ALTS UPDATE đš
As weâve been watching, altcoins are in a critical spot, caught between trendline resistance and horizontal support. The real question here? How does $BTC.D react in this zone. Hereâs what Iâm seeing:
1. Trendline Breakout: If $BTC.D breaks above the trendline, alts have a shot at holding steady. With $BTC potentially pushing towards $120K, the alts may avoid heavy bleed, but they wonât be making any huge moves just yet.
2. Post-FOMC Shift: Once the FOMC dust settles, thereâs potential for a small recovery in some of the stronger altcoins. However, donât expect a major rally. Itâs likely to be more of the sameâsideways actionâwith alts remaining stagnant or slightly recovering post-FOMC.
The Bigger Picture: The fate of the altcoin market largely hinges on $BTCâs performance and how $BTC.D behaves. A drop in $BTC.D, after the potential pump, could ignite an altcoin rally, but thatâs still speculative at best. For now, the broader market feels like chop chop until the end of the year.
Key Takeaway: If youâre playing the altcoin market, patience is key. Iâm not expecting big moves.
If youâre looking for precise, risk-adjusted setups, my lead copy trading account mirrors analysis like these in real-time. Click here to copy and đđ°. Cheers ! $ETH $SOL $BNB