Perhaps many did not notice, but recently an important event occurred - a breakdown downward of the 6-year ascending channel of $USDT dominance on the weekly timeframe 🎉
What does it mean? 🤨
Investors are beginning to actively enter the crypto market and all liquidity from USDT is actively flowing into cryptocurrencies.
Now USDT dominance will not go into a sharp decline, but the trend
strictly downward.
📉 Corrections in the market will be relatively small (up to -20-25% according to$BTC and up to -30% on$ETH ).
And if something extremely negative does not happen in the coming months, then BTC will reach its historical high without a 50% correction.
Therefore, any super-bearish scenarios are no longer relevant and a strong downward movement will only occur in the event of an emergency in the market.
💸 Soon the alts will begin to fully come to life and for this it is necessary for BTC to break through and consolidate above the $51,000 mark.
Therefore, it will be necessary to buy alts even more actively during any corrections.
Now BTC has reached the upper limit of the medium-term ascending channel.
This border is in the area of $51k, from which, by all logic, it will go for a small correction to about $41-42k, and if there is negative news, then the price may fall even below $40k.
😰 There are bearish divergences on all time frames and should be unloaded, and the RSI on the daily and weekly time frames is in the overbought zone. According to the sentiment index, it is now “extreme greed”!
📈 In order for a full-fledged BTC bull market to begin, indicators and sentiment need to cool down. This can happen through a correction or a sideways move.
Probably, soon there will be a last opportunity to purchase Bitcoin at prices of $40-42k.
📆 Usually some bad event occurs before the halving, which sends BTC into correction, but there are exceptions.
❗️ When a correction occurs, do not sell coins at a negative rate - now you need to actively accumulate positions.
⚠️ Those who sell positions in the red during corrections will not be able to make money on the crypto market in 2024.
A medium-term portfolio will outperform any trading strategy in terms of profitability, so I carefully assemble my portfolio. In it I bet on crypto, raw materials and metals.
There are a bunch of new ideas with great potential ahead, subscribe 🚀
