BTC 12h Correction is not over yet more in the idea description
Updated
If you've been following us for a long time, you know that we run a whole series of "Bitcoin weekend" ideas. If you have just started following our thoughts, you can see our ideas for coins of interest to you in our profile via search.
Below is a chart how working of our "Bitcoin Weekend #17" idea that we published almost a month ago.
It seems that it is difficult to think about a clearer working out, the price of BTCUSDT has fixed the local maximum of $52900 (in the middle of the zone, which we noted), and then a 2-3 hours fall, greatly spoiled the mood and deposits of margin traders. The value of Bitcoin collapsed by -20%, and alts by -30-40%, and in some cases even more.
Since the mini fractal topic work good last time, let's continue in the same vein)
Today we would like to present to your attention one more minifractal with the working timeframe of +/- 3 weeks.
This development clearly fits the projected global alternative scenario for BTC, which we published 3.5 months ago:
This mini-fractal on the chart indicates that the BTCUSD price may fall to $42250.
Aggressive buying off by buyers in the possible fall will indicate that further working out of the fractal, namely, further growth to $52000 is very, very possible to begin with.
With Bitcoin sorted out, let's have two more words about a possible scenario for the altcoins.
What will happen to the altcoins in this period? — interesting question … We think, that they will fall harder than BTC, so every viola should be considered individually.
As long as the BTC dominance is on the downside, the alts feel good. But, if BTC dominance starts to rise as shown in the chart below, the capital may start to flow from the alts to Bitcoin, and the "decorrelation" will start: the BTCUSDT price will rise, but the price of viols will fall... and only some alts might shoot up from time to time.
There is a cool saying: You can't make all the money, you can only lose all the money!
Therefore, you should be careful with alts. It's better to follow them for a longer time, understand their mood and price trend, and make little less money on them. Than to take a position and then sit in a drawdown for 6-12 months (if you do not use stops) and telling yourself that you are a long-term venture capitalist :)
_____________________
Do you like the idea fulfilment? Does it help you trade and make a profit?
Do you want more forecasts from us?
Give us motivation! (Like, comment and donate). These little things won't make us rich, but they will warm the trader's soul while writing the next idea!
Below is a chart how working of our "Bitcoin Weekend #17" idea that we published almost a month ago.
It seems that it is difficult to think about a clearer working out, the price of BTCUSDT has fixed the local maximum of $52900 (in the middle of the zone, which we noted), and then a 2-3 hours fall, greatly spoiled the mood and deposits of margin traders. The value of Bitcoin collapsed by -20%, and alts by -30-40%, and in some cases even more.
Since the mini fractal topic work good last time, let's continue in the same vein)
Today we would like to present to your attention one more minifractal with the working timeframe of +/- 3 weeks.
This development clearly fits the projected global alternative scenario for BTC, which we published 3.5 months ago:
This mini-fractal on the chart indicates that the BTCUSD price may fall to $42250.
Aggressive buying off by buyers in the possible fall will indicate that further working out of the fractal, namely, further growth to $52000 is very, very possible to begin with.
With Bitcoin sorted out, let's have two more words about a possible scenario for the altcoins.
What will happen to the altcoins in this period? — interesting question … We think, that they will fall harder than BTC, so every viola should be considered individually.
As long as the BTC dominance is on the downside, the alts feel good. But, if BTC dominance starts to rise as shown in the chart below, the capital may start to flow from the alts to Bitcoin, and the "decorrelation" will start: the BTCUSDT price will rise, but the price of viols will fall... and only some alts might shoot up from time to time.
There is a cool saying: You can't make all the money, you can only lose all the money!
Therefore, you should be careful with alts. It's better to follow them for a longer time, understand their mood and price trend, and make little less money on them. Than to take a position and then sit in a drawdown for 6-12 months (if you do not use stops) and telling yourself that you are a long-term venture capitalist :)
_____________________
Do you like the idea fulfilment? Does it help you trade and make a profit?
Do you want more forecasts from us?
Give us motivation! (Like, comment and donate). These little things won't make us rich, but they will warm the trader's soul while writing the next idea!
Trade closed: target reached
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okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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