The beginning of an end to Altcoins

This simple idea is based on my observation of the head and shoulders pattern on the daily chart. The green line is the first level of support based on the historical data, although support at around 35K is also plausible based on weekly moving averages.

The target for this head and shoulders pattern is much lower, at around 17K. However, it is reasonable to focus on higher levels of support mentioned above for now and plan accordingly.

Such movement in crypto market would likely wipe many of the altcoins entirely.

This is not financial advice, and I am not a financial advisor.