A popular analyst says last week’s market-wide correction has positioned altcoins to see moderate price action in the coming months.
Pseudonymous analyst The Flow Horse tells his 211,300 followers on the social media platform X expect altcoins to trade sideways until July.
According to the trader, the lack of retail inflow will do just that to hold altcoins stay the course for months, with some new local lows before the next big move up.
“Time, in my opinion, is a pretty important part of corrections, especially in a market that has been stagnant for a very long time and has no new retail flows.
Even if the market were to slump into July, with the lows still relatively the same as they are now, I would much rather continue buying rather than buying too early and addressing the psychological issues caused by the market.
Many of them will reach new highs, but first new *local* lows. There is no new retail and there are not enough bidders for the bags.”
While The Flow Horse is looking for altcoins, he say he looks at three crypto subsectors that are likely to outperform once altcoins regain bullish momentum.
“Buy July lows in alts if I had to purely guess.
AI (artificial intelligence)
Memes
RWAs [tokenized real-world assets].”
For now the trader say he collects altcoins to profit from big bounces.
“Buy things that are green for even higher bounces. Scan around. It is obvious.”
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Generated image: Midjourney