ALTSEASON IS HERE! TOTAL 1D The total crypto market cap is approaching resistance at $4T. The situation is mixed: historically, September often closed in the red, while the following months until year-end were green. So there’s a chance of a correction back to $3.8T on negative news, followed by a move back to $4T. Another scenario is a clean breakout of $4T, consolidation above, and then a run to new all-time highs. Concerns: - A head and shoulders pattern is forming, which can only be invalidated by a breakout above $4T with weekly confirmation. - The Altseason Index is nearing 80. Historically, after hitting this level, rallies lasted anywhere from 17 to 100 days. Positive factors: - Altcoin accumulation is entering its final stage. The next move is a sharp rally, possibly triggered by ETF approvals for alts. - Fed rate cuts would temporarily support markets. Historically, Q4 in equities has almost always been strong, though it’s often followed by corrections. - Indicators...
ALTSEASON IS COMING!
$ETH chart
Long term, I’m very bullish on $ETH - I’m stacking spot with no plans to sell anytime soon.
But looking locally / mid-term:
Liquidity below 4000 hasn’t been taken yet, and price is squeezing into the 4200 zone. That’s a bit concerning.
However, in the 4200 - 4500 range I was watching funding - most of the time it was at parity, and sometimes even negative. This means #ETH was being shorted harder than $BTC in this area.
My view: mid-term, $ETH is going to break its ATH. I remain bullish on the market overall.
BUT - whether $ETH first sweeps liquidity below 4000 is hard to say, it’s a roulette. I’ve seen many influencers expecting a wick under 4000, so maybe traders are setting long limits there. But that’s just a guess - we might not get that entry and instead move higher from current levels. I can’t know for sure.
But if we do go under 4000, I’ll be adding more $ETH longs in the 3860–3970 area.
$SOL #BTC
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