TO be honest Alts Season started way back in October 2023 ,when Crypto Market bottomed out and everything surged From It's bottom .
but a true alts season always kicks off when BTC dominance tops out . in all previous Bull Runs $BTC Dominance played the major role in triggering the alts season .
this time it will also and is impacting alts Performance .
as you all can see BTC almost Topped out at 69K while $ETH and other alts are too much struggling to gain momentum .
For now We can only see BTC.D reaching it's Main Resistance , which can top out soon in next few months .
the Path shown in the Trading view Pic ,can only trigger the Alts Season 🤍✨
hopefully we all get some good Gainers soon on the list .
ETH is already got a breakout from its March Initiated Downdtrend .This can be visible from RSI Weekly plus Daily structure breakout from Down channel .
This is a huge Signs for it's Up move as soon as of End Of October and start of November .
It can be seen in the images below that When last Time Ethereum Saw a weekly breakout in RSI ,it exploded from 1500$ to 4080$ in few weeks 💥🔥
Now again the same thing happening and it might explode anytime here ,Key Levels to enter in a swing Position are (2580-2460).
Watch out for these levels and build a well defined risk aligned position .
this chart will make things simple for you even on altcoins
Let's try to clarify!
if we go beyond the yellow box, we will have a very big climb along the entire altcoins line, otherwise we will be choppy up to the 0.0365/0.036 zone where we will have another possible good bounce along the entire altcoins line compared to btc
BTC .D Broke it's LTF trend towards Downside and we saw a good Move by Alts in the meantime ,
But now as we seeing a bit upside move by BTC.d now alts are going down for a retest which might be a healthy correction and a good opportunity to reload your Bags In alts again .
For This we want to see a rejection from that Grey Box ☑️ Of BTC .D and we'll follow the Downtrend from Btc Dominance ✨
Will November rate cut Impact Positively on Investors Mind set 📈👊
The Federal Reserve's interest rate cuts in November are expected to have a positive impact on the economy. According to J.P. Morgan Research, the Fed is likely to cut rates by another 50 basis points (bp) at its next meeting in early November ¹. This move is seen as a continuation of the Fed's dovish stance, signaling the beginning of a new monetary easing cycle.
*Positive Effects:*
- _Boost to Economic Growth_: Lower interest rates can stimulate economic growth by making borrowing cheaper an
It's approaching my given Level 2750-2800$ here at weekend .
We can only go forward if we get a Daily plus a weekly closing above 2760 .
it this happens then next week we can expect Ethereum to go between 3300-3400$ very soon as a result of this breakout 📈✍️.
but from LTF Prospective and if We Don't get daily or weekly closing above 2760 ,we can follow second path as given in the second image below , which shows a rejection from this current resistance (2740-2790) and we may visit some 2500ish lows again next week .
Well ,now all depends on today's Daily /Weekly Closing coming Up next 🤝🤞
It's approaching my given Level 2750-2800$ here at weekend .
We can only go forward if we get a Daily plus a weekly closing above 2760 .
it this happens then next week we can expect Ethereum to go between 3300-3400$ very soon as a result of this breakout 📈✍️.
but from LTF Prospective and if We Don't get daily or weekly closing above 2760 ,we can follow second path as given in the second image below , which shows a rejection from this current resistance (2740-2790) and we may visit some 2500ish lows again next week .
Well ,now all depends on today's Daily /Weekly Closing coming Up next 🤝🤞