1. The market share indicator of Bitcoin is an effective indicator to observe the altcoin season. I mentioned before that the MA60 moving average is very important, and the two daily K lines on the 23rd and 24th have tested and retracted;
2. The market is gradually entering the second phase → criticizing Bitcoin.
1. Bitcoin may be in the 4th wave of the blue line on the 12-hour level;
2. A 12-hour level retracement requires breaking the upward trend at levels below 12 hours, first inserting small needles and then large needles;
3. Although the current adjustment seems relatively mild, this is just the beginning. If the adjustment starts, the range is between 78500→91500, with stops above 86500 indicating strength;
4. The above analysis is a predictive adjustment but has not been confirmed; the strategy should be executed when the adjustment is confirmed, not when anticipated.
Altcoins (Overall Market Capitalization of Altcoins)
1. Bitcoin cannot be called a retracement right now; it can only be called a phase where the upward trend shifts to a consolidation trend, and it's at a small level;
2. The trend of altcoins here will be differentiated, independent, and may not necessarily follow Bitcoin, but the altcoin market at this time is also difficult to grasp because there are too many cryptocurrencies, and you don't know which one will be pumped today and which one tomorrow;
3. So the strategy here is to take profits gradually or set protective stop-losses if there is a rise in positions that were previously ambushed; if you haven't ambushed before, you must be cautious about chasing highs;
4. Since the overall trend of Bitcoin is still upward, it's not a bad bullish strategy to ambush some promising 'main tasks' that have undergone significant corrections;
5. For those who are bold, you can look for some altcoins that clearly have a top structure to short, but be careful, it must be a structure above the 4-hour level; otherwise, the stability is too poor. At this stage, it's very likely to form a similar top consolidation in the 4-12 hour range;
6. In this market, no one can give you a definitive answer, so either believe your own judgment or blindly follow some knowledgeable bloggers, place your bets, and be willing to accept the outcome. Don't be a giant baby, don't be a whiner; aside from showing your incompetence, it brings no benefits;
7. Remember the three elements of getting rich quickly: early entry, heavy investment, and holding on.
PNUT
I will continue to pay close attention to new, high-heat cryptocurrencies that go on the BN spot market;
Could it be a wave? I judge it's not; what if it is? Just deal with it! Trading is like that, we are dealing with high-probability events, if low-probability events occur, just consider it bad luck.
As I often say, there is a 99% probability that Bitcoin will not form a top A, but what if it does form a top A? Acknowledge it!
NEIRO
Most altcoins that move like this are not in a main upward wave; a main upward wave is crazy and driven by FOMO; now it's restrained, it's a 'three in, two out' situation. Wait for Bitcoin to drop, wait for altcoins to go crazy.
There will definitely be twists and turns in between; after all, Bitcoin has not experienced a decent adjustment since the upward trend started. It can be horizontal or vertical, but regardless of the method, I believe that after this adjustment, Bitcoin will completely drop BTCD.
