$BTC The process of rising will encounter many difficulties!
We are currently in an extremely difficult stage for retail investors as BTC, according to technical analysis, is in the final capitulation phase (phase C) according to WICKOFF.
And the characteristic of phase C according to WICKOFF is that during the upward process, there will continuously be resistance forces taking profits that will cause the price to fluctuate up and down extremely uncomfortably, but usually will create higher lows with gradually increasing volume (indicating that institutions are starting to put in some money to absorb the selling pressure from retail investors until there is no more selling pressure from retail investors, then it will enter phase D - calling for funds from other institutions to participate in pushing the price).
Because of the characteristic of a constant appearance of supply when BTC is in phase C according to WICKOFF, if there is capital flow starting to enter and pushing BTC prices to the ranges of 98-99k, we will continuously see BTC being pushed back immediately to support areas of 94-95k. However, the subsequent lows will usually be gradually raised until all retail investors are shaken out, then institutions will actually put a large amount of money in to enter phase D - the phase of capital raising.
Due to the characteristic of phase C continuously appearing with sell-offs, we will wait for BTC to drop to support areas to start buying ALTCOINS that are in the BU phase (phase D - according to WICKOFF) to start buying up and shorting in the current phase like KOMA. Currently, almost all altcoins and topcoins in this phase are experiencing fierce sell-off processes, so around the market, there are hardly any altcoins or topcoins set up for price pushing.
