The latest price chart of the overall cryptocurrency market cap, excluding Bitcoin and Ethereum, indicates that the accumulation phase may be drawing to a close. This suggests that the window to purchase alternative cryptocurrencies at lower prices could soon come to an end.

The chart, known as TOTAL3 on TradingView, bears a resemblance to a "Wyckoff accumulation schematic," signaling a potential shift in the market cycle. This schematic portrays the bottoming phase of a market cycle according to the Wyckoff Method, a century-old technique discovered by Richard Wyckoff.

According to Wyckoff's theory, the market is influenced by a group of significant players known as "The Composite Man," who manipulate prices to accumulate assets at lower prices before driving prices higher during the mark-up phase.

Given the similarity between altcoin movements and the Wyckoff accumulation pattern, it suggests that the mark-up phase for altcoins could commence soon. Consequently, the opportunity to buy altcoins at discounted prices may soon diminish.

However, it's essential to note that the Wyckoff Method also indicates subsequent phases, including distribution and mark-down, where prices may decline after reaching a peak. This cyclical pattern implies that after a period of mark-up, the market may enter a phase of distribution followed by a downtrend before starting the accumulation phase again.

The insights provided here are based on the observations and analysis presented in the CoinChartist (VIP) newsletter, authored by Tony, offering market insights and technical analysis education.