It appears that #Bitcoin used previous resistance ($40.3k), as new support in the last few days Lets see if continues to rally: pic.twitter.com/PkkVYZ1LCG Matthew Hyland (@MatthewHyland_). March 18, 2022Crypto Ed had previously provided a near term forecast of $43,000 BTC/USD, before a potential new consolidation period and then an exit up or down. He showed them breaking out of the “bull flag” formation they had been in for several days in a later update. However, Ether ( ETH) was the more interesting focus of the day.
#BTC Patience is a virtue, but finally breaking out of that bull flag pic.twitter.com/tCH9kVt7W6 — Ed_NL (@Crypto_Ed_NL) March 18, 2022Bitcoin was at $41,500 as of the writing. Volatility is still high. All aboard for the summer “altseason?” Altcoins: The top ten cryptocurrencies ranked by market capital saw varied movements in March 18. Similar: Bitcoin could experience a $37.5K weekend drop before a ‘bigger movement’ next week — report Avalanche ( AVAX), and ETH led the list. They each climbed over 5% within 24 hours. However, other tokens were generally flat. The ETH/USD traded at $3,000, up 15% in the last week. ETH/USD 1-day candle chart (Bitstamp). Source: TradingView These moves rekindled talk about “altseason”, with many commentators calling for a new golden age for altcoins in coming months. Popular Twitter account BTCFuel suggested that the Summer could be a peak in prices.
2/ I will be using charts of #Bitcoin, #Ethereum, and the dominance #altcoins from the various past altseasons to determine when the next #altseason peak will occur. By aligning them “correctly” structure-wise, I found this provisional target zone when the peak should happen pic.twitter.com/8H1MyPONiF — BTCfuel (@BTCfuel) March 17, 2022
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