A widely followed trader who has reached the top of the 2022 crypto bull market believes the altcoin market is preparing to trigger a bullish explosion.
Pseudonymous analyst Pentoshi tells his 843,900 followers on social media platform .
According to Pentoshi, OTHERS is issuing a bullish continuation signal as it threatens to remove its final resistance at around $500 billion.
“Say what you want, but the variants look great as a whole here.
Bull flag/consolidation from previous highs last year.
Soon a signage.
Traders keep an eye on the OTHERS chart to get a general idea of how altcoin markets are likely to perform. Meanwhile, a bull flag usually indicates that an asset is taking a breather before triggering further upside.
At the time of writing, OTHERS is trading at $362.22 billion.
Pentoshi also closely monitors the TOTAL chart, which tracks the market capitalization of all crypto assets excluding stablecoins. The trader predicts that TOTAL could rise by at least 18% from current levels, but could see gains of up to 88% before the crypto bull market ends.
A rising TOTAL chart indicates that the value of Bitcoin (BTC) and altcoins is increasing.
“I guess we’re putting it at $4.2 trillion – $6.7 trillion right now. I will clarify it later. But the first target is $4.2 trillion.
At the time of writing, TOTAL is trading at $3.553 billion.
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