When will the altcoin season come in 2024 ? prepare for this cycle's huge altcoin bullish market
When will the altcoin season come in 2024 ? Let's prepare for this cycle's huge altcoin bullish market đ #BTC.D
Righ now, I will share my personal experience to know when the altcoin season will come in 2024. Based on the 2016 and 2019 cycle, I know the important signs based on the BITCOIN DOMINATION CHART. Every time the BITCOIN DOMINANCE CHART make peak, this index will decrease, then the proportion of the entire altcoin market will increase.
ETH is currently in a clear uptrend channel, formed from the beginning of 2023. This indicates that the main trend of ETH is bullish in the long term.
Support Zone:
Currently, the price of ETH is trading around $2,450.
Trading Strategy:
Entry Point: Consider opening a long position on ETH at the current price of $2,450. Stop-Loss: Set a stop-loss order at $2,100 to limit risk if the price breaks below the ascending channel. Take-Profit: To achieve a profit 4 times the stop-loss amount, we need to determine an appropriate take-profit target.
Specific example with a capital of $10,000:
Buy price: $2,450 Amount of ETH: 10,000 / 2,450 = 4.08 ETH Stop-loss: $2,100 Maximum loss when stopped out: (2,450 - 2,100) x 4.08 = $1,428 Take-profit target to achieve 4X compared to the stop-loss level: 2,450 + (1,428 x 4) / 4.08 = $3,850
Therefore, with a capital of $10,000, if buying ETH at $2,450 and setting a stop-loss at $2,100, the investor will lose a maximum of $1,428 if stopped out. To achieve a profit 4 times the stop-loss level (i.e., $5,712), the ETH price needs to reach the target of $3,850. Analysis: The target of $3,850 is entirely feasible when observing the ETH price chart. The price has surpassed this price level in 2024 and is currently on a recovery trend. The Risk/Reward ratio (R/R) in this case is 1,428 / 5,712 = 1/4. This is a very attractive R/R ratio, indicating that the potential profit is much higher than the risk.
Crypto Index Market Analysis: Positive Signals for an Uptrend
Overview: The Crypto Index chart displays a clear long-term uptrend, supported by the green ascending channel. Currently, the index is trading around 6,666.01 USD, near the upper boundary of the channel. Technical Analysis: Ascending Channel: The ascending channel demonstrates the stability of the uptrend, with higher highs and higher lows. This indicates continued investor interest and confidence in the crypto market.Current Price Zone: The index approaching the upper boundary of the channel may signal a strong resistance area. However, if the index breaks through this zone, it could experience significant further growth.Price Patterns: Candlestick patterns within the ascending channel show steady accumulation and upward momentum, with short-term corrections being well absorbed. Outlook: Short-term: In the short term, there's a possibility of selling pressure at the upper boundary of the ascending channel. However, if the index maintains above the channel's support line, the uptrend could continue.Long-term: The long-term uptrend of the crypto market remains intact. If the index surpasses the current resistance zone, the next target could be the 8,000 USD area or higher. Recommendations: Long-term investors: Can continue to hold existing positions and consider buying more if the index retraces to the support line of the ascending channel. Important Note: The crypto market is highly volatile. Investors should always have a clear risk management plan and not invest beyond their financial capabilities.
Ethereum Technical Analysis: Bullish Momentum Builds, But Resistance Looms
Overview: Ethereum's price action presents a compelling picture of bullish momentum building within a well-defined upward channel. The recent breakout above the 4,100 USD resistance level is a significant development, suggesting a potential continuation of the uptrend. However, traders should remain vigilant as the price approaches the next key resistance zone. Key Observations: Upward Channel: The price has been respecting an upward channel for a considerable period, indicating a strong underlying bullish trend.Breakout: The recent surge above 4,100 USD confirms a breakout from the previous resistance, reinforcing the bullish sentiment.Resistance Zone: The area around 4,400 USD is likely to act as the next significant resistance level. A successful break above this zone could trigger further upward movement.Support Level: The 2,134 USD level has acted as a strong support, and any pullback towards this level could present a buying opportunity. Outlook: The overall technical picture for Ethereum is bullish. The recent breakout and the presence of a well-defined upward channel suggest that the uptrend is likely to continue. However, traders should exercise caution as the price approaches the 4,400 USD resistance zone. A failure to break above this level could lead to a pullback towards the 2,134 USD support. Potential Scenarios:
Bullish Scenario: A successful break above 4,400 USD could open the door for a move towards the next resistance level at 5,200 USD.Bearish Scenario: A failure to break above 4,400 USD could lead to a pullback towards the 2,134 USD support level. A break below this support would invalidate the bullish outlook. Recommendations: Traders: Consider buying on pullbacks towards the 2,134 USD support level with a stop-loss below this level. Target the 4,400 USD resistance zone and potentially higher levels if a breakout occurs.Investors: Continue to hold existing long positions. Consider adding to positions on pullbacks towards the 2,134 USD support level.
