#Altcoins are oversold, while ETH/BTC is still holding stron | Eternel insatisfait on Binance Square

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Eternel insatisfait

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#Altcoins are oversold, while ETH/BTC is still holding strong. The next leg up is going to catch many people off guard

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Eternel insatisfait

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$𝟭𝟲,𝟬𝟬𝟬,𝟬𝟬𝟬,𝟬𝟬𝟬 𝗜𝗡 𝗦𝗧𝗔𝗕𝗟𝗘𝗖𝗢𝗜𝗡 𝗟𝗜𝗤𝗨𝗜𝗗𝗜𝗧𝗬 𝗪𝗜𝗟𝗟 𝗘𝗡𝗧𝗘𝗥 𝗧𝗛𝗘 𝗠𝗔𝗥𝗞𝗘𝗧 🚨 PEOPLE ARE WORRIED ABOUT MT. GOX DUMP AND THE OTHER BEARISH FACTORS, BUT THERE'S SOMETHING THAT WILL TAKE THE CRYPTO MARKET TO NEW HIGHS. THE FTX IS PLANNING TO DISTRIBUTE MORE THAN $16 BILLION TO ITS CREDITORS HERE'S THE TIMELINE 👇 ➜ AUGUST 16: VOTING DEADLINE FOR FTX CUSTOMERS ➜ OCTOBER 7: JUDGE DORSEY’S DECISION ON PLAN APPROVAL IF THE COURT APPROVES, FTX WILL REIMBURSE CREDITORS WITHIN TWO MONTHS. AS PER THE TIMELINE, THIS'LL OCCUR IN Q4 2024 TO Q1 2025. THIS PERFECTLY MATCHES WITH OTHER BULLISH FACTORS LIKE RATE CUTS, FASB ACCOUNTING RULE IMPLEMENTATION, AND US ELECTION RESULTS. GIVEN THAT MOST OF THE FTX CUSTOMERS WERE CRYPTO BROS, A HUGE CHUNK OF $16 BILLION WILL ENTER THE CRYPTO MARKET THIS WILL BE THE BIGGEST CATALYST FOR HIGHER PRICES.

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#BTC    Doing well to build on its recent bullish momentum Yesterday it performed a Daily Close above $56750 (purple) to move higher Over the next 25-mins it needs to perform a Daily Close above $58450 (black) That would fuel upside to ~$60600 (blue) $BTC #Crypto #Bitcoin   

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#BTC    In the 2015-2017 cycle, Bitcoin peaked 518 days after the Halving In the 2019-2021 cycle, Bitcoin peaked 546 days after the Halving If history repeats and the next Bull Market peak occurs 518-546 days after the Halving... That would mean Bitcoin could peak in this cycle in mid-September or mid-October 2025 Earlier this year, Bitcoin was accelerating in this cycle by 260 days Currently however, thanks to this over 3-month consolidation, this rate of acceleration has drastically dropped and is now approximately 150 days The longer Bitcoin consolidates after the Halving, the better it will be for resynchronising this current cycle with the traditional Halving cycle $BTC #Crypto #Bitcoin   

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#BTC    2 Phases of The Bitcoin Halving 1. Re-Accumulation (red box) A Re-Accumulation Range develops a few weeks before the Halving and concludes with a breakout from it months after the Halving This Re-Accumulation Range is between ~$60000 and $70000, with wicks to either side of the range In fact, Bitcoin is producing downside wicks below the major support of ~$60000 as we speak The goal now is for Bitcoin to protect this ~$60000 support with Weekly Candle Closes above said level More, after protecting this level, the goal would also be to continue moving sideways in the ReAccumulation Range in preparation for the next phase in the cycle - the Parabolic Phase (green) The Re-Accumulation phase can last a few months, up to 150 days (i.e 5 months) Many investors get shaken-out in this stage due to boredom, impatience, and disappointment with lack of major results in their BTC investment in the immediate aftermath of the Halving 2. Parabolic Uptrend (green box) Once Bitcoin breaks out from the re-accumulation area breakout into the parabolic uptrend (green) It is during this phase Bitcoin experiences accelerated growth into a parabolic uptrend $BTC #Crypto #Bitcoin   

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🚨BREAKING🚨 #BITCOIN    CRASHED TO THE LOW OF $57,800 IN LAST FEW HOURS. A TOTAL OF $270,480,000 LONG POSITIONS WERE LIQUIDATED IN THE LAST 24 HOURS. ALSO, A TOTAL OF 110,516 TRADERS WERE LIQUIDATED. THIS IS WHY I SAY, BUY SPOT AND CHILL. AVOID LEVERAGE.

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