I will just give 5 arguments that have historically turned into large sales and a medium-term bear market:
- There was an uptrend for exactly 6 months, with corrections, but globally it is 6 months of growth by one candle.
- At the moment, the momentum has slowed down and it is difficult for buyers to pass the 30,000 zone on the most bullish news.
- The Fed's rates are almost over, they are writing with might and main that the US economy is strong, strong funds are applying for an ETF-BTC, the meaning of which most traders simply do not know, but for them it is a signal to buy.
- The market capitalization lags far behind the Bitcoin price.
- USDT/USDC are collectively ready for growth, that is, assets will soon be massively converted into money.
I can't say at what price point Bitcoin will turn around and buyers will take the market in a vise. It can be 32500, or maybe 34-36 thousand for Bitcoin.
- There was an uptrend for exactly 6 months, with corrections, but globally it is 6 months of growth by one candle.
- At the moment, the momentum has slowed down and it is difficult for buyers to pass the 30,000 zone on the most bullish news.
- The Fed's rates are almost over, they are writing with might and main that the US economy is strong, strong funds are applying for an ETF-BTC, the meaning of which most traders simply do not know, but for them it is a signal to buy.
- The market capitalization lags far behind the Bitcoin price.
- USDT/USDC are collectively ready for growth, that is, assets will soon be massively converted into money.
I can't say at what price point Bitcoin will turn around and buyers will take the market in a vise. It can be 32500, or maybe 34-36 thousand for Bitcoin.
Note
Altcoin capitalization chart. We see a classic decline with a test of the resistance level in the capitalization of all altcoins. The value has been released under the block, tested and is ready to go below. This graph shows the value of all altcoins in monetary terms. It is much cleaner than the price chart of each altcoin.:The Bitcoin capitalization chart, cleared of altcoins and stems, which often provide resources. For implementation and reduction, there is not enough. That is, the final impulse that I am waiting for, formalizing and showing all my ideas and my analysis:
Note
According to the capitalization of BITCOIN, we are almost at the goalAnd the only bullish scenario that I admit is the overlap of the gap on the CME chart in the area of 35,000, this is 34,300 on a regular chart. That is, if the week closes above 32,400 on a regular chart, then I leave the probability that we will go to 34,300, but this is the most bullish forecast and the maximum that I allow.
In the case of a bullish scenario, we are still waiting for a return to the 20,000 zone.
Trade active
As you can see, everything is relevant, we are going to the zone with a set of shorts. I do not enter a trade on a limit order, I will wait for the movement to end, it will probably be higher than 32500.Note
Contrary to the expectations of many, the departure of Bitcoin below 29500 is the end of a 7-month uptrend. Now the final stage and the last impulse are underway. Corrections are unacceptable for a number of reasons. Therefore, all my analysis is relevant. I expect the entire cryptocurrency market to fall soon.Trade active
Trade active
Trade active
Trade active
Trade active
Trade active
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.