Altseason Starts SOON! Do You Own These Altcoins?

11/25/24 •

Summaries by topic

• English

The podcast discusses the potential start of altcoin season, indicated by rising altcoin trading volume and an altcoin season index suggesting altcoin outperformance of Bitcoin. The speaker analyzes Bitcoin's price action, identifying potential support levels and suggesting long positions, while also highlighting several altcoins like ICP, AUDIO, UMA, VET, and V, which are primed for explosive gains based on their chart patterns and liquidity.

Altcoin Season

• 00:00:02 The speaker believes that altcoin season is starting soon, evidenced by rising altcoin spot trading volume and an altcoin season index suggesting altcoins are outperforming Bitcoin. Historically, post-election periods see Bitcoin rally due to market optimism and policy shifts, but investors may be seeking higher returns in altcoins, causing a shift in focus. Trading volumes exceeding 25 billion are considered a sign of a potential altcoin season.

Bitcoin Price Action

• 00:05:24 Bitcoin's price is dumping, currently around 95k, with no clear signs of reversal. The speaker anticipates a potential further drop towards the 86.6k level, but sees support around the 93.497 level and potentially good opportunities for long trades. Bitcoin dominance is dropping, which is desirable for the altcoin market.

Ethereum Analysis

• 00:07:03 Ethereum's price action is looking strong, with a significant support level at 3,360 which previously acted as resistance. The speaker and his community are long on Ethereum, having entered at 3,320, and are achieving significant returns. Another support level at 3,218 is also identified.

Altcoin Trade Ideas

• 00:09:52 The speaker provides specific trade ideas for various altcoins, including Big Time, ICP, AUDIO, UMA, and VET. These trades primarily leverage liquidity on charts, identifying entry points and take-profit levels based on chart patterns and potential future price action. Mexc exchange is highlighted as a platform for trading these altcoins.

Secret Trade: Vell

• 00:23:01 The speaker reveals a secret trade opportunity on Vell, which is believed to be built on Stellar. He observes bullish chart patterns and liquidity at the 0.02 level and the all-time high of 0.028. The suggested entry is 0.014973 with a stop loss at 0.013216, aiming for a take-profit at 0.02837. This trade is highlighted as a bullish leg for potential growth.