$BTC When will this round of the bull market for altcoins come?
Currently, in the market situation, many altcoins have nearly adjusted based on their K-line structure, but the retracement rhythm of the major coin is slower than that of the altcoins. We need to wait for the major coin to complete its full retracement process and structure to fully release the overall market risk before the altcoins can truly rise.
Strategy: The retracement is the best opportunity to assess strong altcoins and also the best opportunity for rebalancing. I've mentioned this countless times; I wonder if you have executed it?
Currently, the major coin is still undergoing adjustments pertaining to the rise from 58946 to 108353, and the short-term observation point remains at 92520. This level must hold for there to be a possibility of forming a bottom;
Although from a pattern perspective, I believe a drop to 89, or even 84, would look more aesthetically pleasing, during the low liquidity holiday period, the major coin did not take the opportunity to crash. Recently, I feel like it has been washing out retail investors in the U.S.;
It can be observed that the daily MA60 moving average is now close to the K-line, so we should see if it has the capacity to support.
There’s no need to look for reasons for the retracement; it has risen too much, the slope is too steep, and the indicators are oversold. These are all things that must be digested for a better lift-off;
Next time the market rises, we will completely surpass the 100,000 hurdle!
