I am expecting a move similar to the one posted on the picture. 71k will break with a chance of 90% since it has been hit multiple times. The question remains how and when we get there.
I think we are close. Will be looking to get longs down to 58.8k to ride them higher.
BTC Topped, you need to look at the right chart. Let everyone think we will hit ATH. We will do in the following months but for now we will see a correction.
As quoted in the previous post, last 10 days of the month might bring rejection on the market, I await for some move lower maybe around 43-44k max. Best case we drop to 47k. Not looking to short, just hedging some of my positions.
Seeing a move down to 46k is absolutely normal at this point, 50k is a psychological resistance level and it can lead to multiple rejections and liquidity tests lower.
Focus on the bigger moves from now. The scenario presented in the picture is the absolute best scenario for altcoin buys if a dip occurs.
85/100k cycle top for this run? What do you think total MC of all crypto will be? 3.5-4 Trillion
What's the time frame you're looking for this to happen? This is by far the most unpredictable. I would have to guess that top should be over by summer because when these trends start they don't last for very long.
What I think is going to happen if BTC breaks 50k area
Liquidity crisis, distribution zone will be around 85-90k. Wick to 100k is inevitable, it will be the retail trap area.
Then we drop lower, 60k is the new support, Bitcoin keep trading but on a different scale just like we shifted in 2021 from sub 20k to a new range above 20k.