The situation in the cryptocurrency market is interesting, as the whole world is watching with fear how American banks are "cracking" - the BTCUSDT price is growing rapidly, and these altcoins are trying to keep up.
We described our main scenario of BTCUSDT price movement and the calendar of "important events" until April 2023 here:
Today we want to share with you our "wave analysis" estimations. The market is currently at a stage where there is a certain dissonance between the news background and price movements. Therefore, it should be clearly understood that now, and in principle always, we are trading "probabilities", the risks of which are controlled by stop orders!
The golden rule of trading: "The sooner you recognize your mistake, the less you will pay for it from your deposit."
Well:
We assume that the rapid growth of the BTCUSDT price requires correction. We assume that it is still possible for the BTC price to rise to $26790 today/tomorrow.
Then we can expect an equally rapid drop in the BTCUSD price, at least to $21000-21500. Accordingly, we will place the first pending orders to buy BTC and altcoins according to this assumption.
In our opinion, it is in the range of $21000-23000 that the trend of the crypto market price movement for April 2023 will be decided, but we will talk about this in our next ideas.
We are ready for a constructive discussion on wave analysis and the prospects of the crypto market in the comments below the idea. After all, it is in the discussion that the truth is born. _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
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Total crypto market capitalization is moving well in line with the fractal and has good prospects until 2025
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If you look at the global chart, the fractal tells us that it's time for a correction. A prolonged consolidation is also possible
As long as the price is at resistance. The important date is March 22, 2023. The Fed interest rate decision. This will affect all markets, including the cryptocurrency market.
P_S_trade
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@SpartaBTC, Yes, you're right. And my gut feeling is that the FED will surprise everyone with its decision)
Arman-ilyas
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You should watch below and check the accuracy
thepivels
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Simple and effective but most of all I appreciate your humility. As you said we are trading "probabilities". The best we can do is put the odds in our favor. (Personally I've never seen such a hard time to trade crypto market like last week - so many violent swings both ways, so better to stay out of the game or as my mentor say "Not trading is also a trade")
P_S_trade
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@thepivels, Thank you for your comment. Your mentor is absolutely right: sitting without a position is perhaps the most difficult position
There is an issue though... If BTC is strong "as gold", which was seen after the bank crisis, why alt-coins are increasing with BTC, aren't alt-coins supported by startups and corporations that have bank accounts ❓
Iam amazed how alt-coins held strong in the bank crisis, it is unbelievable
That is a possible scenario; thanks for sharing.
My analyze,