A Possible Scenario for BTC - Upward Sideways Chop next 3 Mo.
The scenario drawn where BTC trades inside the parallel channel (drawn) but below the golden lower cone line which is a line that has connected several important candles since Oct 2020 is a very plausible scenario for BTC.
I fully believe weak hands are being shaken out to the max here - there is no reason at all to panic considering we've had 6 GREEN monthly candles! The record is 7 Monthly Green candles - it's time for 1 small red candle in the middle of the bull run - in fact it's extremely healthy to continue the bull run structure.
Altcoin Season
Knowing that if this scenario plays out where BTC dominance continues to wane and BTC's price trades sideways but slightly up - this is an EXTREMELY Bullish scenario for altcoins - my #1 recommended altcoin buy at this moment is UNI, then LINK, then maybe DOT or ETH.
The last time BTC traded sideways like this in 2017, altcoins began to explode higher and this time is likely no different.
Read my latest chart on UNI
I fully believe weak hands are being shaken out to the max here - there is no reason at all to panic considering we've had 6 GREEN monthly candles! The record is 7 Monthly Green candles - it's time for 1 small red candle in the middle of the bull run - in fact it's extremely healthy to continue the bull run structure.
Altcoin Season
Knowing that if this scenario plays out where BTC dominance continues to wane and BTC's price trades sideways but slightly up - this is an EXTREMELY Bullish scenario for altcoins - my #1 recommended altcoin buy at this moment is UNI, then LINK, then maybe DOT or ETH.
The last time BTC traded sideways like this in 2017, altcoins began to explode higher and this time is likely no different.
Read my latest chart on UNI
Comment:
We're still in my channel while 100% of traders are telling you we can ONLY go up or down... NO! Sorry - there is a 3rd option - don't be myopic in your thinking.