Analysis and Outlook of Bitcoin and Altcoin Rally
I think we may see "another lower high below $49,000". Even if the price can rise further before the correction, I still think $70,000 is a possible target for us to reach, which will form another "lower high".
As I mentioned in my previous video, BTC's breakout of the local high of $65,000 is a strong bullish signal. If Q4 can lead us to a new all-time high, now may be the last chance to fall sharply. This may be a huge bear trap in the next 12 days.
If you are optimistic about Q4, this period may be your last good opportunity to acquire altcoins or establish long positions before prices rise. But regardless of your view, it is important to keep an open mind.
If the price closes below the mid-term low of the current cycle at $52,500, I think the market may take until the end of Q1 2025 to mature.
From another perspective, BTC may continue to fluctuate while altcoins rebound, which is contrary to most people's expectations. If this happens, the price range may hold, but we may just create a higher low for the next cycle low in 60 days and then challenge the range high.
Although it is not certain how likely this is to happen, if it happens, it will be a huge trap.
By the way, I noticed some altcoins outperforming BTC in the past week, which may be a clue worth paying attention to.
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