Weekly Altcoins Analysis 2023

by May 15, 2023Altcoin Weekly Analysis, Weekly Analysis0 comments

May 29 Altcoins Analysis

Regarding altcoins, due to the downward movement in front of Bitcoin and the reduction of BTC.D, altcoins will rise somewhat. As mentioned in last week’s analysis, we saw the pump of some altcoins; this week also, this will happen to the altcoins that made a lot of corrections and reached their important support due to the decrease in Bitcoin’s dominance.

BTC.D May 29 Altcoins Analysis

Due to the bearish nature of Bitcoin, traders should make long trades on altcoins with low leverage and small losses and avoid high risks.

May 22 Analysis

Because altcoins have mostly made good corrections and are often in good support areas, by ranging, or the slow Bitcoin correction described in the Bitcoin analysis, altcoins will be able to increase because of the decline in BTC.D, which may promise a short-term altcoin season, for this Altcoins Analysis.

BTC.D May 22 Analysis

The BTC.D k chart also demonstrates the trend’s weakness and divergence, which, if the daily time frame’s Head & Shoulder pattern is verified, will cause a good decline and present an opportunity for altcoins.

May 15 Analysis

According to the analysis done on Bitcoin, which we anticipate will increase, and the BTC.D chart, altcoins will increase as BTC.D declines, and we will witness additional pumps from altcoins. in this Altcoins Analysis, The Head & Shoulder pattern neckline has not yet been broken on the BTC.D chart, but a retreat to the 48% level is being completed, and if it is, a drop to the 44% level will occur. Altcoins will now have a chance to develop due to the ascent of Bitcoin.

See also  Week 4 (2023) BTC Bitcoin Analysis
BTCUSDT May 15 Analysis

The Total2 chart indicates low market volume and the potential for huge volatility, especially in altcoins; therefore, utilize tiny stop losses if you’re interested in placing long trades on altcoins near significant support levels.


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