The Crypto Market Prepares for Altcoin Season with Wyckoff Cycle Analysis

Wyckoff Cycle Unveils Current Market Phase

Crypto Analyst Identifies Market Behavior

The crypto market appears poised to usher in the highly anticipated altcoin season amidst the ongoing bullish momentum led by Bitcoin. A crypto analyst has utilized the Wyckoff Cycle to determine the current market stage, hinting at a potential surge in altcoin prices that could trigger the commencement of the altcoin season.

Understanding the Four Market Phases

Accumulation Phase Marks Smart Money Activity

Within the Wyckoff framework, the market progresses through four distinct phases: Accumulation, Mark up, Distribution, and Mark down. The Accumulation phase signifies the beginning of smart money accumulating assets at lower prices, leading to consolidation and reduced selling pressure.

Distribution and Mark down Phases Follow Cycle

Subsequently, the Mark up phase commences, indicating a breakout from consolidation with an uptrend fueled by heightened demand. The following phases include Distribution, characterized by selling pressure, and Mark down, where selling surpasses demand, resulting in a downtrend.

Altcoin Season on the Horizon

Anticipating the Parabolic Run

Based on the analyst’s Wyckoff cycle chart, the altcoin season is imminent as altcoins gear up for a significant price surge. This season typically showcases remarkable price increases for cryptocurrencies other than Bitcoin, often surpassing Bitcoin’s performance.

Factors Influencing the Altcoin Season

The onset of the altcoin season is projected post the reaccumulation phase in 2025, following the Mark up phase scheduled for 2024. As altcoins are expected to undergo a substantial rise during this phase, a bullish altcoin season looms. Additionally, Bitcoin’s price trajectory and dominance in the market play pivotal roles in shaping the upcoming altcoin season.

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