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💎The critical factor in the recent price action of the Alt Index is the bounce off the average-price downtrend trendline. Besides, after a bounce, we can see a double bottom formation near 3275.
💎The above-mentioned facts strongly favor the beginning of a strong uptrend. But on the other hand, we can see that the consolidation phase between 2870 - 4000 is taking...
Looking at the total market one may find that it can also be measured with the same tools and dynamics of understanding like any chart.
From what i see, this since this is excludng the BTC and ETH, means money is pouring in and out, so id expect a reaction once it hits the conversion line, but the reaction of it is still unpredictable, since in stock-to-flow...
🦊¶REDFOX CAPITAL™¶🦊,
Good day everyone its your man Redfox
the last time i warned about a dump when i analyzed the USDT.D index which played out perfectly now the market have recovered and everyone is happy longing but theres something on #alts index you should know , the red box is obviously a dangerous zone, and needs to be broken first before the next...
The chart explains it all! Not at all good for the alts.
Descending triangle has almost squeezed and thus resulting a quick volatility!
In order to ignore this bearish sign ALTPERP has to close a couple candle above the green zone! atleast a 2 candles above the 4000 to 4100 zone.
Or we may break the 3k strong support so hard and reach the next support level range...
There’s strong bearish bias because we are still under the 200 day moving average and there’s already been a retest and rejection. However, we are sitting on a strong key level at the moment. If we break below it’s probably game over for Alts for now, but if we break the trendline both on RSI and on the chart, I’ll be confident for a reversal.
For the next few days, from some source that I've gathered these 35 hours. All altcoin could react into the next support due to crypto donated for Ukraine is gonna used to buy weapons and some militarization equipment. I can't say it's a good thing to open a long position for this short-term (7-12 days). and besides that, beware with FOMC in the next week. MARCH...
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Welcome to this ALTCOINS INDEX update. This index is used for tracking the price of a basket of altcoins. If it pumps then altcoins will follow and starts pumping and vice versa.
Now let's get to the chart.
Altperp index is trading inside a big falling channel in the daily...
The correction is over ⁉️
- Yello, ladies and gentlemen😎!
💎The Altcoin Index twice re-tested the top of the descending channel, which has acted as the support. This price action has drawn an ABC corrective pattern based on the Elliot Wave theory.
💎Right now, Alt Index is trading in the demand zone, and we already see a ...........
I make my trading plan based on my understanding, I am not a good adviser, but maybe it can be a reference for you to take. keep doing your own research
