It's been almost a week since this analysis, and $BTC is still right on schedule according to the deadline I set ♥️♥️♥️
Post
--Bearish
MinMin2k6
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PERSONAL VIEW:
$BTC is currently in a price range similar to June–July 2023. The only difference is that this time, the price is still far from the 200 MA and EMA. My view is that if the market moves sideways for 2–3 months, it will likely play out roughly as I’ve drawn. It’s unlikely to fall back below 50,000, unless it moves sideways for longer or the market gets very bad news—that would be a different story.
Since my view is that BTC will move sideways over the long term, this isn’t a great time to go long yet—unless you find coins that have accumulated deeply and finished testing, and could then take off (which fits the scenario for every alt season). If you’re holding shorts, you can DCA if BTC and the coins have a slight bounce; otherwise, just leave them alone. There’s no need to cut losses at this point. If you’re holding longs, watch for a bounce: if buying pressure is weak, exit and wait to re-enter; if it’s strong, take profits gradually according to your risk appetite (you never know, the coin might take off).
#Tuyệt Absolutely do not FOMO into a short by chasing the price right now—you could easily lose your capital and miss the chance to enter $ETH $BTC when the price is attractive.
Wishing you all a hugely profitable altcoin season ♥️♥️♥️
$BTC is currently in a price range similar to June–July 2023. The only difference is that this time, the price is still far from the 200 MA and EMA. My view is that if the market moves sideways for 2–3 months, it will likely play out roughly as I’ve drawn. It’s unlikely to fall back below 50,000, unless it moves sideways for longer or the market gets very bad news—that would be a different story.
Since my view is that BTC will move sideways over the long term, this isn’t a great time to go long yet—unless you find coins that have accumulated deeply and finished testing, and could then take off (which fits the scenario for every alt season). If you’re holding shorts, you can DCA if BTC and the coins have a slight bounce; otherwise, just leave them alone. There’s no need to cut losses at this point. If you’re holding longs, watch for a bounce: if buying pressure is weak, exit and wait to re-enter; if it’s strong, take profits gradually according to your risk appetite (you never know, the coin might take off).
#Tuyệt Absolutely do not FOMO into a short by chasing the price right now—you could easily lose your capital and miss the chance to enter $ETH $BTC when the price is attractive.
Wishing you all a hugely profitable altcoin season ♥️♥️♥️