$BTC is starting to create a cause zone, but there is no super-current factor to trigger a new cycle. Avoid FOMO during this period!
After accumulating and collecting goods for more than 20 days, BTC has begun to complete the stages of creating a bottom to collect goods, shaking off individual investors using the WICKOFF method to enter a new cycle, moving straight to the 71k zone. But the most important condition is the cash flow factor to confirm that institutional cash flow has started to enter, pushing up the BTC price has not appeared yet, shown in the volume in the 61k - 62k zone, there is no sign of a sudden change similar to the session on August 5, 2024.
So with the demand pushing BTC price continuously in the past few days, the most likely scenario is that organizations continue to collect goods in the 58-60k area to wait for other institutional investors to see the signal of mobilizing cash flow and if there is really a large demand coming in, the price pushing process will begin at that time we can start to go to the market to buy altcoins that are stronger than BTC and according to WICKOFF, if altcoins enter the price pushing phase (phase E), they will be stronger than BTC in phase D (like $AAVE in the current phase is in phase BU stronger than BTC in phase LPS in phase D) or if more positive, there will be an ecosystem wave like the meme wave on February 26, 2024 but currently there has not been any ecosystem with a simultaneous process of collecting goods like the meme wave 2024. Conclusion: today BTC is only hovering around the 59-60k area to accumulate and collect goods waiting for other organizations to put money in, so 90% of the Other altcoins also mostly fluctuate low following BTC.
During this period, you should limit long and short because there will not be a high R:R ratio but you will have to wait, lose transaction fees, and funding in this 50:50 market!
