The Alt season is in full swing!
Just a month ago, no one believed in this, but now it has all become reality.
In the previous post Has the Alt Season Started Yet? (see related idea) we already found out that everything is ready for the start of the Alt Season.
Since then, even heavyweights like$TRX They shoot at +100% per day!
But as they say, good times are needed to prepare for the worst.
Obviously, such a holiday on the market will not last forever. Sooner or later, profit taking will occur and the subsequent correction of growth will occur 📉
Remember that greed always leads to losses in the end, so be sure to lock in profits as you grow.
🏆#BTCdominance successfully broke through the long-term moving average MA200d and rested against the lower boundary of the medium-term ascending channel.
If we manage to break through and consolidate below the channel, then the growth of alts will continue with double force.
Otherwise, the market will experience a correction within the growing trend.
We think the first wave of market correction will be at the end of the first half of January 2025. Until that time, the growth of alts, by all logic, should continue.
🔎 There are a lot of bullish signals on the alt dominance chart:
break of the local downward trend, break of long-term moving averages, golden cross pattern, growth of volumes and formation of a massive Double Bottom pattern.
The nearest serious resistance is 0.8% above the current dominance. Once this zone is reached, we will expect a correction within the trend.
But in the medium term, alts will continue to grow for a long time, approximately until September 2025.
📈 The Altseason Index reached 86 and began to indicate the beginning of the Altseason.
But as has been said many times before, this indicator is lagging, which means now we need to start slowly dumping speculative positions.
Historically, after reaching marks above 86 on the indicator, alts have about a month and a half to realize growth 💸
Locally, we have about a month of alts growth left before a correction in the market.
Therefore, any speculations must be closed during this time, especially positions with leverage.
But don't forget that in the medium term, alts will continue to grow until September 2025, so the future correction will need to be very actively bought out with the released cash.
🚨 Something happened tonight that most of you didn't even notice.
Yesterday, more than $1 billion in liquidations were recorded - an absolute record for 3 years!
It is noteworthy that the same number of liquidations also occurred on December 5, 2021.
Liquidations occurred mainly in long positions, which means that after the breakout of #BTC$100,000, the crowd ran to open longs with leverage higher than x10.
It's not surprising, we've said many times that after Bitcoin reaches $100,000, everyone will start buying up the crypto, and all the media will trumpet about this event 💬
And now we have entered a time when large liquidations have become a normal phenomenon in the market. For a whole month now we have been closing the day with very large liquidations. This indicates a very important thing - there is a lot of new money in the market.
And the influx of this new money will continue into 2025 💸
🚀 Despite such liquidations and a sharp collapse in price$BTC Bitcoin, alts have not shown any weakness at all and even today continue to grow.
Meanwhile, Bitcoin dominance is very actively trying to break down the medium-term ascending channel.
So there will be a continuation of the alt-season!
🤟 Did you like the review or want to better understand cryptocurrencies and technical analysis?
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