Based

Elite

Sleep

Chainlink

<p>Leading cryptocurrency analyst Moustache, who has over 80,000 followers on Twitter, stated he<em> ‘can’t be anything but bullish on altcoins’ </em>based on his technical analysis. He drew comparisons to the setup seen in early 2020 right before the massive altcoin rally throughout 2021.</p>
<p>In his Twitter post, Moustache <a href="https://x.com/el_crypto_prof/status/1743205515402887370?s=20" target="_blank" rel="noopener noreferrer nofollow">said</a> <em>“The last time we had a setup like this was in 2020. We have a perfect backtest, OBV in bullish territory, and a bullish TSI cross. What we have seen in the last few days was a perfect backtest, just like in 2020.”</em></p>
<p>This analysis warrants further explanation. The On Balance Volume (OBV) is an indicator that measures overall volume flow into and out of an asset over time. A rising OBV line amidst prices moving sideways or lower suggests accumulated buying pressure. The True Strength Index (TSI) is a momentum oscillator similar to MACD. A crossover of the TSI lines from below to above the zero line is considered a bullish signal.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-1024x525.png" alt="" class="wp-image-414145" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-1024x525.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-300x154.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-767x393.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-1536x787.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-2048x1050.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-293x150.png 293w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-683x350.png 683w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-125-788x403.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>In early 2020, altcoins completed a technical “backtest” of support levels, just as we’ve seen in recent volatility, before parabolic gains in 2021. Moustache is implying the setup on key indicators now mirrors that fateful period. With OBV in bullish territory and an incoming TSI crossover, the stage may be set for altcoins to run once more.</p>
<p>Bitcoin ETF approvals could provide the necessary boost. As the SEC deliberates crypto ETF applications like VanEck’s, this may further normalize digital assets and attract new capital. Ethereum, which will see its own ETF product in 2024, could be a prime beneficiary.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Don’t Sleep on this Explosive Crypto Airdrop!&nbsp; <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>Install the <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Getgrass" href="https://captainaltcoin.com/go/getgrass/" data-shortcode="true"><strong>GetGrass extension</strong></a> ASAP – the more points you score, the bigger your free crypto payoff! This red-hot airdrop could set you up for the future, but only if you <strong><a href="https://captainaltcoin.com/go/getgrass/" target="_blank" rel="noopener noreferrer nofollow">take action</a></strong> right now!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>If history repeats, long-term altcoin holders may be sitting on the precipice of significant price appreciation over the next 12-24 months. Based on the technical confluence described by 80k follower analyst Moustache, 2024 is shaping up to resemble another banner year for alternative cryptocurrencies. Bulls remain hopeful this setup will culminate in an eagerly anticipated altcoin revival.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/link-comes-back-fighting-chainlink-technical-analysis-post-market-crisis/" target="_blank" rel="noopener noreferrer nofollow">LINK Comes Back Fighting: Chainlink Technical Analysis Post Market Crisis</a></li>
 <li><a href="https://captainaltcoin.com/stratis-strax-surges-over-60-in-two-days-following-this-key-announcement-why-the-move-may-not-last/" target="_blank" rel="noopener noreferrer nofollow">Stratis’ Strax Surges Over 60% in Two Days Following This Key Announcement: Why The Move May Not Last</a></li>
 <li><a href="https://captainaltcoin.com/bitcoin-might-be-down-but-btcmtx-continues-rising-after-crossing-7-4-million-in-funding-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Might Be Down, But $BTCMTX Continues Rising After Crossing $7.4 Million In Funding – Here’s Why</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/elite-crypto-analyst-notes-identical-signals-that-preceded-2021-altseason-cant-be-anything-but-bullish-on-altcoins/" rel="noopener noreferrer nofollow">Elite Crypto Analyst Notes Identical Signals that Preceded 2021 Altseason: “Can’t Be Anything but Bullish” on Altcoins</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Elite Crypto Analyst Notes Identical Signals that Preceded 2021 Altseason: “Can’t Be Anything but Bullish” on Altcoins

Table of Contents

CaptainAltcoin

Other articles published on Jan 5, 2024

Bitcoin ETF vs. Trust: Which suits traditional investors more?

Will Bitcoin Spot ETFs Get Approval Today? What Developments Are Expected? Crypto Journalist Expl...

Visa Partners With SmartMedia Technologies To Offer New Web3 Loyalty Rewards

Exploring Cerra.io: defi platform offering passive income on Cardano

VanEck Pledges 5% of Bitcoin ETF Profits to Support Bitcoin Core Developers!

23 Features of Etherscan: Unveiling Ethereum’s Power Tools

Join our free newsletter for daily crypto updates!