GM: How A Morning Star Pattern Could Awaken Altcoins

2023-6-27 02:38

Like a strong cup of highly-caffeinated coffee or the sound of a rooster crowing at the crack of dawn, some things have the potential to be a real eye-opener.

When it comes to altcoins, crypto investors could get a wake up alarm they won’t be able to ignore. Keep reading to learn all about the morning star pattern that recently appeared on the weekly chart of several blue chip cryptocurrencies.

Why Crypto Could Be In For A Good “Morning”

Earlier in June, the United States SEC launched an onslaught of enforcement action against Binance and Coinbase. Many top altcoins were named as securities in the case. This list explicitly mentioned MATIC, SOL, and a handful of others.

The result was a deep selloff, severely worsened as US-based institutions began unloading altcoin holdings en masse without care of market impact.

However, following the news that BlackRock and several other institutions were filing for Bitcoin ETFs, the market staged a strong recovery.

The rebound was especially powerful in altcoins, which have been extremely oversold in the midst of the ongoing regulatory uncertainty. The sharp turnaround was also enough to form a morning star pattern in many top cryptocurrencies

.

The Morning Star Pattern: A Wake Up Call For Altcoins

A morning star pattern has formed on blue chip altcoins like Ethereum, Litecoin, Chainlink, and Fetch.ai. This type of Japanese candlestick pattern is a potential bullish reversal pattern with powerful implications.

The pattern solidified with Sunday night’s weekly close, but to fully confirm must be followed by further upside. This upside is expected to materialized within 3-5 candlesticks, or in this case, weeks.

With many of these more fundamentally-sound and regulator-friendly coins recovering most of what they lost in June, follow through could spark a more significant bullish trend across the brutalized altcoin space.

This chart originally appeared in Issue #9 of CoinChartist (VIP). Get 10% off a year subscription with this link: https://coinchartist.substack.com/NEWSBTC

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

REAL (REAL) на Currencies.ru

$ 0 (+0.20%)
Объем 24H $283.656k
Изменеия 24h: 2.25 %, 7d: -28.72 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.046384 (-100%)

altcoins could when able eye-opener real potential

Источник: newsbtc.com

altcoins could → Результатов: 126


Bitcoin’s Dominance is Signaling That “Altseason” May Be in Grave Jeopardy

Bitcoin’s dominance has been seeing a sharp decline over the past few days and weeks as altcoins have captured the majority of investors’ attention Yesterday, however, this metric hit a historically important region, and shortly after the benchmark cryptocurrency’s price began rebounding Some analysts are now noting that it may be “pullback time” for altcoins, with this potential decline being perpetuated if Bitcoin can smash above $10,000 Ethereum could also play a big role in […]

2020-7-27 22:00


Ethereum Fails to Surmount Crucial Resistance as Traders Eye a Pullback

Ethereum has incurred immense momentum throughout the past few days This notable upswing seen as of late has allowed it to outperform Bitcoin and many other major altcoins Some analysts have even observed that ETH’s price action is starting to influence that of Bitcoin Analysts are now noting that it could see a notable pullback in the near-term, which may be necessary if bulls want to extend their momentum further This possibility will be invalidated if […]

2020-7-26 22:00


Here’s Why Analysts are Flipping Short on Ethereum After Its Explosive Surge

After a prolonged period of range-bound trading, Ethereum posted a breakout rally yesterday that allowed it to surge up to fresh multi-month highs This rally put a firm end to the crypto’s macro trading range between $230 and $250 It remains unclear as to what caused this movement, but it allowed Bitcoin and other major altcoins to push higher as well Analysts are now growing cautious of what could come next for ETH Despite its […]

2020-7-24 23:00


These 4 Factors Signal Bitcoin is Gearing Up for a Breakout Rally

The crypto market is heading into the weekend without any clear momentum, as the past week has been relatively quiet for Bitcoin Many altcoins are still maintaining their firm upwards momentum, although this appears to be slowing down as investors grow more concerned about where Bitcoin may trend next There are four factors that one analyst is closely observing that could provide BTC with better guidance in the near-term This comes as the cryptocurrency continues […]

2020-7-19 19:00


Фото:

Bitcoin Closing Beneath One Crucial Level Could Decimate Altcoins

Bitcoin flashed some subtle signs of weakness yesterday that sent shockwaves throughout the cryptocurrency market This caused many major altcoins to shed a significant amount of their value, putting at least a temporary end to the intense market-wide uptrend seen by Bitcoin’s smaller counterparts The crypto is now once again sitting just above its crucial $9,200 support level Buyers have been able to defend this level throughout the past several hours One analyst is noting […]

