A renowned crypto analyst on X has recently sparked discussions within the altcoin community by predicting an imminent “altcoins bull market.” This anticipation is rooted in observing a notable pattern in the altcoin market cap chart.
Accumulation Pattern Suggests Bull Market Incoming
According to the crypto analyst Mags on X, the market capitalization of cryptocurrencies, excluding Bitcoin, has reached a crucial stage in the Wyckoff Accumulation Pattern, hinting at potential upward momentum shortly.
For context, the Wyckoff Accumulation Pattern, named after Richard D. Wyckoff, a pioneering early 20th-century trader, is used to identify the stages of a market bottom when institutional investors accumulate an asset before the start of a new uptrend.
The Wyckoff Accumulation pattern typically unfolds in five phases (A), designed to highlight how large professional interests prepare an asset to be moved into a substantial markup phase.
Phase A signals the halt of the previous downtren
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