Altcoin season is upon us… Analyst: ”Biggest bull market since 2017 is on the way”

Over the past month, altcoins have shown bullish activity following Bitcoin’s recovery, which has led to the analysis that the market may be on the brink of an altcoin season.
A new altcoin season is in its early stages, say analysts.
ParabolicPump, co-founder of Yahoo! Capital, posted on Twitter on the same day:
"Many altcoins have been very bullish over the past few days," he said in a post on Twitter.
"TOTAL3, which represents the market capitalization of all cryptocurrencies excluding ICO, has retested the upper boundary of the descending channel," it observed.
This important level has held down prices since March, but it is crucial to
A breakout to the upper limit would be a fatal blow to the bears, he said. According to Parabolic Pump, Bitcoin shares are forming an upward wedge as altcoin prices rise.
"It's just a matter of time now," he said, explaining that "every crypto bull market has had a phase where Bitcoin's share has fallen significantly."
Traders are viewing the signal that Bitcoin shares have peaked as a sign that it's time for investors to sell Bitcoin and move their capital into altcoins.
According to popular analyst Nebraskangooner, Bitcoin's recent rise in share to 58.61% marks the peak of this metric.
A bearish divergence on the relative strength index (RSI) suggests a weakening of Bitcoin’s market structure.
Meanwhile, anonymous analyst Moustance has reported that TOTAL2, which shows the total market capitalization of altcoins excluding Bitcoin,
Moustance observed that the altcoin is attempting to break out of an extending falling wedge pattern that has formed over the past six months.
With the market breaking out of its downtrend and the MACD indicator about to cross a strong trend, "a major upward trend that we haven't seen in a long time is in the works," he said.
In a follow-up post, he cited charts and on-chain data to suggest that "the market will experience its biggest bull run since 2017."