Is the price action of some tokens like $RARE leading the way?

The crypto market has been in a downtrend since March 2024, when Bitcoin broke its ATH several times in a row, and there was some euphoria due to the ''up only mode'' and the large inflows from the ETF. After that, Bitcoin started trading below the 2021 ATH, and with fears of supply entering the market from sources like Mt. Gox, the German and U.S. Governments, as well as geopolitical conflicts, it led to the market correction we’ve been seeing these past months.

This downtrend is showing the same characteristics on most coins, with a clear descending trendline which links the lower highs. Basically we are seeing a correction after a bullish trend, similar to the one we saw back in April-July 2021 before bullish continuation. Some tokens like $RARE have already broken this downtrend, with some interesting pumps. Now... should we expect the same for the rest of the market?

Confirmations are still needed, but based on a thorough analysis using various methods and data sources, and as I've been saying for a few weeks, I believe there is a good chance of seeing a market recovery with a bullish rally for altcoins.

$ZCX

Bought some more here to lower the avg. entry price.

GM

Taking the day off today. I wish you a blessed Sunday!

GM

For this week of August 19th-23rd, we have:

-Web3 Summit 2024 (August 19-21)
-5th Joint International Conference on AI, Big Data, and Blockchain (August 19-21)
-Some Fed members speak (August 19-20)
-Eurozone CPI (August 20)
-FOMC minutes (August 21)
-Jobless claims (August 22)
-Fed Chair Powell speaks (August 23)


These events should give us more hints about the potential rate cut in September and whether it will be 25bps or 50bps.

From a technical analysis (TA) perspective, the market appears to be forming a local bottom. Some altcoins are breaking their downtrends, suggesting possible shifts in the overall market.

Personally, I'm accumulating altcoins during these weeks, trusting the plan, and ignoring the noise. The strategy is based on a high-timeframe outlook, so it's normal for it to take time to play out. It’s also worth keeping an eye on the Gaming/NFT ecosystems, as they are showing a lot of strength these days.

I hope you had a good weekend and let's have a great week!

$INJ

Another interesting bullish htf setup, similar to $FET.

GM

$BTC reclaiming 60k, more altcoins are starting to pump...

The best is yet to come.

Important principles to remind yourself daily:

- Do NOT trade in choppy price action.

- Avoid leverage.

- Accumulate altcoins that are breaking or about to break their downtrend.

- Ignore all the noise.

- Focus on the mid and long term.

- Enjoy life in the meantime.

The rest comes from patience and conviction.

"Patience is the mother of all virtues."

I think that was the test pump.

Meaning:

That was a pump to clean the liquidity from above. Next pump should be the real breakout.

There it goes.

There hasn't been much movement this weekend. Just a pullback, which was either to be ignored or to buy more. We should see bullish continuation soon.

I hope you had a good weekend, and let's have a great week!

$BTC update

After a clean breakout of the $62k level, we are seeing an expected pullback.

Right now it's testing the last swing high as support. Fundings are very negative, especially for altcoins.

Bullish continuation is just a matter of time.

#ALTCOINS - Htf view

Key level here.

$BTC - Zoomed in

Clean S/R flip.