After Bitcoin Halving: What Form Will the Bull Run Take?
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Since March 14, the market has been fluctuating between $60,000 and $73,000 for more than a month. Some people think that the adjustment is almost over, while others think that it will continue to fall. In fact, both views are reasonable. But the most critical question is, when will the bull market come again? And how to buy the bottom in the bull market?
When will the bull market return? I think it will come after the market has experienced a bloodbath.
Does this wave of decline in altcoins count as a bloodbath?
Strictly speaking, no, because as far as I know, many people's losses are between 20% and 50%, which means that these people still have the capital to buy at the bottom.
During the 20-year bull market, there was a crash on March 12, which was actually more serious than the crash on May 19, because March 12 caused half of the retail investors in the market to exit, mainly contract players, which was very tragic.
The bull market in 21 years also experienced the 519 crash and the 94 incident in the 17 years bull market. The bull market only really started after most people in the market could no longer bear it.
Some people say that such extreme market conditions are unlikely to occur again, and perhaps the extreme market conditions of Bitcoin will not happen again, but before the altcoins are launched, I think it will still be very bloody, because the bookmakers also know that everyone is paying attention to altcoins, and as long as the altcoins are bloodbathed thoroughly enough, it will become easy to start.
Bitcoin is strong, while altcoins are weak
In the recent market performance, Bitcoin has risen from around $60,000 to $67,000, but altcoins have performed very weakly and seem to have no intention of rising. But as soon as Bitcoin falls, altcoins almost return to their lows and are completely unable to seize opportunities. In fact, I predicted a month ago that March and April would be very difficult.
So, when is the time to buy at the bottom?
My answer is to wait for the RSI weekly indicator to reach the bottom before buying the bottom. This is my point of view. Only when the indicator reaches the bottom can the market talk about bottoming out, so no matter what, I will wait for the indicator to bottom out. Therefore, I only make money within my cognitive scope and operate in the simplest way. Be patient and wait, the crazy bull market will definitely come again!
Buy the bottom of these 3 cryptocurrencies that are about to soar 100 times!
1.THETA
The price of Theta Fuel (THETA) has been trending downward throughout April and the second half of March. The altcoin fell from $3.4 to $1.9, a correction of 42%. As a result, the altcoin fell into the well-known bearish downside contagion pattern.
However, the Moving Average Convergence Divergence (MACD) indicator has a different meaning. MACD is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. It helps identify potential buy and sell signals based on crossovers and divergences between these moving averages.
The indicator has only shown a bearish trend over the past month, which was reversed this week with a bullish crossover in the MACD. This could spark an uptrend on the daily chart, helping THETA break out of a downside extension pattern, turning $3 into support.
However, if it fails to break above the upper trendline, the altcoin could fall back to the lower trendline. As the pattern suggests, this would lead to a potential downside move, effectively invalidating the bullish outlook.
2. RVN
Ravencoin (RVN) price is attempting to recover from the $0.028 low and is currently targeting the 23.6% Fibonacci retracement level of $0.058 to $0.028 to turn it into support. Marked at $0.035, doing so would allow the altcoin to bounce off the price level and break above the 38.2% and 50% Fibonacci lines.
Marked at $0.039 and $0.043 respectively, a break above these levels would sustain the rally and propel RVN further higher. The MACD is also on the verge of a bullish crossover with green bars on the histogram. Once such a crossover occurs, a potential bullish outcome could be confirmed.
However, if the 38.2% or 50% Fib levels remain intact, RVN could move back to the 23.6% Fib, thus invalidating the bullish outcome. This could result in a drop to $0.028.
3.AKT
The price of Akash Network (AKT) has been making headlines recently for its listing on Upbit and its upcoming summit, which will be the first for the network. This caused AKT to increase by nearly 74% in one day before falling back to 25%.
The current trading price is $4.80, which is just below the 50% Fibonacci retracement level of $6.25 to $3.44. A close above this line will allow AKT to break above the 61.8% Fibonacci retracement level of $5.17. This level is also known as the bull support floor as rallies gain strength after breaking above this line.
This could help AKT rise to $5.50 and even higher. However, if the breakout fails or the 50% Fibonacci level doesn’t hold, it could lead to a drop to $4.10, invalidating the bullish outcome.
