The $305 - $370 level has been critical support and resistance since the largest altseason so far in May 2017, when bitcoin broke its all time high of $1200 and altcoins saw 10x - 500x pumps across the board vs USD
Since that altseason in May 2017, ethereum has consistently come back to this range as support and resistance, recently confirming it as support
We might well see another few weeks of altcoin weakness against bitcoin
But eventaully the time will come where altcoins will outperform bitcoin.
This is a when, not if. Greed is always there in the human condition and it will return, just as it did in 2017.
We haven't experienced true greed for many years and many crypto traders have forgotten that feeling.
All that is left is the footprints in the sand, the proof on the charts, the evidence that altcoins did indeed do 10x - 500x vs USD from March - May 2017.
It happened before, therefore it can happen again.
For the long-term holders of altcoins, the time will eventually come.
Since that altseason in May 2017, ethereum has consistently come back to this range as support and resistance, recently confirming it as support
We might well see another few weeks of altcoin weakness against bitcoin
But eventaully the time will come where altcoins will outperform bitcoin.
This is a when, not if. Greed is always there in the human condition and it will return, just as it did in 2017.
We haven't experienced true greed for many years and many crypto traders have forgotten that feeling.
All that is left is the footprints in the sand, the proof on the charts, the evidence that altcoins did indeed do 10x - 500x vs USD from March - May 2017.
It happened before, therefore it can happen again.
For the long-term holders of altcoins, the time will eventually come.
OP
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.