As Bitcoin recently surged past the psychological resistance levels of $34,000 and $35,000, crypto enthusiasts and investors are on the edge of their seats, eagerly anticipating what’s been long awaited — the altcoin season.
Bitcoin’s remarkable rally has captivated the financial world, but as it takes a pause to consolidate its gains, the spotlight is shifting toward the fascinating and often lucrative universe of alternative cryptocurrencies, or altcoins
CRYPTO MONEY FLOW:
FIAT -> BTC -> LARGE CAPs -> MID CAPs -> LOW CAPs -> BTC -> FIAT
Bitcoin Consolidation and Altcoin Opportunities
The recent surge in Bitcoin’s price has left many market participants elated, but it also raised questions about how long this rally can sustain itself.
Bitcoin is now consolidating after reaching new highs. This consolidation has prompted market participants to turn their attention to altcoins.
For instance, if Bitcoin’s price drops to $33,000, it might trigger a wave of liquidations, causing a large wick on the chart. Traders often use these liquidation levels to anticipate price movements, especially when large institutions and whales are involved.
Altcoins review:
1. Ethereum’s recent performance indicates its potential as an altcoin leader. It’s crucial to identify entry points and support levels for Ethereum. For example, if Ethereum retraces to $1,745, it could present an attractive buying opportunity.
2. Altcoins has gaining momenum:
SOL
&
MATIC
3.
AVAX
Avalanche has also shown signs of a promising rally, breaking key resistance levels. An entry point around $10.70 is ideal, as it aligns with a critical support range and a clear stop-loss level.
This level may act as a strong foundation for an upcoming uptrend.
4.
LINK
Chainlink is discussed as a strong altcoin, which has broken out of a long-term resistance.
There is no specific entry level for a short-term trade, but for a medium-term perspective, anything around $8-$8.5 is a strong buy as it has been a strong support over the half year’s worth of consolidation.
5. INJ
Injective Protocol (INJ) has been one of the standout performers this year, delivering impressive gains. While it may seem like it’s been on a relentless uptrend, it’s important to consider its support levels for optimal entries.
An entry point around $7.90
6.
FET
Fetch AI is having a breakout from a long-term resistance and a horizontal neckline level.
A potential entry range between $0.30 and $0.28 if there’s a revisit to that level, indicating it could be a good long trade opportunity.
Bitcoin’s remarkable rally has captivated the financial world, but as it takes a pause to consolidate its gains, the spotlight is shifting toward the fascinating and often lucrative universe of alternative cryptocurrencies, or altcoins
CRYPTO MONEY FLOW:
FIAT -> BTC -> LARGE CAPs -> MID CAPs -> LOW CAPs -> BTC -> FIAT
Bitcoin Consolidation and Altcoin Opportunities
The recent surge in Bitcoin’s price has left many market participants elated, but it also raised questions about how long this rally can sustain itself.
Bitcoin is now consolidating after reaching new highs. This consolidation has prompted market participants to turn their attention to altcoins.
For instance, if Bitcoin’s price drops to $33,000, it might trigger a wave of liquidations, causing a large wick on the chart. Traders often use these liquidation levels to anticipate price movements, especially when large institutions and whales are involved.
Altcoins review:
1. Ethereum’s recent performance indicates its potential as an altcoin leader. It’s crucial to identify entry points and support levels for Ethereum. For example, if Ethereum retraces to $1,745, it could present an attractive buying opportunity.
2. Altcoins has gaining momenum:
SOL
&
MATIC
3.
AVAX
Avalanche has also shown signs of a promising rally, breaking key resistance levels. An entry point around $10.70 is ideal, as it aligns with a critical support range and a clear stop-loss level.
This level may act as a strong foundation for an upcoming uptrend.
4.
LINK
Chainlink is discussed as a strong altcoin, which has broken out of a long-term resistance.
There is no specific entry level for a short-term trade, but for a medium-term perspective, anything around $8-$8.5 is a strong buy as it has been a strong support over the half year’s worth of consolidation.
5. INJ
Injective Protocol (INJ) has been one of the standout performers this year, delivering impressive gains. While it may seem like it’s been on a relentless uptrend, it’s important to consider its support levels for optimal entries.
An entry point around $7.90
6.
FET
Fetch AI is having a breakout from a long-term resistance and a horizontal neckline level.
A potential entry range between $0.30 and $0.28 if there’s a revisit to that level, indicating it could be a good long trade opportunity.