ALTS full analysis short term
Aggiornato
this is an update and full analysis for alts .
firstly this is a hand made chart , total 2 except eth , and stables .you can make same on using tradingview .
you find eth analysis separated .
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as you can see in the picture we kissed the top of the accumulation range (line in green)
the 3 arrows represents all the possibilities . in the end of this analysis i will post my opinion .
green arrow represents a small correction of this big move since October , and then continue higher . orange one , represent a deviation above the accumulation range and get back inside , the black arrow represent a breakout of the range . remember , these movements are short term , once , one of them take place , we will update based on the move itself . and we give the possibilities of that particular move .
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1- green arrow : its a simple correction to continue higher , well known wycoff accumulation range . the correction coincides with 0.25 fib level .10% drop from here .a reversal is probable after the correction , to continue higher , until we break the accumulation range that we are in for 560days now !.
2-orange arrow ,represents a deviation above the range and then come back inside , its very common move to trick buyers and liquidate them , finally get back into the range to stay in for longer .this probable deviation gives 22% up from here .
3-black arrow , is simply a breakout of the range , could give a retest just after the breakout , or could soar and get far away from the upper band of the range to give that retest .
in case of the black arrow , the targets are for short term dec 2023 - feb 2024 :
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alts depend on various things : bitcoin price, bitcoin dominance ...etc
so its hard to give long term scenario without analyzing the data and make update in weekly/monthly basis .
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my opinion is :
its optimistic , and coincides with may 2021 alts high . this move could reach only the first or second green box , for me the second is possible , the third possibility is lower, but this is my opinion . as mentioned earlier , it depends on btc dominance and price .even the second or first box are nice targets , they represents : 150% and 300% from bottom .
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remember , this is not a financial advice
thank you
firstly this is a hand made chart , total 2 except eth , and stables .you can make same on using tradingview .
you find eth analysis separated .
-------------------------------------------------------------------------------------------------------------
as you can see in the picture we kissed the top of the accumulation range (line in green)
the 3 arrows represents all the possibilities . in the end of this analysis i will post my opinion .
green arrow represents a small correction of this big move since October , and then continue higher . orange one , represent a deviation above the accumulation range and get back inside , the black arrow represent a breakout of the range . remember , these movements are short term , once , one of them take place , we will update based on the move itself . and we give the possibilities of that particular move .
-------------------------------------------------------------------------------------------------------------
1- green arrow : its a simple correction to continue higher , well known wycoff accumulation range . the correction coincides with 0.25 fib level .10% drop from here .a reversal is probable after the correction , to continue higher , until we break the accumulation range that we are in for 560days now !.
2-orange arrow ,represents a deviation above the range and then come back inside , its very common move to trick buyers and liquidate them , finally get back into the range to stay in for longer .this probable deviation gives 22% up from here .
3-black arrow , is simply a breakout of the range , could give a retest just after the breakout , or could soar and get far away from the upper band of the range to give that retest .
in case of the black arrow , the targets are for short term dec 2023 - feb 2024 :
-------------------------------------------------------------------------------------------------------------
alts depend on various things : bitcoin price, bitcoin dominance ...etc
so its hard to give long term scenario without analyzing the data and make update in weekly/monthly basis .
-------------------------------------------------------------------------------------------------------------
my opinion is :
its optimistic , and coincides with may 2021 alts high . this move could reach only the first or second green box , for me the second is possible , the third possibility is lower, but this is my opinion . as mentioned earlier , it depends on btc dominance and price .even the second or first box are nice targets , they represents : 150% and 300% from bottom .
-------------------------------------------------------------------------------------------------------------
remember , this is not a financial advice
thank you
Nota
actual situation : alts have been trading in the indicated range for 19days , 3 possibilities are present : deviation above/below the range and get back inside it , breakout to the upside .
this is very short term analysis .
Nota
alts are holding daily tenkan and kijun now !
if you like my ideas you can buy me a coffee via my paypal account : markvan135@gmail.com
or : buymeacoffee.com/youcefbenterkia
thank you
or : buymeacoffee.com/youcefbenterkia
thank you
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