Highly recommend HOLD $BTC at Binance 1ïžâŁ Bitcoin Is Digital Gold Bitcoin is often called "digital gold" because of its scarcity and long-term value. Like gold, Bitcoin has a limited supply with a total quantity of only 21 million coins. 2ïžâŁ Convenience in Transactions Bitcoin transactions are extremely simple and fast, not bound by banks or countries. You can make transactions from anywhere in the world at low costs.
Getting started investing in Bitcoin can be challenging, but with the right preparations, you can get started effectively. Here are step-by-step instructions: Learn About Bitcoin Research about Bitcoin and how it works. Understand blockchain technology and factors affecting Bitcoin price.Select Trading PlatformChoose a reputable trading platform that suits your needs. Make sure the exchange has good security measures in place.
FET - Daily Shortterm Trend & Support/Resistence Trade Signal ------------------------- FET now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $1.47 đą Target: $ 8.8 ------ Current: $1.58
QIUSDT now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $ 0.0136 đą Target: $ 0.4 ------ Current: $ 0.0208
BullRun will likely be completed in Q4 2024 - Q1 2025.
History of previous seasons, after breaking the previous record peak, the time continued to extend: ------------------------- 2013 : 8 months 2017 : 8 months 2020 : 5 months 2024 : 5-8 months ------------------------- In 5-8 months from now, the new record peak could be in Q4 24 - Q1 25. The next 5-8 months will be the period taking profit đ
DOT - Daily Shortterm Trend & Support/Resistence Trade Signal - 23 May
DOT - Daily Shortterm Trend & Support/Resistence Trade Signal - 23 May DOT now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $ 5.5 đą Target: $ 50 ------ Current: $ 7.5
WLDUSDT - Daily Shortterm Trend & Support/Resistence Trade Signal 22 May ------------------------- WLD now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $4 đą Target: $11.5 ------ Current: $5
AEVOUSDT - Daily Shortterm Trend & Support/Resistence Trade Signal 22 May
Daily Shortterm Trend & Support/Resistence Trade Signal 22 May AEVO now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $0.7 đą Target: $4 ------ Current: $0.8
LINK - Daily Shortterm Trend & Support/Resistence Trade Signal 22 May
LINK now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $9.8 đą Target: $200 ------ Current: $16
ARB - Daily Shortterm Trend & Support/Resistence Trade Signal - 21 May
ARB - Daily Shortterm Trend & Support/Resistence Trade Signal - 21 May ARB now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $0.92 đą Target: $2.4 ------ Current: $ 1.2
ETC - Daily Shortterm Trend & Support/Resistence Trade Signal 21 May
ETCUSDT now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $22 đą Target: $200 ------ Current: $31.5
WIF - Daily Shortterm Trend & Support/Resistence Trade Signal 20 May
WIF now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $2.2 đą Target: $6 ------ Current: $2.6
OP - Daily Shortterm Trend & Support/Resistence Trade Signal - 20 May
OP now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $ 1.7 đą Target: $ 7 ------ Current: $ 2.4
TIA - Daily Shortterm Trend & Support/Resistence Trade Signal 19 May
TIA now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $7 đą Target: $20 ------ Current: $9.4
ADA - Daily Shortterm Trend & Support/Resistence Trade Signal - 19 May 2024
ADA now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $0.2 - $0.3 đą Target: $3 ------ Current: $0.48
SUI - Daily Shortterm Trend & Support/Resistence Trade Signal
SUI now completed a correction and are ready to return to gain higher. The new opportunity at the current price đą Trend: Bullish đ đą Support: $0.87 đą Target: $2.6 ------ Current: $1.07