From a Fib-Retracement perspective, both BTC and the overall crypto market TOTAL are perfectly in line with a typical cycle before the next halving in April 2024
Before the last halving in May 2020, BTC reached the 0.618 Fib-Retracement in June 2019 and after that a correction took place
The 0.618 Fib-Retracement at ~USD48k is also within reach for BTC in this cycle. The next important area would also be the 0.5 Fib-Retracement at ~USD42k
For TOTAL, it was the 0.382 Fib-Retracement in the last cycle before a bigger correction took place
The 0.382 Fib-Retracement will also be interesting for TOTAL this time around, which could be reached soon
In my view, the optimal crypto portfolio allocation is currently 70-80% in crypto assets and 20-30% in cash (The same applies to stocks portfolio)
If there is also a correction in this cycle before the next halving, then there is still powder left for a shopping spree
If we go up without a bigger correction, then the current allocation is also good enough to make very good profits in the bull market
Trade closed: target reached
TOTAL has now reached pre-halving 0.382 Fib-Retracement
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