Altcoins are demonstrating weakness today on the 4-hour timeframe.
Considering that, in general, altcoins have often been stronger than #BTC recently, this can be interpreted as an indirect signal that buyers for Bitcoin will also be weak in the near future.
If yesterday 8 assets from the TOP-200 went into a stable downtrend on the 4-hour timeframe according to our indicator, today there are another 15.
As always, we will show a third - 5 from today's list:
- #DOGE (it is important for buyers to hold the area of $0.21, otherwise the path opens not only to basic targets but also to targets on the daily timeframe, plus in August a Head and Shoulders pattern formed on the chart with a target around $0.18),
- #AVAX,
- #TON,
- #APT (there is also a Head and Shoulders pattern here, with a target around $3.95),
- #ATOM.
In general, as seen from the charts, since August, a number of altcoins have been in a range where some assets formed a Head and Shoulders pattern and are ready for a decline. The targets of stable trends on the 4-hour timeframe have either been partially reached or not reached at all lately. The consequences of the range and falling volatility.
The current picture with downtrends and the Head and Shoulders pattern should be taken into account. Therefore, we show charts with targets for declines based on stable downtrends, as well as important horizontal levels.
Locally we expect a decline, but we still anticipate a continuation of the growth of altcoins and an acceleration of this growth in the future. The current picture is local.
