We’re starting the week with a VERY important signal from the P73 CryptoMarket Monitor. This is a signal of a potentially strong correction that could begin within the “window” of September 28 to October 18. AT THE SAME TIME, within this “window” the market may still continue to rise, and that will not break the signal. It’s important to watch for signs of weakness in the uptrend. While BTC is in a stable downtrend on the 3-hour timeframe (and it is in it), we consider that this correction has already started. Against the backdrop of other past signals by extremes.
The Monitor received a huge number of signals, which is why by the time the report was supposed to go out at 03:09 minutes, not all the data had been collected and the report went out with errors. As a result, we’ve just rebuilt it manually. So this post will also be very useful for Monitor subscribers: in the Monitor channel, go back to the night post and review the updated data. All details for all assets are available. And here in the post, as always, there’s a trimmed version without the asset list, but with the overall numbers.
By the way, we’re currently, after moving to a new, more powerful server, working on solving this problem and have gotten very close to it. Moreover, we’re rebuilding the entire code architecture so that data gets calculated and delivered earlier, instead of at the standard xx:09 minutes of each hour. The entire Monitor system is now actively being rebuilt for the next step - a Telegram bot with a mini-App and a subscriber’s personal dashboard.
Now let’s get to the forecast and signals. The Monitor issued two CLEARLY BEARISH auto-forecasts:
❗️FORECAST: ATTENTION - a high probability of a noticeable correction and a short-/medium-term decline in the crypto market, starting within the next few days. During this time, the high may still be updated.
❗️FORECAST: ATTENTION - a high probability of a reversal downwards and a long-term correction of the crypto market, starting within the next three weeks. During this time, the high may still be updated.
Reason: labels of potential HIGH on the weekly timeframe for BTC and a large number of assets.
Can these forecasts be broken? They can, but in practice this kind of thing breaks only during a full bull run within a bull market. And before that, in theory, it’s still too early - the market has only just turned bullish. Therefore, our priority scenario is that these forecasts will play out and in the window from September 28 to October 18 there will be a reversal into a strong and prolonged correction. We wouldn’t be surprised if it continues until the end of autumn.
Significant indicator signals from the analysis of TOP-200 crypto assets (because of which the bearish auto-forecasts were given):
- 22 assets showed labels of potential highs on the 12-hour timeframe,
- 41 assets (including BTC) showed labels of potential highs on the weekly timeframe; this is VERY much,
- 9 assets showed Strong signal labels of potential highs on the weekly timeframe.
IN THIS CASE:
- another 9 assets moved into a stable uptrend on the 3-day timeframe,
- another 13 assets moved into a stable uptrend on the weekly timeframe.
THEREFORE, we consider the correction that is already happening / is about to happen specifically as a correction before the continuation of the bull market, not the continuation of the bear market. And we believe that buying into it (if they give it and it happens) is possible and necessary; it could turn out to be the last opportunity before a VERY strong upward move for the entire market. In this likely correction, in particular, we’re preparing to accumulate spot positions in the co-pi portfolios that were discussed and announced in the last few weeks.