Months of Accumulation : Is the Distribution Phase Near?

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Market Context :
Several older altcoins, often referred to as "dinosaur alts," have been consolidating for months while Bitcoin and newer altcoins have reached new highs. This prolonged accumulation phase could indicate the start of an expansion phase, potentially fueling a major rally.

Technical Outlook :
Pattern Formation :

A potential cup-and-handle is forming on the 2-day chart.

Resistance Levels :

Immediate resistance near the current level. A pullback and handle formation could solidify the bullish pattern.

Expansion Signal :

If the pattern completes successfully, a significant influx of capital into these older altcoins is likely.

Analysis :
Consolidation periods often precede explosive moves, and the setup hints at a bullish continuation. If a handle forms after a pullback, it could act as a springboard for further gains.

Conclusion :
The altcoin market, particularly older coins, may be on the brink of a significant rally. Patience during pullbacks could be rewarded, especially if the cup-and-handle pattern plays out fully.

Pro Tip :
Monitor the 2-day chart closely for a confirmed handle formation. Enter positions after a breakout above the handle's resistance for a safer entry.

Advice to Investors :
Diversify your altcoin exposure and manage risk appropriately. While the setup looks promising, always remain cautious of fake breakouts, particularly in older altcoins, which can experience sudden reversals.