When altcoins experience a bull market, they don’t all move at once. I am looking for altcoins that have been lagging the outperformers in the altcoin market.
Today’s laggards are tomorrows leaders
The entire cryptocurrency market is exceptionally correlated to Bitcoin’s movement. Altcoin’s generally move in the same direction as other altcoins. Some altcoins begin by leading the pack while others seem to lag – that’s what I look for. I look for the laggards. If I see Komodo up +80% over the past 30-days, I want to know if others are showing the same performance. And if half the altcoin market I watch is green while the other is red, then I smell a buying opportunity.
Sirin Token (SRN)
It’s not a pretty chart from a candlestick perspective, but it’s still a chart that is lagging the front runners. And the current Ichimoku chart shows some very positive setups to bring it into the front with its altcoin peers. The 4-hour chart for Sirin Token shows price is sitting inside the Cloud. Price is above the Tenkan-Sen and the Kijun-Sen signaling some early warnings to bears that momentum may be shifting to the upside. We can also see that Future Senkou Span A is pointing up while Future Senkou Span B is flat. The most bullish condition on this chart is the fact that the Chikou Span has moved above price action and could very soon be in open space, creating a condition where there is little in the form of resistance for prices to move higher.
Entry @ 0.009
OmiseGO was, at one point this year, a leader of the altcoin market and had printed substantial gains before selling off. It now finds itself a fellow laggard, but in an excellent technical condition on the 4-hour Ichimoku chart to see it launch much higher. We can see almost the exact same conditions that were present on Sirin Token’s chart that are present on OmiseGO’s chart. I am waiting for OmiseGO to move up to my entry of 1.0345. If…