Current market situation
> some alt holders are puking, because of uncertainty of ETF. If it gets delay—which the rumour running around it will—alt will be doomed temporarily and there will be good buying level.
> but they wont miss the probability if ETF gets approved, so instead holding USDT, they are switching to BTC, causing BTC dominance raising. Because either approved or not, we are still on the parabolic move and not going back to 2023 yearly open. So its bullish, even tho will have some corrections, which cause by the news, but we will continue to go up later on. So the risk are much lower on BTC, switching from alts to BTC quite logical atm.
> ETHBTC pair still looks like a shit show. The correlation between alt season and ETHBTC dominance is definitely calculated as significant factor. Well, at least we had majority alts were making 3x - 10x or more from local lows.
3 days until ETF approval announcement
Baru bilang tanpa harus—langsung nge flush. Healthy funding. Now its good for long.
Читать полностью…1. Bitcoin touch that $43K level. Making lower high still. ETF priced in still valid. Needed new sentiment to get higher.
2. Funding rate is still high atm, even though market gets corrected. Confident it will snap on the announcement. Beware there. Will be watching.
3. Its good that end of the year you dont need to look at charts. So, enjoy your new year celebration 🙌🏻
TLDR:
Secure your profits, probably is not bad idea, if not best idea. Nobody went broke consistently paying themselves.
But, correction will be open a window of interesting level to accumulate spot again if you are in a DCA mode for one of your portfolios.
LTF play: not gonna be too confident we can reclaim $43K, since the narrative that we mentioned that HTF will pretty much going to have a correction. How big? The range can be $40K - $38K. Much worse? Well we can talk about it later.
So the best LTF play atm is sideways for BTC until ETF approval announcement is sideway upon this range $42K - $44K which happen to be estimated less than 2 weeks. Possibly will not getting out of this range until we get another sentiment going on.
Alts: sideways will gives alts breath. Which we saw that happened. Alts that already getting the maximum short term capital rotation, will get corrected, but, will not get any lower than last weekly open. The capital rotation continue to smaller alts sooner or later.
After ETF approval announcement?
Wether it gets rejected or approved, both are still bullish for the year, will not making any lower price than yearly open (2023). So, it will only make us to wanting unloaded in a premature way on the unfinished bull run.
Cont…
Momen dimana lo merasa whale mantau, nunggu-nunggu-nunggu, pas lo entri, dia berlawanan arah 🤣
Читать полностью…$RUNE mantul dari support. Sebagai salah satu pembuka bull run, mari kita lihat performa nya tahun ini.
Читать полностью…People are still expecting halving will be the biggest sentiment of the industry. So that is why, not many funds will be exit the industry, rather attracting more inflows, until next ETF approval announcement.
Furthermore, skip skip, we are in mid year of 2024, everyone expecting the FED to not have rate hikes. Then US election in November and then probably we’re topping in early Q1 of 2025. If ETF approved, bigger inflows, prolong the bull to breath until end of 2025.
At some point, HTF correction is due. Just dont know where exactly the momentum is. Since timing the market is not a good idea, all we can control is put stop loss.
Recently Michael Burry loss more than Rp 15 trillions for him to time the market. So who are we? (=