Giant Flat Correction could be built on the altcoins chart (less Ethereum)
Indicators:
-Collapse in three waves in 2021-2022 (wave A)
-Retest of 2021 peak in three waves in 2023-2024 (wave B)
-wave B retested the start of wave A and failed to grasp the bullish ground beyond
-first move down and small correction that keeps below all-time high could be the harbinger of new five waves down in wave C
Large wave C should at least retest the valley of wave A at 288b cap
What could be the reason?
-Altcoins could lose its shine as institutions prefer only BTC
-Some huge risk aversion in global economy
You are welcome to share your views in the comments below to enrich our outlook.
Indicators:
-Collapse in three waves in 2021-2022 (wave A)
-Retest of 2021 peak in three waves in 2023-2024 (wave B)
-wave B retested the start of wave A and failed to grasp the bullish ground beyond
-first move down and small correction that keeps below all-time high could be the harbinger of new five waves down in wave C
Large wave C should at least retest the valley of wave A at 288b cap
What could be the reason?
-Altcoins could lose its shine as institutions prefer only BTC
-Some huge risk aversion in global economy
You are welcome to share your views in the comments below to enrich our outlook.
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