Bitcoin's Correction Is Not Over! 40K Is Not The Bottom!
Updated
Money flowing out of Bitcoin will flow to the Altcoins?
How are you feeling today my dear reader?
I am hoping you are having a wonderful week.
Just as a friendly reminder, Bitcoin's correction is not yet over and $40,000 is likely NOT the bottom of this corrective phase.
How low it truly goes it is an open ended question but it is something that will surprise most participants, as usual.
Why would Bitcoin move lower?
Why not 100K?
The market moves in cycles and it tends to seek balance.
A prolonged bullish wave, 16 months, is matched by a strong correction.
It is just the way it works.
This is normal market action and this should not discourage anybody... We are full green for 2025 and the only troublesome period is between now and October.
The "trouble" period for Bitcoin is August 2024 and September 2024.
October 2024, November 2024 and December 2024 is neutral and recovery.
January 2025 and February 2025, is back to high prices and green. Then we will see massive growth in 2025 until we hit a new All-Time High of around $190,000. More or less.
Hold strong throughout the correction.
Consider the altcoins. Many hit bottom. It is wise to buy those trading low and sell those trading high. Trading 101. Simplicity is key.
Feel free to leave a comment if you have any questions.
Namaste.
How are you feeling today my dear reader?
I am hoping you are having a wonderful week.
Just as a friendly reminder, Bitcoin's correction is not yet over and $40,000 is likely NOT the bottom of this corrective phase.
How low it truly goes it is an open ended question but it is something that will surprise most participants, as usual.
Why would Bitcoin move lower?
Why not 100K?
The market moves in cycles and it tends to seek balance.
A prolonged bullish wave, 16 months, is matched by a strong correction.
It is just the way it works.
This is normal market action and this should not discourage anybody... We are full green for 2025 and the only troublesome period is between now and October.
The "trouble" period for Bitcoin is August 2024 and September 2024.
October 2024, November 2024 and December 2024 is neutral and recovery.
January 2025 and February 2025, is back to high prices and green. Then we will see massive growth in 2025 until we hit a new All-Time High of around $190,000. More or less.
Hold strong throughout the correction.
Consider the altcoins. Many hit bottom. It is wise to buy those trading low and sell those trading high. Trading 101. Simplicity is key.
Feel free to leave a comment if you have any questions.
Namaste.
Note
Focus on the altcoins!
The altcoins hit bottom and are growing NOW!
(mid-size to small cap. ones. The big ones are also sideways with Bitcoin.)
Bitcoin will follow later.
I will be posting here as soon as Bitcoin give the signals.
We have four months left in 2024. We have some time.
(We are bullish now!)
➢ When Bitcoin goes sideways, the altcoins grow massively... This is happening now!
This is a friendly reminder.
Focus on the altcoins!
Namaste.
Note
Traders lose the most money when the market is rangebound, sideways.
Bitcoin has been sideways for a while and it is likely to do so for as long as it is necessary for the Altcoins to recover.
If Bitcoin were to produce its next leg-down without allowing time for the altcoins to recover, it would be too damaging for the market.
So Bitcoin sideways is activated and the whales start to "pimp" the altcoins.
People will eventually figure out that the altcoins are growing and all the attention will go there. By now, everybody is already conditioned that Bitcoin cannot drop because it has been almost 6 months yet prices stay the same. With the attention on the altcoins...
There was indeed a crash to $49,000 and this from a high of $74,000 but people cannot compute these things. The next leg-down is a lower low based on simple market dynamics.
Notice how there is always a very strong rejection below 62K. It used to be 70K but now it is lower... This dynamic will continue but first, Bitcoin sideways.
The altcoins can grow in a matter of weeks, specially when you see pairs growing 500% in a few days.
Bitcoins drop will result in a marketwide panic, initially, but these altcoins we are sharing now will recover so fast and the same day. The bigger projects will enter a long consolidation phase, the smaller ones will be on a strong bullish wave just like the big ones did late 2023/early 2024.
It is a complex game, it is wide but it can be understood if one looks at it deep enough.
I am doing my job. I read the charts.
What about you?
Time will tell who is right and who is wrong!
Meanwhile, the altcoins are going up.
Namaste.
Note
Nvidia and SPX are turning bearish, you know what this means for Bitcoin; bearish as well.
Nvidia is set to start crashing next week... The SPX, I don't know, but it is also ending its bounce today. So down we go on these two. These markets are highly correlated.
Note
While there will be a recovery, for sure, prepare for a major, major crash.
It is not just a "correction," it is world history in the making. The biggest development in maybe 8-9 decades.
Trade active
The Altcoins, many, are growing as expected. Those altcoins vs bitcoin pairs that already hit bottom, trading low, are now moving bullish while Bitcoin hit its lowest price in more than a month. All as predicted.
After the correction is over, everything will grow.
Many Altcoins are growing now... Thanks a lot for your support.
Namaste.
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