the correction of $BTC and the altcoin season
Updated
The official announcement of the launch of Altcoin Season
Returning to July 30\2021, after Bitcoin fell from ATH, it moved in an accumulate cross channel, during which it reached the June BOTTOM.
- At the end of July, it reached the channel’s resistance and tried for 4 days to penetrate it and failed in that and corrected about 38%.
-This coincided with the formation of the MA7 for the first time since the ATH is a higher high than a previous high.
-After this correction completely, Bitcoin started its ascent journey towards a new ATH
- Today we notice a movement that is completely identical to the price and MA7 as well??? We are facing a difficult resistance for the horizontal channel,,,,,,, I think that the 38% correction is coming and then we continue the rise towards ATH.
On the other hand, Ethereum on the same day was also facing an accumulating cross channel resistance
....also coinciding with ma7 forming a higher top than a previous high.
– Ethereum broke this resistance on the day that Bitcoin started correcting... Here, the liquidity withdrew from Bitcoin and headed towards the alternative currencies, announcing the beginning of the Alt-Foreclosure season.
-Gold corrected in the same period as well.
- I also noticed that the MACD is the same today and on July 30 in both Bitcoin and Ethereum
We are facing a Bitcoin correction and the official launch of the altcoin season.
Returning to July 30\2021, after Bitcoin fell from ATH, it moved in an accumulate cross channel, during which it reached the June BOTTOM.
- At the end of July, it reached the channel’s resistance and tried for 4 days to penetrate it and failed in that and corrected about 38%.
-This coincided with the formation of the MA7 for the first time since the ATH is a higher high than a previous high.
-After this correction completely, Bitcoin started its ascent journey towards a new ATH
- Today we notice a movement that is completely identical to the price and MA7 as well??? We are facing a difficult resistance for the horizontal channel,,,,,,, I think that the 38% correction is coming and then we continue the rise towards ATH.
On the other hand, Ethereum on the same day was also facing an accumulating cross channel resistance
– Ethereum broke this resistance on the day that Bitcoin started correcting... Here, the liquidity withdrew from Bitcoin and headed towards the alternative currencies, announcing the beginning of the Alt-Foreclosure season.
-Gold corrected in the same period as well.
- I also noticed that the MACD is the same today and on July 30 in both Bitcoin and Ethereum
We are facing a Bitcoin correction and the official launch of the altcoin season.
Note
the correction is 38 fibo....not 38% ..sry for that mistake
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