Altcoins’ Parabolic Phase Is Nearing – Crypto Piece
Leave The Emotions Aside
In markets, as in life, there are times to bet big, to bet small, and to not bet at all. It all depends on the risk-reward, and often being contrarian in nature to the general market consensus. While we were expecting a pullback around the $50k region, which never came, we were quick to change our bias because holding onto one that’s unconfirmed by price action + intermarket is an expensive one. However, our members still made money through Ethereum and altcoin upside because we our analysis still showed upside on that front, including our Cycles Forecasts.
Today, a lot of people are expecting a meaningful pullback following a deviation of Bitcoin from its all-time highs. However, Bitcoin (as shown in the previous article found here) and now even the altcoins are showing that this is THE moment to bet big because the next big move is going to be parabolic in nature. Remember, this is the “next big move” so we’re mostly looking at higher time frame in this article.
The chart below is of the Crypto Market Cap excluding Bitcoin and Ethereum, so the most risk-on one can get in the altcoin market. A perfect rounded bottom just like the previous cycle has been emerging.
Recently, the 9-monthly SMA crossed above the 21-monthly SMA. The last time this happened, it signaled the start of a big run up. While this may still take a few months of sideways chop, this is the time to load up for the big move that’s coming later this year!
The monthly chart is showing signs of going parabolic with MACD crossing bullish and RSI still having a lot of room to rise. This is looking like altcoins are about to have a VERY PROMISING 2024! We urge our members to do their analysis for this opportunity and to utilize this as BIG Money-Making opportunity → Our primary goal!
USD Weakness Incoming
One of the most intermarket dynamic to look at for risk-on behavior is the USD index ($DXY). This index just entered an unfavorable period of seasonality, providing further confluence of more risk-on behavior.
In the next section for our Paid Members, we are going to cover Solana and Dogecoin from a technical perspective, but also provide our proprietary Cycles Forecast for the upcoming weeks, along with an essential fractal for one of the names. Our only aim is to help our members print Money through their investments!
We just released our Q2 2024 Cycles Forecast for multiple different asset classes and equity names. The introductory article for the quarterly Cycles Forecast can be found here. Please note that our Founding Members have now been emailed these Cycles Forecasts (the full deck covering every name!). If you would like your copy earlier for the next quarter, please consider upgrading to a Founding Member status on our Substack.