Time for Altcoins to Shine There are several indicators turned on in this 2M TOTAL3 chart. TOTAL3 represents all altcoins minus Ethereum (and sans BTC). Parabolic SAR Parabolic SAR has been tagged for the first time since May 22. This tool on high timeframes confirms trend changes after the fact, but tends to trigger around the strongest phase of a trend kicking off. Bollinger Bands Price is above the upper Bollinger Band generating a buy signal, just as the Bollinger Bands begin to expand. This is the first buy signal since Jan 2021. Log LMACD LMACD is crossing bullish for the first time in its history - data only started in 2023, however. Relative Strength Index RSI is above 70 and just entered the bull zone. Volume We have the highest volume bar since May 2021, with breakout style volume. This is the 2M timeframe, and it looks like we have anywhere from one to three 2M candlesticks left. This means, two to six months of altcoin season. Then it's all over. I think because of how fast these coins are going to move, it will be closer to two months than six months.
Published Dec 12, 2024Updated Dec 12, 20243 min read
Time for Altcoins to Shine There are several indicators turned on in this 2M TOTAL3 chart. TOTAL3 represents all altcoins minus Ethereum (and sans BTC). Parabolic SAR Parabolic SAR has been tagged for the first time since May 22. This tool on high timeframes confirms trend changes after the fact, but tends to trigger around the strongest phase of a trend kicking off. Bollinger Bands Price is above the upper Bollinger Band generating a buy signal, just as the Bollinger Bands begin to expand. This is the first buy signal since Jan 2021. Log LMACD LMACD is crossing bullish for the first time in its history - data only started in 2023, however. Relative Strength Index RSI is above 70 and just entered the bull zone. Volume We have the highest volume bar since May 2021, with breakout style volume. This is the 2M timeframe, and it looks like we have anywhere from one to three 2M candlesticks left. This means, two to six months of altcoin season. Then it's all over. I think because of how fast these coins are going to move, it will be closer to two months than six months.
