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Crypto Analyst: Altcoin Charts Flash Rare 2021-Style Breakout Setup
Crypto analyst Kevin (Kev Capital TA) anticipates an upcoming "altseason," mirroring the 2021 market dynamics. He bases his prediction on the Total3/BTC chart, which excludes Ethereum and stablecoins. Key technical indicators across weekly and monthly timeframes suggest a Wyckoff-style bottoming pattern is forming. He highlights a "spring" phase followed by a range reclaim, mirroring the setup before the 2021 surge. Kevin believes this setup is contingent on favorable macro conditions, such as easing inflation and a stable labor market. He identifies Q4 as the critical window for potential market movement, given upcoming economic data. He points to specific indicator convergences on the weekly and monthly charts, similar to the 2021 liftoff. The analyst notes bullish divergences and momentum shifts on various indicators, especially on monthly charts. He emphasizes a double-bottom pattern in the monthly L-MACD, mirroring the 2020 setup. Kevin stresses the unprecedented alignment of technical signals across both weekly and monthly charts. He sees the altcoin rotation as a continuation of the bullish Ethereum setup. Although optimistic, he acknowledges the importance of macro data and seasonality. Despite this, he observes a maturing base, a reclaimed range, and aligned momentum structures. He concludes that the current market structure suggests a high likelihood of an upcoming altcoin rally, but with macro dependent confirmation.
