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The final week of April brought an optimism shock to the crypto market, which spent most of the year wrestling with macrocross currents. The psychological resilience of Bitcoin beyond the $90,000 to $95,000 levels, an unexpected surge in stubcoin issuance, and a swarm of bullish patterns of textbooks across the names of large caps and memes, has been reported as veteran chartist Josh Orschzitz, who said, “202.
Crypto Bull run -back?
Olszewicz’s argument begins and ends with fluidity. The $200 million tether mint on April 29th pushed total USDT + USDC supply to a fresh, top-high. “Tethers are printing, printing, making, baby,” he said, emphasizing that the billion-dollar double tranche arrived with a clear premium for Kraken’s USDT/USD pair. “Usually, that means people are deploying it to alt. That’s why it’s a stable coin mint, especially tethers -[are] Generally, people are bullish because they use it to speculate. ”
A fluidity pulse arrives so that some macro obstacles appear to be retracted. Bitcoin survived what it called “some job numbers announced this week” without surrendering the negative print US GDP release, sticky PCE inflation data and three months of uptrend. Meanwhile, gold rolls and the dollar index remains near a decline in cycles, recreating the background of the “all rally” with the driven Crypto’s late 2023 melt-up. However, the funding market said, “There are still negative funds on the BTC side with Crypto Exchanges. There are positive funds in future legacylands. That’s very strange for now, but so far very good.”
Against this background, Olszewicz will drill into the Ichimoku-Cloud mechanics supporting the Altcoin watchlist. The premise is as old as the indicator itself. Daily candles inside the clouds close inside the clouds with bullish Tenkan Ki-jun (TK). “All of these transactions are the same. I don’t treat them differently,” he said. “You get a better entry…it’s just a game of probability.” This strategy sets out a clear invalidation (either a kijun line or a low drop), and offers what he characterizes as the average inversion of the Dow theory framed through the Squish Cleanse.
The formula is currently flashing on an astonishing range of assets.
Solana and Curve
Solana sits at the top of his list. The Layer One Token posted six consecutive red daily candles, carving the “right shoulder” on the reversed head and shoulder, with the neckline rising to $200. “It’s this potential edge-to-edge move that I have to focus on lasers,” he explained, noting that the ideal entry will be between $140 and $120, but not essential. “We need to get a great signal for Sol’s entries from the cloud within next week or two.”
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In contrast, the curve is already moving. Most altcoins spend double digits on the day they bleeding. “Why is it going up 10% today and everything else is down? I don’t have a good answer for that,” he admitted. However, technical structures are rarely interpreted. Accumulation of flat bottoms for several months, candles inside clouds near the bottom boundary, bullish TK cross. “You’re on your journey somewhere here, another end of the cloud,” he said.
Ethereum and Lightcoin
Where Solana and Curve show imminent triggers, Ethereum remains a typical laguard, still chiming what Orschwicz labels the bottom ring process. “To start here, you need kicks and screams. […] But this is the bottom of the process. It certainly might take you to June. “Calculus is familiar. Traders intended for rotation may find better risk-adjusted returns elsewhere, and will only return to ETH if their own clouds allow candleclosures.
Litecoin exhibits similar dynamics, with the inverted head and shoulder contours “feeling a little earlier”, and ripened by early June.
fet, link, algo
Fetch.ai violated the cloud on April 23rd and already has a bullish TK cross, but Olszewicz has arrived “after a couple of weeks of up moves” and admits it is reducing the risk.
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ChainLink shows a textbook still under construction – “at Alert 15,” he suggests, but Algorand’s edge is heading towards a 32-cent cloud target.
In each example, the analyst repeats that the probability of follow-through remains statistically low until a formal trigger is printed.
Doge, Pepe, Wif
The meme cohort, the most flammable corner of the market, has already foreseen retail returns in his narrative. Dogecoin intrigued him most. “Along with Ena, one of the best bangs for your Bucks is Doge,” he said, but he admits that the pattern will need another week to sculpt the full right shoulder. He makes clear about his trigger: “Give it another week or two. This is definitely one of the good looking setups,” paying attention to the $0.175 area.
Pepe offers fewer moving parts. It is in the clouds, with a clear neckline on the bullish TK Cross and Kijun. “If ETH sneezes higher, I expect this to rise 25% a day,” he said, but warns that a transitional “negative 20% day” could precede pop.
WIF is “hitting into the cloud” with its own TK cross cusp. It goes back to its current level from $4.80 and offers what it calls “a good looking setup.”
BTC dominance
Bitcoin domination, still pushing the height of the cycle, complicates the story of rotation. “If this is extreme advantage, is it really important that you are not all-inned in BTC?” he asked rhetorically. His answer is temporary. Domination is extremely important at the bottom of October 2023, and he suspects it will become important once it rolls.
“I think we’ll come in May, June and we’ll start seeing the out-of-performance of the altcoins,” he predicts, but he seduces it with a dull reminder: “It’s no point sitting on these BTC pairs.” The exception is Solana’s BTC chart. This reflects the inverted head and shoulder and cloud targets of the USD paper significantly higher.
At the time of pressing, Sol traded for $151.90.
Featured images created with dall.e, charts on tradingview.com
