On Friday $BTC , after a surge that sent prices soaring, the weekend was originally supposed to be a consolidation and dip—i.e., a “digest + consolidate” pattern.
But as a result of last night’s announcement from Strive CEO about a recent plan to make a large purchase of BTC, along with MicroStrategy implying that it has already resumed adding to its position, BTC stopped falling and quickly returned to 81,000.
After most of last week’s bearish news had been exhausted, funds finally dared to enter. Coupled with the CFTC rule draft and the SEC’s innovation exemption continuing to pave the way at the regulatory level, this week is likely to be a “bad news fades, good news follows” kind of move.
During last week’s BTC pullback, altcoins exploded upward. The $ZEC RSI pushed up to 75, and $UNI 77 and ARB 75… fully detonated this altcoin season. Now the altcoin season index has already returned to 75, so this week is likely to see altcoin rotation and divergence.
However, it’s not recommended to chase tokens that have already run up. The RSI suggests a pullback could happen at any time—so you may want to keep an eye on the next set of tokens that have solid logic but are lagging.
But as a result of last night’s announcement from Strive CEO about a recent plan to make a large purchase of BTC, along with MicroStrategy implying that it has already resumed adding to its position, BTC stopped falling and quickly returned to 81,000.
After most of last week’s bearish news had been exhausted, funds finally dared to enter. Coupled with the CFTC rule draft and the SEC’s innovation exemption continuing to pave the way at the regulatory level, this week is likely to be a “bad news fades, good news follows” kind of move.
During last week’s BTC pullback, altcoins exploded upward. The $ZEC RSI pushed up to 75, and $UNI 77 and ARB 75… fully detonated this altcoin season. Now the altcoin season index has already returned to 75, so this week is likely to see altcoin rotation and divergence.
However, it’s not recommended to chase tokens that have already run up. The RSI suggests a pullback could happen at any time—so you may want to keep an eye on the next set of tokens that have solid logic but are lagging.
