đđThe Signal That Brings 400 Percent Pump for Altcoins is Active Again: Pay Attention to Bitcoin Details! đđ
Yann Allemann, an experienced name in the cryptocurrency market, shared positive signs about the altcoin bull.
Allemann, the founder of Glassnode, stated in his recent statement on the X platform that there are bullish signals for the altcoin market. Emphasizing that NASDAQ started to decline and investors gradually shifted their money to risky products, Allemann gave the example of November 2020.
Reminding that while the NASDAQ was falling during this period, the iShares Russell 2000 ETF (IWM) index was on the rise, Allemann stated that altcoins gained 400% in value in the following four months.
First of all, Bitcoin consolidation
Allemann pointed out that there may be a consolidation process in Bitcoin in this process. He noted that $58,300 and $60,000 are the initial resistance levels.
He stated that the medium-term targets will be at the level of 65,000 to 70,000 dollars:
"Key resistance levels: $58,300 and $60,000. Today Bitcoin price is rising and testing the immediate resistance at $58,523! With no correction since June 16, we have reached the highest risk levels. Medium-term targets: $65,000 and $70,000."
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