End of the cycle? BTC short-term view

Hi, 1PERCENT here.

I have shared the following chart on my Korean account a few days ago, Mar 26th.

Since then, BTC did not take the range highs but directly got rejected by the red supply zone and is currently testing the mid range of the blue range.

It is a support zone where the price can hold. So I'm adding good-looking Alts such as XRP, and setting limit orders on others.

Otherwise, if we loose the red line, we will re-test the range lows, probably sweeping $59313.

HOWEVER, there is no surprise here from the market.

We are in a upward trend, but it is not a straight line duh.

Don't get liquidated, that's all.

评论:

BTC.D going up towards 57.3% as I suggested back in May 2023.

BTC Dominance going up means BTC taking more market share in the crypto market.

It could be either BTC going up harder than alts OR BTC bleeding less than alts.

评论:

BTC holding quite well TBH.

Loose the red line and we go to range low.
There, we can either
- Deviate and get back into the blue range -> long
- Go tap the support zone below $50-53K -> long

In between, R:R is not optimal for either sides.