I can see Jan being a cool down/ final accumulatory month where market catches its breath after last 3 months of marking up and prepares for what's next, but to think that there will be meaningful move to downside (having already decreased 20+% on many alts) is wrong imo
If you subscribe to the notion that market topped April 2021, we've had exact same amount of time capitulation as last cycle
We also had first monthly close atop first quarter retracement of previous cycle's high to low, which was the end of accumulation phase in previous cycle
Question is will we see a deviation beneath first quarter (like last cycle's) OR is this simple backtest of first quarter as support sufficient?
So long as continues to close above first quarter you have to remain biased towards the latter.
tl;dr downside is extremely limited, upside is 10x+ total brypto market cap, excluding btc; don't lose sight of bigger picture
If you subscribe to the notion that market topped April 2021, we've had exact same amount of time capitulation as last cycle
We also had first monthly close atop first quarter retracement of previous cycle's high to low, which was the end of accumulation phase in previous cycle
Question is will we see a deviation beneath first quarter (like last cycle's) OR is this simple backtest of first quarter as support sufficient?
So long as continues to close above first quarter you have to remain biased towards the latter.
tl;dr downside is extremely limited, upside is 10x+ total brypto market cap, excluding btc; don't lose sight of bigger picture