My view on the alt coin market therefor will be very if price takes out the previous daily high. More so if we start to close weekly candles above the last weekly close. A major area to beat will be the 1.618 of the current Total2 retracement. In the last Total cycle we saw consolidation after price action hit the the 1.618 level that lasted about half a year. This time price is consolidating under the level and we cannot tell just yet if this is all some sick joke and Total2 tops around that level. Of course, once the 1.618 level of this cycle gets taken out I would expect a higher probability of a repeat of the last cycle. That would see consolidations at each of the major fib levels.
I continue to have a suspicion that without the alt coins bitcoin would clearly be swirling around the toilet and it is the altcoin market that is carrying bitcoin . That is why the charts on BTCUSD can look so while total2 looks so bully. But as I said, first we have to get past the previous high on the daily and weekly closes, then the . If market cycles are getting longer then the next year in crypto will be a heady time with those confirmations.