The monthly close at 0:00 tonight UK time will decide whether we print a gravestone doji, shooting star, or something that means BTC continues on its bullrun...
I think we are all feeling alt season is at least starting its engine, but after a small dump, if BTC ranges for a few weeks, that will give everyone time to get into the chaos of alts before BTC takes off... I would prefer this (more long lived for the asset class and greater long term gains for the best alts). This I think would take us into a bullrun to last the year (watch out New Years day 2022!!)
Or its equally possible BTC will launch on sentiment and current support from billionaires and institutions, in which case, alts dump one last time before they shoot skywards.. In my opinion that would be a less stable step forwards, and I would expect a blow-off top pretty soon, where all but the most vigilant will get rekt when we do crash.
I'm not a trading expert - just one minnow's take on the big scene.... but if it helps I'm glad. And if I'm right I'm gonna be fine.
I think we are all feeling alt season is at least starting its engine, but after a small dump, if BTC ranges for a few weeks, that will give everyone time to get into the chaos of alts before BTC takes off... I would prefer this (more long lived for the asset class and greater long term gains for the best alts). This I think would take us into a bullrun to last the year (watch out New Years day 2022!!)
Or its equally possible BTC will launch on sentiment and current support from billionaires and institutions, in which case, alts dump one last time before they shoot skywards.. In my opinion that would be a less stable step forwards, and I would expect a blow-off top pretty soon, where all but the most vigilant will get rekt when we do crash.
I'm not a trading expert - just one minnow's take on the big scene.... but if it helps I'm glad. And if I'm right I'm gonna be fine.