2020-7-15 21:00


Фото:

These 3 Simple Factors Could Erase Bitcoin’s Current Signs of Strength

Bitcoin is beginning to flash some signs of strength as it starts breaking out of the recently established trading range between $9,00 and $9,300 The crypto could soon make a move to test the resistance that sits towards the top of its long-held trading range This resistance extends from $9,700 to $10,000 BTC’s tempered strength comes as altcoins begin rallying, with some even climbing as much as 100% yesterday Analysts are noting that there are […]

2020-7-9 02:00


Фото:

As XRP Rallies, Here’s the Level Top Traders Plan on “Shorting With Fury”

The aggregated cryptocurrency market is beginning to flash some signs of strength after an extended period of sideways trading Altcoins have been leading the market higher, as Bitcoin has remained stagnant within its long-held trading range This upwards momentum has even allowed XRP to rally, with this marking the first notable surge it has seen since April Analysts are noting that it could continue climbing higher in the near-term before hitting a crucial resistance level […]

2020-7-9 23:00


Bull Flag Forming On Bitcoin Dominance Could Deal Crushing Blow to Altcoins

Browsing through crypto Twitter or any Bitcoin or cryptocurrency-related subreddit, lately, there’s been talk of an altcoin season brewing right under the noses of crypto investors everywhere. However, a bull flag forming on BTC dominance could not only keep an alt season from occurring, but it could also deal altcoins a crushing blow and bring...

2020-6-9 20:30


Фото:

Crypto Market in Peril of Seeing Major Downside as Bitcoin Strength Wanes

The entire crypto market is currently consolidating as buyers and sellers reach an impasse following yesterday’s movement It now appears that the market could be positioned to see massive near-term downside due to some warning signs being flashed by Bitcoin If the benchmark cryptocurrency does lead the market lower, altcoins could severely underperform it Bitcoin and the entire crypto market have seen some calmness throughout the past day, struggling to garner any directionality in the […]

2020-6-4 23:00


Altcoins Could Face Capitulatory Decline as Crypto Market Hits Key Resistance

The aggregated cryptocurrency market has been struggling to spark a macro uptrend due to Bitcoin’s inability to break above $10,000 This has led it to form some heavy resistance just above its current market cap – with this level potentially being insurmountable in the near-term Analysts are also pointing to altcoins severe underperformance of Bitcoin in recent times, which could suggest that this potentially imminent market-wide decline will be brutal for smaller cryptocurrencies Bitcoin and […]

2020-5-31 22:00


Фото:

Ethereum Forms 90% Correlation to Bitcoin; Here’s Why This Is Bearish

Ethereum and Bitcoin have formed a striking 90% correlation to one another throughout the past couple of years This correlation has grown in recent times, despite many altcoins being able to break it It does appear that, in the short-term, this could prove to be dire for ETH, as the benchmark cryptocurrency may soon see a notable decline Ethereum has been generally tracking Bitcoin’s price action in recent times, with altcoins in general struggling to […]

2020-5-29 23:00


Фото:

Crypto Market Faces Massive Resistance as Traders Expect Altcoins to Dive

The crypto market is flashing some overt signs of weakness as Bitcoin leads most major altcoins lower Although some smaller tokens have been able to escape these losses, the aggregated market recently tapped a major resistance level, opening the gates for major downside This has led traders to widely note that Bitcoin and other major alts like Ethereum could be positioned to see immense losses in the near-term Bitcoin and the aggregated crypto market have […]

2020-5-27 23:00


Фото:

2 Altcoins That Could Soon Break Out

ALGO has reclaimed a long-term support level and created a bullish reversal pattern. RSR is attempting to break out above a very important resistance level but has yet to do so. Algorand (ALGO) The possibility of the ALGO price moving upwards was shown by @damskotrades, and it shows that the price has just reclaimed the […] The post 2 Altcoins That Could Soon Break Out appeared first on BeInCrypto.

