Ethereum ETF Approval Bullish? Are We Entering Altcoin Season Now? I don't think so!


Bitcoin


BTC View in the beginning

  • Daily Frame: BTC expected to move within the range of 62,000 to 69,000.
  • 30-Minute Frame Plans:
    • Plan 1: BTC will move to the 69,000 area, then react to the 66,000-67,000 range.
    • Plan 2: BTC will react within the current range and test the 63,000-65,000 range.
  • Momentum on May 20: Weak, suggesting a possible stophunt period before a decrease.

Result on May 26:

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Altcoins


Altcoins View on May 20

  • General Direction: Following last week's plan.
    • Support: 970-980 billion.
    • Resistance: 1.16-1.2 trillion.
  • Expected Movement: Upward trend with an anticipated downward correction to look for positions.

Altcoins Mini Update on May 26

  • Current Status: After touching the correct Supply Zone, Altcoins have started moving sideways.
  • M30 Frame: Trend appears more downward, needing to test the lower border before moving up.
  • Updated Levels:
    • Resistance: 1.17 trillion.
    • Support: Raised to 1.02-1.05 trillion.
  • Outlook: Positive signals overall, even with the downward correction.✅

We can see there was a correction as "sell the news event" when SEC approved the Ethereum Spot ETF on May 23 as Ethereum decreased $300 in price value, however the uptrend momenturn returned shortly.

This strong bullish trendline can not be used as a clear signal for the altcoin season we're hoping for, however at least we can confirm that a mini altcoin season wave is ongoing right now.

After the ETF approval, we can see the flourish of Ethereum is coming back. Market is back to green, and we are now be able to see flash 50% green candle just within 1-2 days (thank god).

$BB (Bouncebit) x2 after 2 days:

$ETHFI surges 35% after the Ethereum ETF approval on May 23 - a Restaking narrative project in the Ethereum ecosystem.

Signal Call

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