The Signal That Brings 400 Percent Pump for Altcoins is Active Again: Pay Attention to Bitcoin Details!

Yann Allemann, an experienced name in the cryptocurrency market, pointed out the altcoin bull.

Glassnode founder Yann Allemann included a bullish signal for the altcoin market in his recent X post. Stating that NASDAQ started to experience a decline and money gradually moved to risky products, Allemann gave the example of November 2020.

He reminded that a similar situation occurred in November 2020, while there was a decline in NASDAQ, the iShares Russell 2000 ETF (IWM) index increased and altcoins gained 400% in value in the following 4 months.

First there is Bitcoin consolidation

Allemann reminded that in this process, a consolidation may be seen primarily in Bitcoin.

It was noted that $ 58,300 and $ 60 thousand were the first resistance levels. He emphasized that the medium-term focus will be around 65 thousand 70 thousand dollars:

Key resistance levels: $58,300 and $60 thousand. Today, BTC price is warming up and testing the immediate resistance at $58,523! Since June 16, we have reached the highest risk levels (dark red line), as seen in the chart, before the correction took place. Medium term focus: $65k and $70k.

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