$BTC
👀🚨QUICK MARKET UPDATE 02/12/24.
Observing 👀 the overall market on the first day of the week 02/12/24.
1. According to the 3D wave structure of BTC and ETH, it currently shows that the lower support areas are very strong, sideways, and maintain the wave structure above the Fibo 0.236 zone. (Figures 1 and 2).
⚠️In the worst-case scenario, BTC will adjust to the nearest zone of 91K and the deepest will be 86K.
ETH will adjust to the 3K3 zone, the strongest support zone, and deeper will be 3K1 where it will reverse and increase again. Hopefully, this will not happen and only when number 2 shows an upward reversal. (See figure 3).
2. Regarding the USDT D index, it shows that the monthly frame has fallen below the trendline, and according to previous history, when there are signs like this, the market tends to adjust by about 10~20%. So observe 👀 this index for the first few days of the week.
3. Total3, when surpassing 1 trillion USD, shows strong reactions and signs of profit-taking selling from altcoins that have grown in November. (Figure 4).
4. The top 15~20 coins by market capitalization have been and are increasing very rapidly, and the FOMO is very large.
5. The AS (Altcoin season) index today is at 78/100. And as mentioned in previous articles, the Altcoin season has officially started to grow strongly.
6. According to the progress of the AS season, it is currently at phase 2, and ETH will be the ecosystem with strong growth potential and capital inflow. Next are large-cap and small-cap coins. The projected timeline will last until Q1/2025.
In general, today at the beginning of December, there will be a strong market reaction according to Vietnam time 🇻🇳 from 19:30~21:30 on December 02.
Bitcoinboy will observe and update 🙏