The cryptocurrency world is having a hard time for many people today, because according to my research on the market in the past week, most analysts are bullish, and many are constantly recommending some copycat purchases, especially contracts. In fact, the cost of sharing is very low. If you just record a video or write an article and send it out, there will be people watching it, and there will definitely be people following your lead. But if your level is not good enough, or if you are not up to standard, and you are half-baked, then you are really hurting others and yourself. This can be seen from the number of people who have been liquidated and the amount of liquidated.
I personally started to be bearish on March 20, 2024, which can be verified in previous articles and videos. At that time, I believed that the market could fall and adjust for three months. If there was no rapid decline in Bitcoin, the volatile market might last longer, but if there was a rapid decline, then it would be almost three months from March 20.
Of course, the decline I mentioned is based on the weekly line. The direction cannot be seen in one or two days. I prefer to refer to the weekly level for the spot trend. I have repeatedly sent out the cloud chart indicators for your reference, because when people analyze the market, they always analyze with their personal feelings, but if you follow the system mindlessly, there will basically be no big problems.
Now let’s get back to the topic. What is the bottom line of the counterfeit?
In fact, it is very simple. The bottom of the copycat is the bottom of Bitcoin. You don’t even need to refer to Ethereum, just refer to the bottom of Bitcoin.
The bottom of the Bitcoin weekly line is enough. The figure below is the double top of the weekly line. In the previous market, whenever there was a double top, there would be a plunge. This market is also a double top, so I have always emphasized the callback, and Bitcoin is still one wave of rapid decline. Without a rapid decline, it is difficult for the top of the double top structure to go down. Therefore, I personally think that in the next two or three months, there will be two weeks of rapid decline. After this wave of decline ends, the market will enter a period of shock. During the shock process, the cloud chart weekly line will successfully bottom out. That is the stage bottom.
Will the double top on the weekly chart definitely lead to a correction?
I am sure that there will be a correction at this position, because the monthly line has also reached the top, and it has even begun to turn downward. If it closes with a negative line at the end of April, there will definitely be a big drop afterwards. I dare not buy the bottom easily.
I know many people have lost money and are anxious to get their money back, but to be honest, in the cryptocurrency world, slow is fast, and opportunities come with waiting, so be patient. If you can wait until the bottom of the Bitcoin weekly line, which is also the bottom of the altcoin, you will have a chance. If it starts to rise in the second half of the year, it may be ten times, twenty times, or even a hundred times. However, if you have used up your principal at this position, when the real altcoin market comes, you can only cry.
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