In my eyes, there might be a scenario where “Another lower high below $49,000 is on the horizon!”
Even if prices go further up before a pullback, I still feel like sub-$70,000 is probably where we’re going, so that would be another “lower high.”
As I discussed in my last video, BTC breaking above the local high of $65,000 is a clear sign of strength in my opinion (when considered in the context of typical performance since the cycles and lows).
If the fourth quarter does lead us to new all-time highs, then from what I understand this should be the last major drop and the next 12 days may be a huge bear trap.
Likewise, if you are optimistic about the fourth quarter, the next 12 days may be your last great opportunity to acquire altcoins or establish longs before prices break out of the current range and move upwards.
But of course, whatever your opinion, keep an open mind.
Of course, if we close below the current cycle’s interim low of $52,500, I’d be inclined to believe that the market won’t mature until at least the end of Q1 2025.
Another interesting scenario from a trap perspective, and one I am bullish on, is that BTC continues to fluctuate while altcoins rebound (which is contrary to what 99% of the crypto space (CT) expects or thinks is likely to happen).
In this scenario, I still expect the range to hold (as would be the case with downside closes), but we may simply create a higher low for the next cycle low (DCL) on the 60-day cycle and then challenge the range highs (but not break them).
I don't know what the probability of this happening is, but if it does happen, it will inevitably become a huge trap.
“Altcoins are rallying and BTC hasn’t even entered the price discovery phase yet, imagine what will happen when it enters that phase!”
FWIW: I’ve noticed this trend over the past week or so, with some altcoins once again significantly outperforming BTC — so maybe this is a clue worth keeping an eye on, and it’s definitely something worth keeping an eye on in my opinion. 👗👉➩BNB0098
Either way, buckle up — the next 12 days are likely to be filled with excitement.
