If you're holding altcoins in your spot portfolio, there's no need to panic despite the current market conditions, with altcoins down by an average of 40–48% from their recent peaks.
This decline does not signal that altcoins are heading to zero. The ongoing sell-off, characterized by minimal rebounds, bears a strong resemblance to the Wyckoff accumulation phase often seen in market cycles. A significant recovery bounce is likely on the horizon.
Once this phase concludes, the market could present excellent opportunities for the next upward movement.
Key Takeaways:
Avoid overleveraging your trades, as this can lead to unnecessary losses.
Exercise patience—it is a critical factor for navigating this stage effectively.
Stay focused, stay informed, and make calculated decisions as the market progresses.
Our previous call for an Altseason surge came on October 18—exactly two months ago. That prediction perfectly aligned with the start of the latest rally in the total crypto market cap (excluding the top 10 coins). The chart shows the uncanny similarities between the current cycle (2022–2025) and the 2014–2017 cycle, particularly during the transition from the bear market to the bull run.
Both cycles share nearly identical accumulation phases, marked by a pivot trendline initially acting as resistance and later transforming into support. This shift led to the first bull flag formation, where prices pulled back to the 0.382 Fibonacci retracement level. At the same time, the 2-week MA50 (blue trendline) was tested as solid support—a key signal that prompted our timely buy call two months ago. Furthermore, the RSI and MACD indicators mirror the same patterns: RSI bottomed on an identical structure, and the MACD transitioned from bearish to bullish with a significant cross, all while the market consolidated within the bull flag structure.
At this stage, we have officially entered the parabolic rally phase (green upward channel), where upward momentum dominates without significant pullbacks. The market's next target appears to be the -1.5 Fibonacci extension level, historically a critical point. As a precaution, observe two key indicators signaling a potential market top, as seen in January 2018: an RSI triple top formation and the MACD's third bearish cross. These markers can help you lock in profits before the rally exhausts.
If you find this analysis valuable, show your support by liking, following, sharing, and dropping your thoughts in the comments! Stay prepared and make the most of Altseason 2024—the opportunities are here.
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$BTC looking for much deeper correction but if you are a spot trader then you have nothing much to worry about. it's just post halving fluctuation. Sooner or later BTC will surely reach 100k. Keep buying your favourite coins with every dip, buy in parts, invest as much as you can and once it's done close the app and chill. Come back in mid-august-september . 👀
There have been a lot of talk about selling pressure in 1st week of july and subsequently a price drop was expected. Now things are expected to get lil better on 8th july with the news of ETF approval . but the market is expected to remain volatile in this month as well. the actual bullrun is likely to start in august-september . Right now keep accumulating your favourite coins with each dip, invest as much as you can, complete your shopping and then have some patience . 👀
last prediction for btc went 100% accurate . btc dropped to 58k then stayed in 60-61k region for some time and jumped upwards to 63.8k. now it's again down . this time i'm expecting it to bounce back from 55-56k region. 👀
DYOR
LIVE
Milly Fram A7Xf
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58k done. now i'm expecting btc to stay in 60-61k region (61k more likely ) for some time and then it will jump upwards . 👀
58k done. now i'm expecting btc to stay in 60-61k region (61k more likely ) for some time and then it will jump upwards . 👀
DYOR
LIVE
Milly Fram A7Xf
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$BTC looking for the deeper correction as we were expecting after breakdown of 64,600 support level. in my opinion, the lowest level to which it can drop is 58k. but right now, i'm expecting btc to get support from 60-61k region and bounce back . let's see what's coming next 👀
$BTC looking for the deeper correction as we were expecting after breakdown of 64,600 support level. in my opinion, the lowest level to which it can drop is 58k. but right now, i'm expecting btc to get support from 60-61k region and bounce back . let's see what's coming next 👀
DYOR
LIVE
Milly Fram A7Xf
--
keep an eye on 64,600 support level 👀 if it breaks down we might see a deeper correction to 60k. if it holds btc will move upwards (to 67k).
keep buying with every dip . complete your shopping and have patience . (buy in spot and hold for few months) the real bullrun will start in august - september 2024. it will peak by august - september 2025.
DYOR 👀
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