Technical Analysis

ALTcoins May Resume Higher SoonApr 9, 2024

ALTcoins May Resume Higher Soon, as we see it finishing a corrective bullish triangle pattern by Elliott wave theory.

Cryptocurrencies slowed down after strong rally into wave 3 of an ongoing five-wave bullish impulse, so current sideways consolidation should be just a correction in wave 4.
BTC dominance is actually still here and Bitcoin can be already progressing wave 5, but that’s why ALTcoins are currently slower than BTC.
However, looking at the TOTAL2 Crypto market cap, which excludes Bitcoin, it looks like nice and clean bullish triangle pattern in wave 4 that can be coming to an end with final subwave (E).
So, soon be aware of a bullish resumption within higher degree wave 5 of III, which can push BTC and ALTcoin friends even higher.

ALTcoins May Resume Higher Soon TOTAL2 4H Chart
TOTAL2 4H Chart

We talked about cryptocurrencies in our latest live webinar streamed on April 08 2024. You can watch a recording below:

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