BTC is exactly in the price region that I have been commenting on since the beginning of November in the channel and mainly in the 1% Community.
The base is $67k.
The next stage, where you rationally need to have cash to buy, is between the base of the previous top and the minimum of 2024 - between $49k and $58k.
No one knows exactly where the minimum will be and that should not be your concern.
Focus on strong accumulation zones and do what needs to be done 🤝
There are people NOW talking about a bear market in BTC.
Every drop is "dropped to continue rising." "Sideways or to continue rising."
We have been in a downtrend since the loss of the EMA50, and I talked about this in a video since the imminence of this happening, a few weeks after the peak and right after the fateful day 10/10.
Right after the confirmation of the loss of the bull market zone, most prefer to think that "this time is different" or look for other things to base themselves on, either out of interest (narrative) or the more obvious: denial.
This last one, in fact, is precisely the market phase we were in until now.
When even those who were in denial move to the panic phase, acting on impulse, it means we are getting closer to the end. The reset for the next wave of growth.
In this cycle, things seem to be happening even faster. And I personally prefer it that way.
Those with a strategy use the market's extremes to capture greater returns.
On Wednesday, I will have the honor of receiving this award, where thanks to the votes from the Community that supports me, I was among the top 20 globally for the biggest award in the crypto universe.
I am truly very grateful to all of you who trust in my work! Thank you 🙏
At some point, the altcoin market will turn, just like the $BTC
However, until that happens, the meltdown should continue. Here, I have significantly reduced the risk. Cash is high, waiting for a better moment to increase risk. And what about you?
The daily chart is terrible, the 50-week moving average has been broken, as well as the support.
After the initial break, the price frequently tests the moving average from below again. If the retest fails and the price cannot return above it, a more pronounced drop and a long-term downtrend should be expected.$BTC
With the end of the longest shutdown (halt in various segments of the government) in U.S. history, we will once again have relevant data for the markets regarding economic activity, such as employment data.
It is not the already anticipated end of the shutdown that affects asset prices, given that every expected event is already priced in, but the actual data, when it comes in above/below market expectations.
These data influence positively or negatively future interest rate decisions and movements in stock and crypto markets.
After 43 days of shutdown, everything begins to be gradually resumed.
When the teams return, there is a race against time to process the accumulated data. Historically, the BLS takes 7 to 14 days to publish delayed reports; in longer shutdowns, such as in 2018/19, some series were consolidated in the following month.
Many liquidations, whales sending crypto from wallets to exchanges in a clear sign of selling and pessimistic market sentiment after Powell's statement about the possibility of not cutting interest rates in December.
It was a bucket of cold water, taking the momentum out of the exchanges as well.
But where can the knife stop falling? The strongest support is in the range of $102-104k.
The bear market zone (major downward trend) at this moment is at $98k.
If BTC shakes during these hours, altcoins do much more. Be very careful with leverage, both ways. Volatility has returned.