In the middle of the night I wanted to write a short article, sort out my thoughts, and test my own lamp power. 💡💡
After the launch of #Btc #etf , Grayscale sold its Bitcoin holdings, triggering market panic. The decline of Bitcoin has made the already weak altcoins even worse. However, I think this adjustment will not be too deep. It is even possible to absorb the selling pressure through sideways consolidation. After consolidation, it will directly enter the bull market and the main rise. I will talk about it. Why?
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Let’s talk about the market trend first. A few months ago, I estimated that the bottom of this bull market has been reached, and the trend will be similar to the cycle in 2015. Bitcoin did not bottom out again, but continued to rise. After reaching key resistance, it made a slight correction. It is now The situation is very similar. 🚨
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The second dip in 2020 is due to the black swan event of the epidemic. From the perspective of the general cycle trend, since there was no second bottom in the seven months before the halving, this shows that we are in the early stages of a bull market, and the next trend will rise layer by layer. 💹💹
Based on past trends, the early bull market pullback will not fall below key support levels, which is the best time to enter the market. Roughly speaking, Bitcoin will rebound after a pullback to the 20-week moving average (~$36,300).
Using Web3Tinkle’s indicator, the past mid-term corrections have not fallen below the green range, and the current price is around US$37,000. Therefore, I personally believe that if there is no black swan event, Bitcoin may consolidate sideways above US$37,000. After the correction, it officially enters the main stage of the bull market, showing a straight upward trend. 🔥🚀
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Looking at it from another perspective, I don’t think interest groups or bookmakers will carry out large-scale reshuffles because the current fundamentals are quite strong. The ETF was approved, new capital was strong, and there was a lot of capital waiting to enter the market. In this case, large investors play games and sell a large amount of chips in exchange for lower entry opportunities. The price/performance ratio is not high: in the process of smashing the market, the waiting funds may actively absorb the selling pressure, but the losses will be greater. More chips. This is also why I think a sideways consolidation above $37,000 is more likely. 🐂🐂
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So, if this correction is your last buying opportunity, what should you buy? 💳
Be sure to choose top sectors and assets, especially the leaders that performed strongly in the last wave, and don't be attracted by market laggards. In a bull market, the power of funds will be reflected on the market, and those who are strong will continue to be strong.
Ethereum Inscriptions#ethscriptionsis my top pick, with#ETHShaving a great run on the last leg as a leading asset. In the next wave of rise, it has the opportunity to surpass Bitcoin. The reason is that btc.d begins to weaken, the ether narrative is coming, and it needs to make up for the rise. 🔥🔥
At its peak, Ethereum’s market capitalization will actually be similar to that of Bitcoin. The current market value of Ethereum is one-third that of Bitcoin, and there is huge room for pursuit of growth. The narrative of Ethereum has not yet been overly hyped by the market. Ethereum’s Cancun upgrade is imminent, and Ethereum-related altcoins are currently at lows. This is a good time to allocate Ethereum-related assets. ⏰⏰
As an emerging asset class, Inscription is supported by top firms. This sector has huge potential capital and flow of people, and has huge potential. With improved infrastructure and liquidity, the entry of institutional funds will become more convenient.
In addition, you can also pay attention to the MEME sector on Ethereum, join the leading MEME community, and observe those currencies that have undergone a major reshuffle. If there is still a group of firm believers and the leaders of the community are actively involved, then this will be a good time to buy. Next, I will also share more of my favorite currencies. 💰#ordi #1000sats #eth
