OVERVIEW

It’s A Boy!

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

*If you’re a business and want to access this data via our API, email us.

Technical Analysis
Super Cycle Engaged 🚀 

Let’s take a look at some charts. 👀 

Bitcoin

In case you missed it, Bitcoin is ripping higher today. 💸 

The drive is impressive. The prior ATH was broken, and then $75,000 was hit in the early, early AM EST hours. And it didn’t stop. By this afternoon, it kept moving higher and hit $76,000.

How much higher can it go? Stocktwits users see $100k as a low bar target before the end of 2024. A CNBC panel this afternoon echoed the $100k level being hit before 2025. 🤯 

Altcoin Market Cap (Excluding BTC and ETH)

Altcoin’s are getting some love (finally) - and the question Stocktwits users are asking is how much room does the altcoin market have to grow?

Answer: a boatload.

You don’t need to know anything about the Ichimoku system other this:

1. Price is above the Cloud.

2. The Chikou Span is in ‘open space’

The condition of ‘open space’ occurs when the Chikou Span is above the candlestick bodies and it won’t intercept another candlestick body over the next five to ten periods.

At present, both of those conditions are true, fulfilling what Ichimoku analysts and traders call an Ideal Bullish Ichimoku Breakout - one of the most sought-after bullish confirmation signals within the Ichimoku Kinko Hyo system. 👍️ 

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