I have an exact date for the end/bottom of the correction as well as an exact price...
Hello!!!
How are you feeling today?
I hope you are having a wonderful week.
Where to start?
We have so much data coming from the charts that it is hard to choose.
We will look at Bitcoin's 2024 capitulation event as well as how the Altcoins market will react. These will be the main topics for this trade idea.
A few months back we mentioned that a correction/bearish wave tends to develop 2-2.5 times faster than a bullish wave. We know that Bitcoin's latest bullish wave lasted 16 months and thus we have a time estimate of around 5-8 months for the entire bearish wave to be completed.
The correction phase has been now going for 4.5 months.
We have about 7-9 weeks left before the correction bottom is in and we move to the "Bitcoin is going up" scenario. Once we get the bottom, we will only share LONG trade ideas until a few months or weeks before the next all-time high.
My job is to prepare you, alert you/warn you, of the event before it happens.
This time we might not get perfect timing on the bottom low but we will have plenty of time to buy and hold for long-term growth.
For the correction bottom we are looking at something like a hundred minus sixty.
Technical Analysis
➖ The highest bearish volume came in January 2024.
➖ High bull-volume on March 2024.
➖ The high bear volume again followed by a strong volume decline.
We interpret this signal as waining interest by market participants.
As interest decreases, so those the trading volume.
Now, the majority of new participants, the ones that are going to capitulate, entered the market with an anticipation to make "easy money." It goes something like this; The hype is on, Spot ETFs, etc., and Bitcoin gets all over the media and becomes a buzz word. People normally become interested and start buying hoping, wishing and expecting to double, triple and quadruple their money fast; 100K.
This segment of the market has no plan, no experience, nothing to give strength to their position. The main reason to join the market was for speculative purposes.
This segment was surely hoping to start earning bigly within hours, days, maybe even a few weeks but the truth is that it has been 5-7 months since most joined and 100K did not materialize. What was supposed to be a strong and definitive rise straight up to 100K, turned out to be a very long and boring wait.
But a long wait for what?
The capitulation phase.
Many people are surely desperate by now and questioning the validity of the information they received many months ago... But this is not enough to shake them out of their hands, they will only panic sell when Bitcoin moves below 50K.
Ok. Everybody knows these things so let's continue.
We have another major lower-high pattern confirmed and I was meditating as to how things will actually develop in the coming weeks.
One question that curious onlookers might want to ask first: Is it possible for the capitulation process to be avoided?
I meditated on this question and reached the conclusion that it is not possible.
It is not possible because the market feeds on money, liquid, and this liquid comes from people. For the market to be able to feed off from certain people it has to educate them, condition them, or else people would be too centered and not ready to make mistakes.
If the market moves easily and in a predictable manner straight up, there is no reason why Johny and Bobby would have to panic and sell early or mess up in the bullish phase that is soon to come.
When the ensuing panic develops, many people will start to question all the assumptions they accepted in the first place. This questioning will lead to doubts and these doubts will compel them to make countless of mistake in the next market phase. I am talking about market psychology... If you don't understand you will soon know what I mean.
We can see 6-8 weeks straight down, or, there can be some variations but down we go.
Altcoins Market Reaction To Bitcoin's 2024 Capitulation Event
Many Altcoins peaked early this year and are now down by 50%-70% compared to the last major high. A major correction just as is usual after a strong bullish wave. We warned you for months before it happened.
➖ Some Altcoins are still high up.
➖ Some Altcoins hit new all-time lows already.
➖ Some Altcoins are in-between..
We are focusing on the Tether pairing for this short analysis.
Long story short: It will all crash.
Long story long: I shall explain.
When you buy an Altcoin, say $1,000 worth of any Altcoin, you see your tokens/coins as being worth that same amount of money. If you see a 70% correction you say: "Well that's a lot, it isn't likely to go lower." But that is not how the market works.
The pairs/tokens move based on how insiders choose to move their coins. They have endless quantities of these tokens; truly endless. When they check their balance, they can have $200,000,000 worth of tokens but they don't see it as real money like you, because this money cannot be materialized as there is not enough buyers, not enough liquid, not enough capital. At the same time, selling without a plan would depreciate too much the price of the project in question and thus make people dislike it and sell it. So they have to have a plan.
Long story short again: Bitcoin's capitulation is a great moment/event/excuse to sell anything and everything as much as possible by these insiders. So even if you see your favorite project has gone down by 40%, 50%, 80% or even hit a new all-time low; get ready, because there is room for lower once Bitcoin drops.
Good news
The great news is that I am here for you... We will have great opportunities to buy when the market hit new lows. Once we hit bottom, the only place left to go is up.
Patience is key![/B]
Gentlemen... You are truly appreciated.
Ladies... You own my heart.
Namaste.