bullish

2024

<p>The post <a href="https://coinpedia.org/news/altcoin-season-to-begin-soon-analyst-hints-at-a-bullish-breakout-pattern/">Altcoin Season to Begin Soon: What Investors Need to Know</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Recently, altcoin prices have dropped by 30% to 70%, making many investors rethink their holdings. However, the outlook for altcoins might not be as grim as it seems. According to well-known crypto analyst Moustache, altcoins are currently following a promising Wyckoff accumulation pattern, which could signal a potential rise. </p> 
<p>Many investors are keenly watching for what comes next.</p> 
<h2 class="wp-block-heading" id="h-wyckoff-pattern-suggests-a-rally-ahead">Wyckoff Pattern Suggests a Rally Ahead</h2> 
<p>Moustache points out that altcoins have been following the Wyckoff accumulation pattern for several years. This pattern is known for predicting market movements and usually indicates a market bottom followed by a strong rally. He believes that the current consolidation phase might soon lead to a significant upward movement for altcoins.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <br><br>First Altcoins have formed a perfect wyckoff accumulation pattern for years and now they are consolidating before the next leg up imo.<br><br>Big descending broadening wedge in the making. <br><br>Don't look too much at the lower timeframe, the bigger picture looks still great. <a href="https://t.co/F5v6PWvIVU">pic.twitter.com/F5v6PWvIVU</a></p>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1831604073868501268?ref_src=twsrc%5Etfw">September 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Moustache also highlights a large descending broadening wedge forming. This pattern often signals a period of accumulation before a bullish breakout. He advises investors to focus on the long-term trends rather than short-term price changes.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-amp-altcoins-understanding-the-relation">Bitcoin &amp; Altcoins: Understanding the Relation</h2> 
<p>Bitcoin’s dominance is a key factor that influences the <a href="https://coinpedia.org/news/bitcoin-dominance-on-the-rise-for-600-days-could-an-altcoin-season-be-near/" target="_blank" rel="noreferrer noopener">rise of altcoins</a>. For altcoins to have their moment, Bitcoin’s dominance needs to drop.</p> 
<p>Looking at the weekly chart, Bitcoin’s dominance (BTC.D) fell from 62.69% in March 2021 to 40.89% by May. This period coincided with many altcoins reaching their all-time highs during the last bull market.</p> 
<p><strong>What’s Needed for Altcoin Success?</strong></p> 
<p>To replicate 2021’s performance, at least 75% of the top 50 altcoins need to outperform Bitcoin. Currently, <a href="https://www.blockchaincenter.net/en/altcoin-season-index/" target="_blank" rel="noreferrer noopener nofollow">data from Blockchaincenter shows</a> that only 22 cryptocurrencies, including XRP, TRX, XMR, HNT, and AAVE, have managed to achieve this.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/crypto-whales-are-stacking-these-coins-during-the-dip/" target="_blank" rel="noreferrer noopener">Crypto Whales Are Stacking These Coins During the Dip!&nbsp;</a></p> 
<p><strong>The future of altcoins is now. Are you ready?</strong></p>

Altcoin Season to Begin Soon: What Investors Need to Know

Table of Contents

CoinPedia News

Other articles published on Sep 5, 2024

Bitcoin Rally or Final Capitulation? – Best Altcoins to Buy During September Market Correction

Breaking: This Altcoin Surges After Major Index Announcement!

Haru Invest CEO Stabbed During Court Hearing in South Korea

XRP Lawsuit Update Today: Ripple Delays $125M Payment Amid SEC Appeal Speculation

‘Rich Dad Poor Dad' Author Praises Elon Musk, Here's Big Reason

BlockDAG’s Team Video Reveals Foundation Plans as Presale Sets Sights on $600M: Analyse Fantom Pr...

Join our free newsletter for daily crypto updates!