Alt Season Finally About to Begin

It has been a pretty brutal stretch for the majority of alts since this chart topped in the first week of December. However, after almost 2 months of accumulation we are seeing more and more compression on this chart ( notice the higher lows and lower highs).

Once this pattern breaks, which I believe it will sometime in the next 7-10 days (based on the current rate of compression), alts will start ripping to the upside.

I think the market makers knew how bullish the majority of retail sentiment was at the beginning of this month (new year, new administration) and wanted to delay the true breakout until sentiment was more bearish.

I will post my elliot wave analysis for the bigger picture on this chart once we get a breakout to the upside. I think this wave will be explosive and we will start to see daily candles with >50% on many different alts.

Bottom line, if you own alts, this should be the chart you are focused on. And its almost ready.