A quick summary for investors who like to ride momentum or who like to buy dips.
The actual turning point and end of this correction:
1- The price of $60,000 is maintained.
2 - This week’s close should be with a low trading volume
3- The price exceeds $67,500.
This is the main condition for the completion of the correction
We are looking for a corrective bottom for the general context, which may be the bottom that I mentioned in previous posts using Wyckoff analysis.
Note: You should see that the decline that occurred after surpassing last week's high occurred with low trading volume as before, followed by heavy selling.
“So you should always expect something different to happen with regard to technical analysis, but what is the difference and why do I expect that this bottom may be the bottom that the market is looking for?"
▪️ At the present time, you are already in the re-accumulation area, and you know how you previously determined the location of the whales.
▪️ In addition to prices, I look for important news.
If you are looking at news of the war between Iran and Israel, in Iran’s first attack against Israel, the market quickly achieved a low bottom, but when Israel responded to Iran, the market maintained the first low.
This is a sign that the market is oversold.
▪️ I do not invest in $BTC .
I invest in ALT's, and you know that ALT's achieve their peaks and bottoms in a shorter time than Bitcoin, and most ALT's have formed second lows that are higher than the first, such as Bitcoin.
▪️ ALT's at a very low price, “It is under the annual opening, and you know this year and the following year is the actual date of the ALT's season.”
▪️ The average expected return until reaching the previous peak (the highest price of the previous 50 days) for the assets listed on @ICONOMI is more than 40%, and this is a very excellent percentage for looking at ALT's more closely.
▪️You must participate with the whales using the dollar cost averaging strategy, or wait for Bitcoin to exceed 67,500 before going and buying ALT's for momentum.
For me, I believe that this reduction in ALT's is the greatest reduction you will ever see, and the market is now preparing to rise soon.
You decide whether to buy this discount or wait for another discount that most likely will not happen.
If the market exceeds 60k, that will be the real and last spring, and the current specific spring will be a secondary test, and I will have been deceived by the market data.
