Here's a quick comparison of two periods in bitcoins history It appears that the current market period is unfolding similarly to the one observed in 2021. If this trend continues, it is likely that the market will experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. Trade safe!! ------------------------------------------- About our trades: Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!) . Our TradingView page serves as a testament to this claim, and we invite you to verify it!
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BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
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Now it looks even more like 2021! We are porbably heading towards a bearish summer!
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Expecting a bearish week!
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A big move is coming! Hold tight! if 27k cant be held, then its gonna go down hard!
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Bearish monthly close coming!
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Thoughts on the market
Current market conditions suggests that many altcoins are exhibiting a bearish outlook, with a considerable number of them having breached their BTC-pair support levels. This indicates that in the event of another drop in BTC prices, altcoins are likely to suffer significant losses. It is my projection that a decline of at least 50-70% in altcoins may occur prior to August. I maintain a highly bearish stance regarding the upcoming summer period, which seems to resemble the summer period of 2021.
Regarding Bitcoin, it is possible that it may soon reach 25k so trade safe
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Some thoughts It has been observed that the BTC dominance index tends to increase alongside the BTC/USD price, which has been a notable trend in the market. However, the shift to a scenario where the dominance index rises while the BTC/USD rate drops marks a critical point in the altcoin reckoning process. In such a situation, altcoins may face significant losses in both directions, resulting in a challenging market environment for these assets.
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Wallets belonging to Mt Gox and US government are making transactions.
Bitcoin dumping!
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The bear market probability index is at a All time high!
In my opinion, the ongoing rally could be considered as the biggest bull trap ever witnessed in the history of Bitcoin. I am currently observing from a passive position and anticipating a decrease in prices. Undoubtedly, relying on a solitary model is insufficient for drawing definitive conclusions. In fact, in this case numerous indicators suggest a downward trend in prices!
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I bring up the S&P 500 because of how closely the asset correlates with Bitcoin. Since BTC typically moves in lockstep with S&P500, it can be prudent to monitor the S&P500 movement.
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The market is waiting for some big news it can react to! We do not expect bullish news that would cause a bull run—expecting some big bearish news!
@az313bnd yea that’s indeed possible. In my opinion we gonna see at least 12k at some point🔥
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@MJI786, i wish to test this hypothesis. what about the insti demand around the 20k, 23.5k levels? do these support levels get bought up? sans a complete collapse from some place.. and then there is the 15, 16k previous lows that some say we already seen the lows of the beer mkt.