Quick Facts:
1️⃣ The TOTAL3 chart is mirroring the same bullish setup seen before the 2020-2021 altcoin boom.
2️⃣ The formation of an inverted head and shoulders pattern followed by a key liquidation candle signals that a major altcoin breakout could be imminent.
3️⃣ With the market primed for a strong run-up, some of the best altcoins to buy now include $SNORT, $MAXI, and $TROLL – all poised to benefit from the coming altcoin wave.
In the world of cryptocurrency, historical performance is a vital signal of what may lie ahead. Considering this, now is an excellent opportunity to invest in promising altcoins that could yield significant returns in the near future.
That’s because the market is setting up perfectly for a generational bull run.
@el_crypto_prof, a crypto analyst with over 160K X followers, recently shared his analysis of the TOTAL3 chart, which tracks the combined market capitalization of all altcoins except Bitcoin, Ethereum, and stablecoins.
The trader pointed out that Friday’s liquidation events could be the single biggest trigger point for the next altcoin boom.
All we have to do is look back at what happened in 2020-2021, right before that massive 1,000% rally.
At that time, the TOTAL3 chart developed a perfect inverted head-and-shoulders pattern. It broke out of this pattern with significant momentum (indicated in yellow), then moved sideways for a couple of months (shown in orange). After that period, it printed a pivotal liquidation candle, which was followed by several large green candles over the next few months.
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Author: Krishi Chowdhary