2020-5-27 17:50


Фото:

XRP Could Soon Trap Bulls; Here’s How Low Traders Think It Could Decline

XRP, like most other altcoins, has been caught within a bout of sideways trading throughout the past several days and weeks The cryptocurrency’s rangebound trading may not last long, however, as analysts are now noting that it could be poised to see some major downside in the days and weeks ahead Its next notable decline could be sparked by a bull trapping movement higher Some analysts are even pointing to a fractal that suggests new […]

2020-5-24 22:00


Фото:

Ethereum’s Price Action Could Resemble a “Car Crash” if it Breaks Below $190

Ethereum has once again declined back down to its long-held consolidation channel around $200 The cryptocurrency is now showing some signs of weakness as it continues performing poorly alongside Bitcoin and most other major altcoins This weakness could soon lead it down to a key support level that must be maintained by buyers A failure for ETH to hold above this level could mean a “car crash” style decline is imminent, according to one analyst […]

2020-5-23 23:00


Фото:

Altcoins Headed For A Nauseating Capitulation As Bitcoin Strengthens: Analyst

The crypto market has rebounded sharply from the mid-March lows, but the altcoin market activity in recent days suggests that altcoins could be in for a brutal correction soon. Despite desperate hopes for an altseason, one analyst thinks altcoins are likely headed lower than anyone could have imagined, as bitcoin’s dominance grows from strength to […]

2020-5-16 23:12


Фото:

Here’s How Bitcoin Could Force Altcoins to Set “Major Lows”

Bitcoin has posted a notable upswing today that has allowed it to approach its next key resistance level at $9,500 The cryptocurrency’s intense uptrend is showing no signs of slowing down as it continues gaining dominance over the entire market Some analysts are now noting that altcoins could be positioned to see some serious losses in the weeks ahead as they all decline against their BTC trading pairs The aggregated cryptocurrency market has continued declining […]

2020-5-8 02:00


Фото:

Bitcoin Halving Hype Could Give Way to Consolidation or Retracement, But what about Altcoins?

Just four days away from halving, we have some interesting next few weeks ahead of us. The world's leading digital asset is already enjoying an uptrend, currently trading above $9,800, breaking off its relation with equities after the correlation between them reached a peak during the past couple of months. This short pump is rolling […]

2020-5-7 20:58


After 90% crash, Ethereum just printed a major cycle bottom: fund manager

Believe it or not, there was a time when a single Ethereum traded for over 0.10 BTC, meaning that you could sell a mere handful of the altcoin and obtain a whole Bitcoin as a result. However, it’s a whole different story today; since the highs set at the peak of 2018’s bubble, altcoins have […] The post After 90% crash, Ethereum just printed a major cycle bottom: fund manager appeared first on CryptoSlate.

2020-4-27 16:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Litecoin Bear Flag Could Cause 41% Crash To This Level, Analyst Explains

An analyst has explained that a bear flag is potentially forming for Litecoin, which, if confirmed, might cause a decline for LTC to this level. Litecoin Could Be In Danger Of Deep Decline Due To This Bear Flag In a post on X, analyst Ali has pointed out a possible bear flag taking form for Litecoin.

Litecoin Breaks Another Record: HODLers On Network Now Exceed 5 Million

On-chain data shows Litecoin has reached another milestone as the total number of HODLers on the network now exceeds five million. Litecoin Long-Term Holders Have Continued To Rise In Number Recently According to data from the market intelligence platform IntoTheBlock, LTC has seen its long-term holder count hit a new record this week.

Litecoin Completes Halving, But Price Plunges 6%

Litecoin has completed its much-anticipated halving event today, but it seems the investors have reacted by participating in a selloff. Litecoin Has Completed Its Third Halving, Block Rewards Now Down To 6.

Sell The News? Litecoin Traders Capitulate Ahead Of Today’s Halving

On-chain data shows that Litecoin traders are showing signs of capitulation as the asset’s much-anticipated halving event is only a few hours away now. Is Litecoin Halving A Buy The Rumor, Sell The News Event? The “halving” here refers to a periodic event where Litecoin’s block rewards (that is, rewards that miners receive for mining blocks) are permanently cut down in half.

Litecoin Whales Deposit Big To Exchanges, Bearish Sign?

Data shows that Litecoin whales have deposited a large amount of the asset to exchanges during the past day, a sign that may be bearish for LTC. Litecoin Whales Have Made Significant Exchange Inflows In 24 Hours According to data from the cryptocurrency transaction tracker service Whale Alert, several large transfers have taken place on the LTC blockchain during the past day.

Pre-100X Litecoin Signal Returns After Six-Year Slump

Litecoin price is now back under $100, locked within an ever tightening trading range. The lack of notorious cryptocurrency market volatility in LTCUSD in recent weeks is reminiscent of late 2016 and early 2017 — right before an epic 100x rally.