Gains

<ul class="news-points">
 <li><strong>Mags has predicted impending rallies for altcoins and Bitcoin soon.</strong></li>
 <li><strong>There is residual upside momentum for the altcoin market in the current bull cycle.</strong></li>
 <li><strong>Mags spotted a new Hash Ribbon indicator on the Bitcoin chart.</strong></li>
</ul>
<p>Crypto analyst Mags, who goes by the handle @thescalpingpro on X (formerly Twitter), has predicted upcoming rallies for altcoins and Bitcoin. Contrary to the views of perennial bears, Mags believes the recent altcoin pullback signals a period of reaccumulation in preparation for another upward movement.</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" target="_blank" rel="noopener noreferrer nofollow">#Altcoins</a> <br><br>Perma bears will tell you altcoins are done and are in a distribution phase. But if you look at the chart, altcoins are only up 58% since they broke out after 525 days of accumulation.<br><br>Do you really think a breakout after 525 days of consolidation will end after… <a href="https://t.co/20WY9HGLix" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/20WY9HGLix</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1816505262196305939?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Mags explained his position using the altcoin market cap chart, which shows that this category of cryptocurrencies is only up 58% since breaking out after 525 days of accumulation. He argues that it would be unusual for such a lengthy accumulation period to end with only a 58% rally, and therefore believes the…</p>
<p>The post <a href="https://coinedition.com/crypto-analyst-sees-bitcoin-and-altcoins-poised-for-significant-gains/" rel="noopener noreferrer nofollow">Crypto Analyst Sees Bitcoin and Altcoins Poised for Significant Gains</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Crypto Analyst Sees Bitcoin and Altcoins Poised for Significant Gains

Coin Edition

Autres articles publiés le 26 juil. 2024

21Shares exec discusses ETH ETF launch and market dynamics

Former Huobi Employees Implant Trojans in Wallets, Face 3Y Imprisonment

$60M Raised! BlockDAG Shines With UFC Champion Alex Pereira Partnership Amidst Notcoin & JasmyCoi...

Crypto’s New Epicenter: Asia’s Rising Influence

Crypto Analyst Predicts XRP Price Rally to $20 Based on Historical Pattern

US Senate Banking Committee Member Senator Talks About Bitcoin

Join our free newsletter for daily crypto updates!