generally bearish in nature and often considered as a bearish continuation pattern unless broken to the upside.
This is a very interesting scenario here. BTC has been surprising us since the last few months and ALT MARKCAP breaking to the upside after printing a bearish pattern could be another surprise while the whole crowd is completely bearish.
This is just a theory. The chart along with multiple indicators are showing possibility of a 15% rally in this index which will eventually push the altcoins 20% to even 50%.
So take your trade decisions accordingly.
INVALIDATION:- A CANDLE CLOSE BELOW THE RECENT Higher low of $461 billion will invalidate this chart.
DYOR before taking any trade decisions based on this chart.
Do hit the like button and share your views in the comment section.
Follow me for more quality updates.
I don't post much , I only do when it's needed.
Thank you
#PEACE
Altcoin Marketcap is bouncing after printing a higher low.
The index reversed on 18th June 2022 with a low of $430.955 Billion Marketcap.
Currently its trading inside a rising channel and to cpmleyte it needs to print another higher high which gives us our short term target of $573 Billion, almost 15% from current level.
THERY TO KEEP IN MIND:-
Since this is a rising channel which is generally bearish in nature and often considered as a bearish continuation pattern unless broken to the upside.
This is a very interesting scenario here. BTC has been surprising us since the last few months and ALT MARKCAP breaking to the upside after printing a bearish pattern could be another surprise while the whole crowd is completely bearish.
This is just a theory. The chart along with multiple indicators are showing possibility of a 15% rally in this index which will eventually push the altcoins 20% to even 50%.
So take your trade decisions accordingly.
INVALIDATION:- A CANDLE CLOSE BELOW THE RECENT Higher low of $461 billion will invalidate this chart.
DYOR before taking any trade decisions based on this chart.
Do hit the like button and share your views in the comment section.
Follow me for more quality updates.
I don't post much , I only do when it's needed.
Thank you
#PEACE
Trade active:
USDC Dominance is retesting after the breakdown. Short-term traders are taking profits.
Rejection will lead to the continuation of the uptrend across the market.
USDC Dominance is retesting after the breakdown. Short-term traders are taking profits.
Rejection will lead to the continuation of the uptrend across the market.
Comment:
A bit of resistance around $20k. BTC could retest $19.2k the lower support trendline.
Trade active:
The index didn't close $464 billion and bounced right off the support. Still on track
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