- Benjamin Cowen believes the recent altcoin market pump aligns with prior expectations.
- A continuation of the pump might push it out of line with expectations.
- Cowen says the TOTAL3 pattern is consistent with its pre-halving behavior.
Renowned cryptocurrency market analyst Benjamin Cowen believes the recent pump in the altcoin market aligns with prior expectations. However, continuing the trend with multiple weekly closes and higher valuations might push it out of line with expectations.
In a recently uploaded video, Cowen referenced his previous prediction that if Bitcoin bounces off its bull market support band, it could lead to the altcoin market (TOTAL3) testing its bull market support band. According to Cowen, the primary reason Bitcoin has such market development is seasonality.
Cowen noted that the market fulfilled his previous prediction, with Bitcoin bouncing off its support band, TOTAL3 retesting, and even crossing above its support band. He also observed that such behavior by TOTAL3 is consistent with its pre-halving year patterns. In 2019, a similar scenario occurred when TOTAL3 trended below the bull market support band until January 2020, ahea…
The post Crypto Analyst Says Recent Altcoin Pump Aligns With Expectations appeared first on Coin Edition.
The post Crypto Analyst Says Recent Altcoin Pump Aligns With Expectations appeared first on Coin Edition.