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.
BINANCE:XRPBTC After two failed swings, this could be the good one. We already got this very bullish candle.
BINANCE:ETHBTC Look at that chart. Beautiful. It is been so long before such a rally happened! We have been waiting for it !
BINANCE:TRXBTC One of the most volatile altcoin. Here we put our take profit at 15%, which is usually where the rallies end.
BINANCE:ADABTC Here we go to the moon! There was a failed attempt a few days ago, but this time looks like the good one !
The altcoin market is playing out a reversal from 200 Week MA & sequential 9 very nicely indeed:
I've also started using the altcoin dominance index if you're interested. Also looks super bullish:
Happy trading!