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Altcoins Market Cap Could Surge But the Road Isn’t Straight-Forward

Published 01/08/2024, 11:40 PM
Updated 01/08/2024, 11:45 PM
Altcoins Market Cap Could Surge But the Road Isn’t Straight-Forward
BTC/USD
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  • Analyst highlights a specific pattern that the altcoin market has been traversing.
  • Whale activity or BTC ETF rejection could mar the analyst’s prediction of an uptrend.
  • Altcoin market cap is at the latter stages of forming the Wyckoff pattern, an uptrend could be oncoming.

Crypto Analyst Moustache tweeted that the altcoins market cap was following a pattern of breaking out from the descending triangle and retesting the all-time high of the previous year. Once, the previous high was reached, the altcoins had an uptrend. Currently, as shown in the chart below, it is the pre-surge season and the analyst stated that those who listened to him would be rewarded.

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