Altcoins Market Bull-Market: Bitcoin Sideways

5 hari yang lalu

The Altcoins market bull-market dynamics continue to unravel. This dynamic which we are seeing across hundreds of Altcoins is fully based on Bitcoin being strong and growing. It is supported by Bitcoin going sideways.

There is no correction. Instead we can see Bitcoin moving lower based on a retrace move. This move then resumes higher and we have some small swings which ends up being nothing more than sideways action.

This very strong sideways trading for Bitcoin near resistance; below 100K and above 80K, fully supports ultra-bullish growth for the Altcoins market.

All Altcoins trading pairs are in the process of growing 100% to 300%. The ones growing small are growing up to 300%. The pairs that are growing strong are growing between 300% and 500%. This is only the beginning. This pattern has been present now for months and was building up since August.

As Bitcoin peaks, hits new highs; we see more and more Altcoins taking their turn and growing. If Bitcoin were entering a major correction, these Altcoins would retrace immediately toward resistance rather than growing 50%-100% in a single day.

All those that are growing 50%-100% in a single candle, already built up this strength through several months of bullish consolidation. That is, growing daily, slowly but surely. The major part of the bullish action happened in the last five weeks, where the entire Altcoins market produced five consecutive weeks closing green. The bull-market price dynamics continue.

Each time there is a pause, there is no correction; rather, the energy moves from the set of pair that already grew 200% to 300% to those trading low. The ones that are high up instead of entering correction mode enter sideways mode. And we see them consolidating near resistance.

The whole dynamic is likely to continue to playout until the end of February 2025. Wild guess. Bull-market price dynamics are already in place. To be sustained, this requires a strong Bitcoin moving sideways.

Bitcoin sideways price range stand between 80,000 and 100,000. As long as Bitcoin trades in this range, the Altcoins market will continue to grow. As long as Bitcoin trades above 80,000, we are hyper-bullish and this small retrace is part of the consolidation before the 100K barrier is gone.

When 100K breaks we will see 113K followed by 122K and beyond. As Bitcoin grows, the Altcoins will continue to grow. We are in bull-market territory. The last chance to buy when prices are low... In 2025, everything grows.

Namaste.