BTCUSD

"Bitcoin (BTC) is currently positioned for an upward push, with targets set at $48,000 and even as high as $50,440. This optimistic forecast is largely driven by the anticipation of ETF news. Historically, each Bitcoin cycle demonstrates a pattern: after reaching a bottom, Bitcoin typically recovers to the 0.786 Fibonacci retracement level. Following this recovery, it often undergoes a backtest of support, a form of correction, before initiating the next surge to test its previous highs. This pattern is clearly visible in the accompanying chart.

An additional factor to consider is the timing of the ETF news, which coincides with a key resistance level, adding an interesting dynamic to the market analysis.

#BTC VS USDT dominance. Obvious setup. Gave us a nice prediction BTC bottom

Important Trading Caution:

A period of heightened caution is recommended for all trading activities from January 10 to January 24. During this timeframe, traders should be particularly vigilant due to the potential for increased market volatility and other external influences that could impact market dynamics."

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BTC phase

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Bitcoin's Current Status

Key Highlights

• Bitcoin's Price Milestone: Bitcoin has reached the anticipated 48k-50k level as previously predicted.
  
• Market Reaction: There has been a significant rejection at this level, aligning with expectations.
  
• Trend Analysis: Despite this rejection, the daily trend for Bitcoin remains intact.
  

Focus on Altcoins: Given that the Bitcoin trend is still intact without major breakdowns, the primary focus shifts to altcoins.

Altcoin Strategy Amid Bitcoin Resistance
Key Idea: Exploring the rationale behind buying altcoins while Bitcoin faces resistance.

Opportunity in Dips: Highlighting that as long as Bitcoin does not create new lower lows, each dip could represent a lucrative buying opportunity.

Ethereum as a Market Indicator: Observing Ethereum's performance as a potential signal for the general trend in altcoin markets.

Strategic Scenarios:chart below

• Divergence in Market Movement: Considering a situation where Bitcoin establishes a lower low, but altcoins do not mirror this movement. This could lead to a substantial rally in altcoins.
  
• Tactical Approach: Strategy to capitalize profits once Bitcoin reaches the 0.702 Fibonacci retracement level, followed by a re-entry into Bitcoin at the next support level.
  

Example

example 2

Key Points to Monitor in Altcoins

• Market Response to Bitcoin's Movement: Observe how different altcoins react to Bitcoin's current position and rejection at the 48k-50k level.
  
• Trend Strength in Individual Altcoins: Identify altcoins showing strong independent trends or those less impacted by Bitcoin's current volatility.
  
• Entry and Exit Points: Look for favorable entry points in altcoins, considering the market dynamics and potential for growth independent of Bitcoin's movement.
  
• Diversification Strategy: Maintain a diversified portfolio to mitigate risks associated with Bitcoin's fluctuations impacting the altcoin market.
  
• Short-Term vs Long-Term Potential: Distinguish between altcoins with short-term trading potential versus those with more sustainable, long-term growth prospects.
  
• Conclusion and Forward-Looking Statements
  
• Continued Monitoring: It’s crucial to keep a close eye on both Bitcoin's movements and altcoin trends.
  

Adaptability: Be prepared to adjust the investment strategy as the market evolves, particularly in response to any significant changes in Bitcoin's trend.

To finish it off his another scenario i am looking as long bitcoin keep the trend.! unlikely scenario

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The last scenario only comes probable (likely) if bitcoin manages to close weekly above $50400 until then, keep the first scenario in mind

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Nothing to add here, following the plan!

Watch weekly BTC RSI trend