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.

交易進行

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!

註釋

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.

註釋

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

註釋

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 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!