ARE WE BEARISH OR BULLISH?
Two ways to find out đđ»
The total altcoins market Cap dropped to $742B as I predicted earlier.
This is altcoin total market cap showing a strong rejection from a Demand zone after Breaking a support level and we aspire to see a continuation of an uptrend considering the fact of having a liquidity at the top which acted as a double top and needs to be swept causing a push up in market price and creating of new highs
WHAT IS THE NEXT ACTION FROM HERE?
Fundamentals:
Big investors like BlackRock and others who were bullish on $BTC from its low at $15k are currently in the market and taking profit at intervals while looking for very good entry again. Itâs business as usual.
This will result to more lows for Bitcoin until the next demand zone at $32k
Technicals:
The price rejection at the Bitcoin $40k demand zone is the beginning of a momentary penetration which will continue for a while to fill the bearish wick formed in the 4H timeframe.
The chart below shows that price for altcoins might hit the $700 Billion demand zone before another impulsive bullish movement.
The current price positions constitute the accumulation zoneâŠ
Accumulating altcoins at this current price is fairly good but waiting to accumulate at a lower price is better.
DYOR
NFA
Educational purposes
