Market Analysis: Is The Altcoin Cycle Starting now ?

Here's why I think an altcoin cycle might be starting just now.
Here is my analysis.
I'm first looking at BTC/USD, which is forming a pretty clear bearish wedge. Indeed, price keeps making lower highs for 2 months now. There is also a chance that the price does not breaks through the bottom, and would stay in range forming a consolidation period. In both scenarios, the altcoin market has good conditions to stay bullish. Not to mention that the price of each altcoin is close to the all time low.

XRPBTC
After two failed swings, this could be the good one. We already got this very bullish candle.

ETHBTC
Look at that chart. Beautiful. It is been so long before such a rally happened! We have been waiting for it !

TRXBTC
One of the most volatile altcoin. Here we put our take profit at 15%, which is usually where the rallies end.

ADABTC
Here we go to the moon! There was a failed attempt a few days ago, but this time looks like the good one !

Long term targets

INDICATORS USED

Thanks for reading !

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Commento:

Btc trend remains bearish
Some take profits on alts can be wise !