Altcoin Season Is Ready To Resume

Close up of hands of man at working place woth laptop and monitor screen, holding phone and bitcoin

Image Source: Freepik
 

We talked about ALTcoin season already back on June 27th of 2023, when we actually spotted the start of ALTcoin season. Clink here.
ALT season have slow down recently, due to a bullish Bitcoin dominance, but now that Bitcoin dominance can be finishing an impulsive cycle, ALTcoin dominance may step in again.

Crypto total market cap can be still finishing an A-B-C flat correction within wave (4) ahead of BTC halving, which is scheduled for Friday April 19th. Ideal support is still around 2.0T area, so soon be aware of a bullish continuation for wave (5).

totalcap4h

Even if we take a look at VanEck Bitcoin ETF with ticker HODL, we can see it finishing an A-B-C flat correction in wave (4) with textbook support around 68-67 area.

hodl4h

We already talked about Bitcoin.dominance chart (BTC.D) and its 5th wave back on March 12. Click hereNow that 5th wave could be completed, it can be signal that Bitcoin dominance may slow down and ALTcoin dominance step in. Well, at the same time we have got an interesting drop on OTHERS.D chart, which we see it as a wave (C) of an (A)-(B)-(C) flat correction in wave B. So, seems like OTHERS.D chart can be now ready to continue higher into wave C indicating that ALTcoins can be now ready to outperform Bitcoin.

othersDd

Long story short: When Bitcoin completes its wave 4 correction and will be on the way back to highs for wave 5, this is when ALTcoins could fly high.

We talked about cryptocurrencies in our latest live webinar streamed on April 15, 2024. You can watch a recording below:

Video Length: 00:32:27


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For more analysis visit us at https:/www.wavetraders.com and make sure to follow us on Twitter https://twitter.com/GregaHorvatFX

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