We just completed a third market correction in BTC for this bull cycle. Seems it's the new norm. Used to have 30-40% corrections before the ETFs launched. Now we're lucky to get even 22%, but that's fine. A short-term dip can present the buy opportunity that many need right now, those who were sitting on the fence, hoping for a drop to the 50k region. They better...
Looking at the price action in SOL, it seems to me that the rally is coming to an end (for now) in the short term. Price-volume and Price-RSI are both in bearish divergence so I'm expecting a pullback and correction very soon. It's imminent.
BSV seems to be coming out of its "Capitulation" phase at last. It is on the brink of breaking out in the aftermath of this cup and handle formation that it's printing in the BSV/BTC pair and I feel that a huge pump is due in the near future, which makes this a great accumulation zone for me. This is a projection for the next 3-6 months, not an immediate pump, but...
We just broke out of the wedge pattern we were forming over the last few days and I see a bullish scenario forming. This is a breakout that was expected, now I feel we need to correct a little, test the support and then do another leg up. This should play out in the next few days, taking us to the end of the month.
As soon as we break out, I expect to challenge the 2100 level, then a short consolidation period, followed by another push to the second target and in the longer term, targets 3 and 4 are due. These are determined by Fib levels from the latest correction we experienced.