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What's happening to the market right now!? Is this altseason?
Well, I said it plenty of times before in the past.
Once Bitcoin consolidates at new highs, we'll always get an altseason.
Right now Bitcoin has been moving back and forth between $90k-100k.
If Bitcoin would have already topped here? Altseason has already effectively begun!
(doesn't mean that it is over. It means it's here already in the early stages)
However altseason isn't something that can happen only once. It also has ups and downs.
The altcoin market can rally pretty strongly for an entire month untill Bitcoin goes for another strong leg-up to $120k for example.
(this will cause Bitcoin dominance to pull up again for a brief moment)
If it tops at $120k and consolidates below there (let's say between $100-120k) we will see another altseason again.
Just like Bitcoin goes up and down in multiple waves in a bull run so do alts (altseason ups and downs).
It's to early to tell if today is the altseason to end the current cycle (usually the strongest wave).
We can't really tell if Bitcoin has already topped yet (like it has not yet).
We can only have a good indication of that, after it breaks down previous key levels (it has not btw > only bullish structure so far).
Also plenty of room for alts to go up higher from here (chart below).
But make no mistake. Up forever is something it won't do.
But today we can enjoy 👌
$RUNE
$RAY
$JUP
$XRP
Well, I said it plenty of times before in the past.
Once Bitcoin consolidates at new highs, we'll always get an altseason.
Right now Bitcoin has been moving back and forth between $90k-100k.
If Bitcoin would have already topped here? Altseason has already effectively begun!
(doesn't mean that it is over. It means it's here already in the early stages)
However altseason isn't something that can happen only once. It also has ups and downs.
The altcoin market can rally pretty strongly for an entire month untill Bitcoin goes for another strong leg-up to $120k for example.
(this will cause Bitcoin dominance to pull up again for a brief moment)
If it tops at $120k and consolidates below there (let's say between $100-120k) we will see another altseason again.
Just like Bitcoin goes up and down in multiple waves in a bull run so do alts (altseason ups and downs).
It's to early to tell if today is the altseason to end the current cycle (usually the strongest wave).
We can't really tell if Bitcoin has already topped yet (like it has not yet).
We can only have a good indication of that, after it breaks down previous key levels (it has not btw > only bullish structure so far).
Also plenty of room for alts to go up higher from here (chart below).
But make no mistake. Up forever is something it won't do.
But today we can enjoy 👌
$RUNE
$RAY
$JUP
$XRP
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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