Here’s How High Bitcoin and Altcoins Will Rise Reapdaily

Renowned for their spot-on predictions, crypto strategist Rekt Capital hints at a potential Q1 2024 altcoin hype cycle. With a substantial following in the crypto community, Rekt Capital’s insights suggest a sync between Bitcoin’s Pre-Halving Rally and Ethereum’s price predicament, setting the stage for altcoin hype cycles

Analyzing Altcoin Market Cap

In a recent analysis, Rekt Capital, a pseudonymous analyst, offers a glimpse into the possibility of an impending altcoin rally. The strategist’s observations on altcoins unfold against the backdrop of the recent turmoil market.

New edition of the Rekt Capital Newsletter is live 🔥

Altcoin Q1 Hype Cycle Around The Corner? – PART 2

Features analysis on the Altcoin Market Cap, #BTC‘s Pre Halving Rally phase, Altcoin Hype Cycles and $ETH, $LINK & $SOL

Sign up to read it here:https://t.co/65oqHg7JNk

— Rekt Capital (@rektcapital) February 7, 2024

Focusing on Altcoin Market Cap over recent weeks, Rekt Capital observes a consolidation pattern towards the apex (depicted in black). This consolidation indicates that it is preparing for a significant change in its overall trend.

The fact that the Altcoin Market Cap is now right at the center of this pattern suggests that a crucial decision on its trend might happen in the upcoming week. This consolidation follows a series of historical retest attempts.

The first retest, marked by a green circle, centered on the green area. In 2023, this area transformed into a new support level, having acted as resistance in 2022 (as indicated by the red circle).

Subsequently, a second historical retest, marked with a yellow circle, focused on the red horizontal level of $182 billion. Sequential retests of the green area and horizontal red level mirror historical patterns

Altcoin Hype on the Horizon?

As of today, Altcoin Market Cap is undergoing the yellow circled retest, periodically dipping into the red horizontal $182 billion level over recent weeks. Despite this, the retest of the red level remains successful, creating stability and potentially paving the way for the Altcoin Market to revisit the $250 billion area over time.

In essence, the Altcoin Market Cap is building a base of support at the new Range Low of the red $182 billion level before embarking on an upward move toward the new Range High resistance at $250 billion.

The crypto community eagerly watches for these patterns, anticipating a potential Q1 hype cycle for altcoins.

Crypto 2025

Here’s How High Bitcoin and Altcoins Will Rise Reapdaily