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A popular analyst says that last week’s marketwide correction has put altcoins in a position to see muted price action in the next few months.
Pseudonymous analyst The Flow Horse tells his 211,300 followers on the social media platform X that he expects altcoins to trade sideways until July.
According to the trader, the lack of retail inflows will keep altcoins range-bound for months with some printing fresh local lows before the next big move up.
“Time is a pretty important component of corrections in my opinion, especially in a market that is very long still and has no new retail flows coming in.
Even if the market were to chop until July, with the lows still being relatively the same as they are now, I would much rather buy further out, than too early and deal with the psychological issues created by chop..
Many of them will make new highs yet still first make new *local* lows. New retail isn’t here and the bags don’t have enough bidders to go around.”
While The Flow Horse is expecting chop for altcoins, he says he’s looking at three crypto subsectors that will likely outperform once altcoins regain bullish momentum.
“Buy the July lows in alts if I had to purely guess.
AI (artificial intelligence)
Memes
RWAs [tokenized real-world assets].”
For now, the trader says he’s accumulating altcoins to capitalize on big bounces.
“Buying things that are green for even higher bounces. Scan around. It’s obvious.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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