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>
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   <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>
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<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

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