The fact that the movement from the local low has had so much interaction with this Fibonacci channel, that wave C is exactly 1:1 with A, and that the movement has been primarily caused by stablecoin mints plus FOMO due to ETFs and the halving, confirms that this movement is corrective and not impulsive, and that it should be followed by a continuation of 2022. This continuation should be shorter in time, but more aggressive in terms of price/time ratio.
-BTC bounces from 44k-45k to form a lower high around 47k-50k. In the meantime, altcoins bounce harder and go for the last high, forming a divergence with BTC (low caps could keep giving good returns)
Bitcoin is going a bit higher than the 50k resistance level, taking liquidity above it. Back below 50k, and this would be a clear deviation (likely)
Altcoins keep moving up which is good. The divergence with BTC hasn't been formed yet, but it should happen soon, when BTC starts making lower highs. Keeping the 30%-40% exposure
Currently testing a major support. 5th wave of C is missing, and the main resistance hasn't been reached yet. Also most altcoins look like they want a last high, that's why I have some exposure to alts.
Currently testing a major support. 5th wave of C is missing, and the main resistance hasn't been reached yet. Also most altcoins look like they want a last high, that's why I have some exposure to alts.
The analysis is playing out so far. BTC should reach 44k-45k first and then possibly 50k. That would trigger massive FOMO again and liquidate all the early shorts. But at the same time, that would complete the w5 of C, meaning the bear market rally is over.
On the other hand, altcoins are bouncing nicely and I expect them to keep pumping as long as BTC stays within the 40k-50k range (local top formation/distribution)
I wish you all a nice week!
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