#AltcoinBreakout
An altcoin breakout occurs when the price of an alternative cryptocurrency breaks above a key resistance level with strong momentum and volume. This signals a potential start of a new upward trend. Breakouts often follow periods of consolidation or low volatility, forming patterns like triangles, flags, or channels. Traders watch for confirmation through increased volume and candle closings above the breakout zone. Entry is usually made just above resistance, with stop-losses placed below support. Target profits are set based on previous highs or measured moves. Breakout trading in altcoins can offer high rewards but requires quick action and solid risk management.
