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 A popular crypto analyst says technical indicators are suggesting that the altcoin market is gearing up for a massive breakout.
 Pseudonymous analyst TechDev tells his 446,400 followers on the social media platform X that the altcoin market cap structure may be repeating a historic bullish pattern.
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 “Altcoin accumulation. The most vertical leg since 2021 appears on deck.”
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GLDB4OQWQAAmP7k?format=jpg&amp;name=medium" alt="Image" width="1200" height="1066">
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 Source: TechDev/X
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 Looking at his charts, the analyst suggests that the crypto market cap, excluding the top 10 digital assets, is repeating a pattern seen during the 2016 and 2021 market cycles when it broke out, retraced and then surged to a new top.
 The analyst also suggests that the altcoin market cap’s logarithmic moving average divergence (LMACD) indicator is flashing a breakout trend. The LMACD indicator is designed to reveal changes in an asset’s trend, strength and momentum.
 Says TechDev,
 “Altcoins are ready. The market is not.”
 <figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GLsqmeqWQAAWBEI?format=jpg&amp;name=large" alt="Image" width="1579" height="1032">
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 Source: TechDev/X
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 Next up, the analyst also says that Bitcoin (BTC) appears on the two-month chart to be halfway through its current cycle based on historic precedence and the Bollinger bands, a price volatility gauge. The upper and lower bands widen when volatility declines while the bands contract when volatility is about to explode.
 Says TechDev,
 “BTC: looks about halfway there.”
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GK7YAd7XcAAR3Ko?format=jpg&amp;name=medium" alt="Image" width="1199" height="669">
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 Source: TechDev/X
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 Bitcoin is trading for $67,059 at time of writing, up nearly 3.6% in the last 24 hours.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/the-most-vertical-leg-for-altcoins-since-2021-is-now-on-deck-says-crypto-analyst-here-s-his-outlook-tbt86240.html">https://thebittimes.com/the-most-vertical-leg-for-altcoins-since-2021-is-now-on-deck-says-crypto-analyst-here-s-his-outlook-tbt86240.html</a>

The Most ‘Vertical’ Leg for Altcoins Since 2021 Is Now on Deck, Says Crypto Analyst – Here’s His Outlook

TheBitTimes

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