FIO Protocol Goes Bullish (656% Mid-Term Target)

25 ส.ค.The altcoins are booming... Well, maybe not yet but this is the start of the altcoins booming phase; the famously known "altcoins season."

I've been looking at many charts, hundreds of charts, in the past 25 days. There is always a mixture of situations. Some are strongly bullish, some are neutral, some are bearish. The majority of the altcoins are bullish —trading very low, near support or at new All-Time Lows.

They are not bullish because they are trading low, they are bullish because of the bullish action that is taking place after they completed a major bearish wave. Only a portion of the big ones (the giants), are bearish.

Let's look at an example: Here we have FIO protocol (FIOUSDT). The current weekly session, in a single candle, 8 weeks of bearish action have been erased. The week closes today, so this bullish signal would be confirmed within hours on a close above 0.02560.

There is massive buying in February as well and low bear volume recently. All these signals are pointing toward a trend reversal.

So why would some altcoins grow while Bitcoin moves lower?
Because these altcoins were moving lower while Bitcoin was higher.

Not everything moves at exactly the same time, the same moment. We have tens of thousands of trading pairs. The market is big and growing. Allow for major variations.

For example:
Some projects hit new All-Time Highs in 2024, others didn't.
Some projects hit new All-Time Lows in 2024 so far, many others didn't.

What one does, the others follow; this statement is true based on the broader market cycle and direction but not on the short-term and minor moves. Also, there are always exceptions to the rule.

Be blessed my dear friend and make sure to always comeback for more.

If you enjoy the content, consider hitting follow, it is the best and easiest way to show your support.

Namaste.