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Is the Altcoin Season Coming Soon? This Rare Bullish Pattern Hints At It (Analyst)

Is the Altcoin Season Coming Soon? This Rare Bullish Pattern Hints At It (Analyst)
TL;DR

Bitcoin consolidates at $37k, with a downturn in altcoins except for LUNA-related tokens. Crypto analyst MoustacheTA spots a Golden Cross on the monthly Altcoin market chart, signaling a potential uptrend.
The Golden Cross, a bullish pattern where the short-term moving average surpasses the long-term average, historically aligns with altcoin rallies, as seen in 2016 and 2020.
The onset of altcoin season often follows a decrease in Bitcoin dominance. With most altcoins linked to Ethereum, the rising interest and price movements in Ethereum are closely watched for their impact on altcoin prices.


Golden Cross Spotted on the Altcoin Market Chart
Bitcoin’s fate is uncertain as the crypto asset struggles at $37k. As CryptoPotato reported , Bitcoin has entered a consolidation phase characterized by a slight uptrend and remarkably low volatility.
Most of the altcoin market is also in the red, except for  LUNA-related tokens . However, the beginning of the altcoin season could be closer as one famous crypto analyst has identified a rare trend in the altcoin market— the formation of a Golden Cross on the monthly Altcoin market chart.
The analyst, who goes by the username MoustacheTA, shared a screenshot showing the pattern, predicting that the Golden Cross could manifest shortly before the end of the month.

#Altcoins
Friendly reminder that the Golden Cross on the monthly chart of the SMA20 is imminent (month closes in a few days).
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