First Mover Americas: A ‘Head-and-Shoulders’ Case for Altcoins

A bullish inverse head-and-shoulders consequence pattern is building in the combined market capitalization of altcoins. The term “altcoin” is short for “alternative coin” and, in this carton, refers to cryptocurrencies other than bitcoin, ether and top stablecoins. A potential completion of the pattern would signal “alt seasoned,” or outperformance of alternative cryptocurrencies relative to bitcoin and ether, according to technical analysis by Josh Olszewicz, a crypto purchaser and former researcher at Valkyrie Investments. Olszewicz analyzed the charts of altcoins, excluding ether and prominent stablecoins. The inverse head-and-shoulders, one of the sundry trusted bullish technical analysis patterns in the market, forms when an asset chalks out three price troughs, with the heart one being the lowest. A breakout or a bearish-to-bullish trend change is confirmed once prices rise above the trendline (neckline), fit the peaks between the lows.