The idea is simple. Bitcoin is in macro distribution phase. 58k potential support. Bullish on alts.
Nota
This was ETH. Is it similar? Tbh it was much better.Nota
This is a reason to be careful even about good looking alts. Again, no rush to buy the dips.Nota
I've expressed my discomfort about ETH's outlook a few time before and now it stands as a real problem. Let's see how the market deals with it. Same for BTC but I don't care about it tbh.Nota
Maybe it's more similar to May '21...Nota
Anyway key idea is slowly buying dips on good charts is alright but just let the market bottom.Nota
These are not bottoms. Simple. Assuming bottom is close easy but you need to see it.Nota
I'm aware A LOT of people are already all-in :D Well, need for de-risking was obvious. I think if you are in that position, it's not late to reduce your risk.Nota
Now, does it look like a bottom. Yeah maybe. I just wanna see a break of the downtrend at least. Exhausted trend continues as expected, it seems like.Nota
If ETH and BTC starts pumping to new highs like in a week, it will be a pretty good sign for me that it's over. ETH can go much higher but the real action will be in "shitcoins".Nota
Aka others.
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