Chromia... Just Noticing... Bitcoin, The Altcoins & The Rest

7月2日

The correction might be over here, or might not be over; I don't know, this is not a trade idea for spotting an opportunity, I just want to make an observation.

Notice how Chromia's (CHRUSDT) correction after its peak in March (same as with the rest of the market), pushed prices to the same level as January 2024.

Many of the altcoins that produced a strong bullish wave, retraced to these same levels... When we look at Bitcoin, it has not retraced much, in fact, it is trading at the same price it was trading around March; the same month the bullish wave peak was hit.

This doesn't necessarily mean anything but it is indeed a market signal.
While a mega huge correction for Bitcoin can be doubtful by many, the Cryptocurrency market tends to be highly correlated and what one does, the rest tend to do exactly the same.

We can reach some conclusions based on what we are seeing... This data is just coming in; I will have much more as I go through hundreds of charts.

1) The altcoins are weaker and thus crash harder.
2) Bitcoin is yet to perform its full correction.
3) Bitcoin and the altcoins will detach.
4) etc.

These altcoins I am showing can still produce another low.
These altcoins can also go ahead and produce a mid-size wave before correcting to a higher low before a major bullish phase culminating in the 2025 massive new all-time high.

5) Bitcoin is so strong, that there is no way it is going to drop because the ETFs, the billionaires, etc., will protect retail and make them all rich.

This is another conclusion we can reach based on current data.

You know my perspective... Or you might not know, so I shall explain.
👉 Bitcoin is yet to complete its bearish wave.

The reason why it takes longer;
The reason why it will crash last; is because it is the biggest and has everybody's attention.

I mentioned many months back that the altcoins would bottom before Bitcoin.
When a prediction like this becomes true, it becomes a signal for us.

If such a statement made at random based on the charts becomes true, what other statements made at random based on massive amount of data coming from the charts will become true?

The truth is that the big projects need to go down for the smaller projects to go up, but why?

Because there is no money flowing in from new players, so the money already in needs to be used to push "the other side" of the market up.

Well, this is all just my speculative opinion; I can definitely be wrong... This is not financial advice.

I share only what I see and I appreciate you for taking the time to read.

Namaste.