The Altcoin Season (ASI) index has increased to 61, moving closer to the 75+ mark that indicates a full-blown altseason. While early signs of altcoin strength are evident, it’s essential not to make emotional decisions. To properly time this transition, we will examine three critical charts:
1. BTC Dominance (BTC.D) – Tracks Bitcoin’s market share.
2. ETH/BTC – Ethereum’s performance as the altcoin market leader. 3. TOTAL2 – The total market cap of altcoins, excluding Bitcoin. When analyzing these charts, it’s important to watch for specific signals. For BTC Dominance, a breakdown below all three levels would validate a rotation into altcoins.
On the ETH/BTC chart, a breakout above 0.0415 would signal strength, while further rejection could delay an altseason rally. The TOTAL2 chart recently broke out of a three-year Cup & Handle pattern, signaling long-term bullish potential. The combination of these charts suggests that the setup for an altseason looks promising.
However, it’s crucial to remember that “confirmation is key.” Acting on one chart alone is reckless; when all three align, the probabilities for a successful altcoin rotation increase dramatically. In conclusion, while the signs point to a potential altseason and Santa Rally, patience and discipline are essential.
Remember to stay informed and let the charts guide your next moves.
Source
<p>The post Altcoin Season Approaching? Market Buzz Builds on BTC Correction and ASI Surge first appeared on CoinBuzzFeed.</p>
