Rare Altcoin Signal Brewing Since 2020 Foreshadowing Parabolic Expansion, According to Crypto Analyst
A crypto analyst known for his charts says that altcoins are flashing a very bullish signal that’s been five years in the making. In a post on the social media platform X, pseudonymous analyst TechDev shares with his 535,000 followers a TOTAL3 chart, which measures the entire market cap of crypto assets excluding Bitcoin (BTC), Ethereum (ETH) and stablecoins. Using three-month candles, TechDev’s Analysis suggests that TOTAL3 is currently breaking out of a massive ascending triangle that started forming in late 2020. “Macro altcoin expansion has triggered. Not seen since late 2020. But this one comes after a 4-year coil…the longest in history.” Source: TechDev/X The analyst believes that the altcoin market is trading in line with what’s known as a Livermore Accumulation Cylinder, a pattern identified by trader Jesse Livermore, a pioneer of day trading prominent in the early 1900s. Livermore Cylinders typically see price trade wit...