The #altcoinseason index is currently at 61.
Whenever the index approaches 80 or higher, it usually signals that altcoins are in supply zones, not demand zones.
If the index drops to around 25, it signals the opposite, buying opportunities.
This is one reason I’m not heavily buying altcoins right now.
The best buying periods were roughly two months ago.
Currently, we’re in consolidation and shakeout zones.
Weekly Open Liquidation Zones
The weekly liquidation zones, whether short or long, in the price range 103 to 114 don’t exceed $2B in either direction.
This creates potential for price volatility during this period, which may influence most analysts’ outlooks.
Some traders might exit positions, while others may hesitate to buy during dips.
If you’re already in the market, it’s best to hold your positions purchased at lower levels, provided you don’t hold too many coins and they are strong with support.
Example: Strong Coins
Looking at strong coins, $AVAX is near the same bottom as 2021 vs BTC.
The best scenario for AVAX:
Break through the first and second targets,
With decreasing dominance and
BTC continuing to oscillate between 120–107.
Many coins, like AVAX, show similar charts.
If you’re new to crypto, it’s best to learn first and wait for your opportunity.
If you’re experienced, you can take advantage of these periods for trading, in addition to holding your core investments in important coins.
Always DYOR and size accordingly. NFA!
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