Altcoins - Basing in October: Will November Bring the Big Move?
It seems we’re still in a basing or rotating cycle. We’re close to a trendy move, regardless of whether it’s bullish or not, as we near the end of this consolidation phase.
October has turned out to be #Flatober instead of #Uptober. That’s alright; the tighter the consolidation, the greater the chance November will make a definitive move in any direction.
I still lean bullish, but this week’s daily price action is a bit worrisome. Crypto appears to be used as a hedge, while equities remain the predominant risk-on asset going into CPI, making new highs as crypto retraces back to last week’s initial levels.
Basing for #October > Moving on to #November.
October has turned out to be #Flatober instead of #Uptober. That’s alright; the tighter the consolidation, the greater the chance November will make a definitive move in any direction.
I still lean bullish, but this week’s daily price action is a bit worrisome. Crypto appears to be used as a hedge, while equities remain the predominant risk-on asset going into CPI, making new highs as crypto retraces back to last week’s initial levels.
Basing for #October > Moving on to #November.
Transaction en cours
November is the month.We saw a good reaction off the CPI, but it seems we’re still in the rotational phase before the trend begins.
Get ready and keep playing #memes, as they continue to provide the biggest earners!
Note
We might see a small retrace here again.If it starts trading above 225 billion for a while, get ready for a massive expansion and a resurgence in crypto. It’s bouncing around as Bitcoin hit the 58.8K level mentioned in the Bitcoin Post. Now, it needs to reclaim the Monthly Open to build more conviction for the move.
Just remember: the more it compresses in October, the greater the chance for November to see an expansion.
Note
Reminder: If you're heavily invested in alts, this chart will be helpful. Staying above 240B will favor altcoins.Trying to flip above 224B.
More chop, maybe end of month
Note
We’re so close to a breakout—just one more push! If this was the low for the week (and it’s looking likely), unless 
BTC drops down toward 65k, we’re in a good spot. I’m leaning more toward a continuation play rather than a full mid-level retest.Either way, we’re getting closer and closer to Valhalla land!
Transaction en cours
Still active. Last chance for bulls to show who's in control!Note
It's currently at resistance. It might slow down a bit here before continuing. 
OTHERS
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.