Maybe there's a good chance.
OK, LaRSI on the monthly chart shows that the share of alts could rise significantly.
But there is a bullish correlation with bullish sentiment in the stock market.
However, the candle has gone below the 100 SMMA for the first time.
But at the same time a bullish momentum is forming at this point.
I suggest waiting for the end of the month.
*******************************************************************
But real strength can only be demonstrated
if the candles break out of this channel. Where they are now.
The 10.7%-11% level will be critical.
As usual, no need to call anyone on anything.
OK, LaRSI on the monthly chart shows that the share of alts could rise significantly.
But there is a bullish correlation with bullish sentiment in the stock market.
However, the candle has gone below the 100 SMMA for the first time.
But at the same time a bullish momentum is forming at this point.
I suggest waiting for the end of the month.
*******************************************************************
But real strength can only be demonstrated
if the candles break out of this channel. Where they are now.
The 10.7%-11% level will be critical.
As usual, no need to call anyone on anything.
Note
Look.
It's not easy to imagine, but try to think in terms of multiple
possibilities rather than just one possibility.
Previous years have taught us that many things are possible.
It's impossible to say why there is now a perception that
the new alt season must be weaker than past ones.
More precisely, there is one implicit argument that
during the crazy growth times, it was a journey from
very little money to minimally meaningful money that one would not be sorry to lose.
With a $2 investment, you could withdraw $2,000.
Now to withdraw $200,000 you have to invest 20,000 (opinion of someone in the market).
And this seems logical to many on the mere assumption that the market has a logic - farther is less.
However, whether this is a rule or an assumption no one knows for sure.
And I suggest to think about another possibility, that in 14 there
was a very large starting candle of formation of this index.
Buying the market off the bottom formed a ~1430% rise and simultaneously
gave us a channel that was in effect for 8 years through 2022.
After the candles fell out of that channel, a descending channel was formed.
And we also know that there are often situations of retesting the bottom of a broken channel.
What will happen if the index tries to test the bottom of the old channel from the current point?
That would be the same rise as 11 years ago. ~1325%, which would send the index up 105% (the boldest charts so far have claimed something around 40%, but usually less).
We have precedent for such spikes, right? We do.
Are the charts testing the bottom of the channel?
Now most importantly, realize that there are no guarantees
of this development. What I am saying is that there is a certain
model that we know from other charts, and it can be applied here as well.
The resulting result exceeds the boldest predictions, and the usual attitude
to such charts is skeptical. But there is another thing, the gloom that the
market makers have created in the market for 20224-2025 is a vital ingredient
in the soup they are about to make.
We can't even imagine how many people have let their coins out of their hands.
Which of course provokes market makers to slip these coins to
the same hands at times more expensive.
The “Tomorrow is More Expensive” principle when they turn
it on will shake up the crowd just as it did last years. Nothing changes in the world.
No gratitude is required.
Hate is not required either.
Arguments, if any, are welcome.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.