Bitcoin Euphoria: Correction Ahead?

17 dic 2024

BamBooChain 🎋⛓️

Good morning, friends! Let's discuss the current market situation. After reaching a new all-time high of around $108,000, Bitcoin is showing signs of a potential correction.

Technically, we're in an interesting situation: the market has reached the extreme euphoria zone I mentioned earlier. RSI and MACD indicators are showing signs of divergence, which often precedes corrective movements.

Key points:

• Trading volumes are decreasing while price is rising, creating potential divergence
  
• Funding remains relatively neutral, indicating balanced positions
  
• Long-term holders aren't taking significant profits yet
  

Possible scenarios:

1. Consolidation in the $100,000-108,000 range
   
2. Correction to $88,000-92,000 levels (this would be a healthy 20% correction)
   

Regarding altcoins - they're showing relative weakness, and Bitcoin dominance is increasing. This is a typical pattern before a possible correction.

Recommendation: maintain protective stop orders and be prepared for a possible correction. However, the global trend remains bullish, and such a correction could become a good entry point for new positions.

Stay tuned for updates! 🎋⛓️

18 dic 2024

Trade attivo

As expected, we’ve seen Bitcoin drop to the $100,000 level, which serves as a key support. At this point, two scenarios are possible:

1️⃣ Bitcoin bounces off $100,000 and enters a consolidation phase (flat).
2️⃣ Considering the ongoing decline in the stock market, I personally find the second scenario more likely — a further drop toward the $90,000 zone.

Stay alert and keep an eye on the market. 📉

13 gen

Trade chiuso: obiettivo raggiunto

Possible Scenarios: 🐼

🔴 Consolidation within the $88,000-$92,000 range, signaling market stabilization.
🔴 If the $88,000 level is breached, the next support zone for Bitcoin is $87,000-$85,000, and for Ethereum, it’s $2,800.

A reversal near these support zones could create excellent opportunities for new entries.

Key Factors to Consider:
🔴 On Wednesday, the Consumer Price Index (CPI) will be released, followed shortly by the Producer Price Index (PPI). A CPI reading above forecasts (e.g., over 3%) could trigger additional volatility. Additionally, Trump’s inauguration may also influence market sentiment.

We might already be in a reversal zone, and the upcoming days could be pivotal.

🔴 Currently, our primary scenario is playing out well, and if the $88,000 zone holds, the scenario will be fully validated. In fact, we’ve already achieved the forecasted decline predicted a month ago. Now, the focus is on holding the lower block and confirming the reversal.

Stay tuned for updates! 🎋⛓️