BTC’s 3-day chart has formed a death cross, but instead of triggering a sharp sell-off, it has continued to move in a wide range, hunting liquidity on both sides and using volatility and time to rotate high-level positions.
Altcoins are playing out differently this time: the premise that BTC would consolidate while altcoins rallied first no longer holds, so altcoins are genuinely falling. $UNI is down nearly 40% from its recent high, while $HYPE is down nearly 20%. Technically, this looks like a 3-day-chart correction that could even extend to the weekly chart. A shakeout like this ahead of the main rally makes sense: previous gains had run too far ahead, and the major players need a brutal shakeout to reclaim those positions.
If BTC continues to trade in a wide range and the altcoin correction extends to the weekly chart, the current pullback may only be one-third complete. If it doesn’t extend, then at least half of the correction is likely behind us. Either way, October is a month for corrections, discounts, and adding to positions.
Accumulate alongside the major players. Don’t obsess over catching the exact bottom—capturing the main rally is the most important thing right now.
#BTC #UNI #HYPE
Altcoins are playing out differently this time: the premise that BTC would consolidate while altcoins rallied first no longer holds, so altcoins are genuinely falling. $UNI is down nearly 40% from its recent high, while $HYPE is down nearly 20%. Technically, this looks like a 3-day-chart correction that could even extend to the weekly chart. A shakeout like this ahead of the main rally makes sense: previous gains had run too far ahead, and the major players need a brutal shakeout to reclaim those positions.
If BTC continues to trade in a wide range and the altcoin correction extends to the weekly chart, the current pullback may only be one-third complete. If it doesn’t extend, then at least half of the correction is likely behind us. Either way, October is a month for corrections, discounts, and adding to positions.
Accumulate alongside the major players. Don’t obsess over catching the exact bottom—capturing the main rally is the most important thing right now.
#BTC #UNI #HYPE