The time has come when all the investors who bought bitcoin at $69,000 will be able to sleep peacefully. But what will happen after the historical high is updated?
To begin with, there is a good chance that bitcoin will continue to grow without correction or even consolidation.
The result will be a renewal of historical highs. This is evidenced by the dominance of USDT, which shows the prospect of a drop to 3.7-3.9%:
In addition, the focus on bitcoin is further confirmed by the growth of its dominance:
After updating the historical highs, we expect a sharp impulse to fall in the range of $57700-60000. If the upward wave is not complete, the BTC price should not fall and consolidate below this range.
For us, the range of $57700-60000 is a critical point for determining a new medium-term trend in the market. If buyers hold this range, we will consider a long position in altcoins in the medium term.
If the BTC price breaks through this range without any problems and stops in the range of 50000-52000, we will look for entries into short positions during a new local growth wave:
Another question is what will happen to altcoins at this time!
However, this is another story. First, let's see how this forecast will work out.
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The crypto fear and greed index reached 90! It was higher only at the end of 2020-2021 = 95 Is everything going according to plan? Do we continue to grow along with greed or is it time for a correction?
It is very likely that today "buyers" will want to knock out the stops of the short positions that were taken yesterday on panic. Therefore, a sharp rise to 70k+ is more than realistic. Be careful, the market is strong - this is not the time for shorts.
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What do you think, what past year's cycle and dynamics can CRYPTOCAP:BTC price repeat in 2024?
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BTC price reached NEW ATH ✅ AGAIN!!!
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CRYPTOCAP:BTC price reached NEW ATH ✅ AGAIN!! We will soon write our thoughts for this week
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We don't feel comfortable taking longs without correction.
I remember the rapid and sharp drop from SWB:69K to 40k at the end of 2021.
Yes, now is a different time, a different market situation, but...
I would like to see at least a correction to $58 thousand. And then it will be seen where next: to $78 thousand or $40 thousand.
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On March 12-13, 2020 (4 years have passed, but the clock is ticking very quick), one of the most epic falls in the crypto market, and in all financial markets in general, took place due to the official start of COVID-19.
At that time, the BTCUSDT price dropped -50% in just one day. It's hard to put into words what was happening with altcoins at the time. But it's okay: we survived, we survived, we gained experience and scars)
Yes, today the situation on the crypto market is different, there is a different phase of the market, new players and information fakes, but... Without a more or less thorough correction, we personally do not feel comfortable taking longs.
But pending limit buy orders, somewhere low and very low, is always a good idea.
BTCUSDT price is on the verge of a foul. Which scenario will you choose: blue to 78k or red at 63k
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It seems that FWB:65K will be an intermediate target for CRYPTOCAP:BTC price, "the defense" is being built around 63k
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CRYPTOCAP:BTC price has dropped to 65k, with a little bit more to go to 63k Altcoins are falling moderately to aggressively.
Trade active
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2. $63000 - done ✅ Next - a rebound or do we go straight to point 3? " 3. All is lost - this is only the beginning of a large and deep correction of the crypto market!"
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Write in the comments which altcoin (ETH, SOL, AVAX.... etc..) analysis from us is most relevant and interesting to you now. You have 3 hours to comment and vote, and then we will publish a new idea with our thoughts on the winning altcoin.
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1. CRYPTOCAP:BTC = 65300 and a rebound upwards - done ✅ 2. #BTC📷 = 63100 and a rebound to the upside - done ✅ 3. Final question: #BTCUSDT correction is over and this is the beginning of growth to 78k or another "dive" to the $58-59k area
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The white scenario of the #BTCUSDT price movement, what we published 4 days ago works very well Do you believe that the CRYPTOCAP:BTC price will soon reach 78k?
Appreciate your hard work, precise analysis and always backed with hard work and info. Respect brother!
P_S_trade
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@FX_Professor, Thank you, it's a pleasure to read such comments from time-honored authors.
MOQAMR
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crv & waves (usdt)
P_S_trade
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@MOQAMR, It's cool, the CRV idea hasn't been done for a long time And now you are the only ones who responded)
Mihai_Iacob
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Only today I saw the analysis, spot on. Great job. Same idea, bulls needs to keep 60k intact. Now the price is 10% above, so pretty safe. Congrats! Again for initial analysis
it's a NEW WORLD! Enslaved people are waking up, and this decade inflation cycle just came real handy... when people see all of their savings being ROBBED by the central banks, and their dreams shattered with prices 30% up, well, even the blinds will see the light!...
@marcolopes, ehhh lots people I know will just blame crypto as the next problem lol... now it's crypto's fault all of this is happening! put your own mask on first, help others next