Moustache, a popular cryptocurrency trader and analyst, believes that altcoins may be on the cusp of a big upswing. In his recent post on X, Moustache shared his insights saying that market makers have done a great job at making many traders believe that there is no way that there is going to be another altseason. However, his analysis hints that this might just be a perception aimed at weighing down the altcoins before the onset of a rally.
Moustache mentioned these market makers heavily pump the current market sentiment; the majority is now convinced altcoins can’t go up again. He thinks this might have been a move that is made specifically to give the appearance of safety before a major change in the market.
Altcoins Eye MACD Signal
Moustache states that what one should focus on is the Moving Average Convergence Divergence (MACD) of Bitcoin domine on the three-week chart. The analyst also pointed out that while the MACD has not revealed the bearish crossover however it is nearing such a signal.
In the past such a crossover has always been followed by altcoins outperforming Bitcoin, therefore an altseason might be around the corner. In the past, a bearish cross on the MACD when it comes to Bitcoin dominance has led to substantial gains in altcoins in subsequent cycles which leads Moustache to expect the same.
Nonetheless, Moustache is optimistic even in the market that is hesitant to make any decision. He raises that they should be keen as they wait for the MACD crossover since it may lead to the market swing. If it so happens that we are on the verge of a new alt season, it is possible to turn the bear market on its head and make handsome profits for ALT holders.
With the development of the cryptocurrencies market, they often become unpredictable, and that is why it is crucial to use fundamental and technical analysis to get the highest results, as Moustache did it in his prognosis. Whether his forecast is right or wrong, the trading community has been forced to initiate new discussions and strategies.
