So, ladies and gentlemen, Bitcoin continues its thrilling journey into the uncharted depths of human greed. This time it is trading in the area of 96 thousand (yes, yes, not millions 🤌, but just thousands 🥲), trying to stay above the support zone. Of course, such movements are no longer news for the crypto market, but there are nuances that make one think...
Ichimoku Cloud — salvation or a sentence?
The 8-hour Ichimoku Cloud, which had kept Bitcoin afloat since 58 thousand, has been ruthlessly breached. Of course, we still have the 12-hour Cloud, which, like a faithful soldier, protects us from a total collapse. But if anyone thinks that it is safe within its borders, I hasten to disappoint — it is a temporary shelter, beyond which the mark of 85 thousand looms. Yes, this is the moment when retail investors start to panic, and whales prepare a trap.
Bitcoin dominance: has it decided to take a little break?
Meanwhile, altcoins are preparing for their moment in the spotlight. They are forming reversal patterns (or just pretending to form them), stoking interest in long positions. Of course, caution is advisable here, as behind every alt movement, there is a clever game by major players.
What conclusions can be drawn?
Well, the situation is ambiguous. On one hand, Bitcoin still has a chance to stay afloat, but on the other hand, even its strongest supports no longer inspire the same confidence as before. Altcoins are looming on the horizon, promising long-awaited profits, but be vigilant — the market loves to tempt first and then suddenly shatter all illusions.
As they say, believe in the best, but prepare for the worst. Longs? Why not. But don’t forget that shorting the market at such times can even be more fun.