Will history repeat itself?
The past few weeks, w saw alts experience tremendous gains while BTC was consolidating and losing some steam along with market dominance (Went down from 69% to 35%)
We have 3 scenarios here:
SCENARIO A) The alts bull cycle might be over, and BTC could accumulate all this new money to get back to ~60% dominance again.
SCENARIO B) BTC could continue to crash till $8,000-$5400 and crash the whole market even more.
SCENARIO C) BTC could consolidate around the $10k-$11k zone for a while.
My vote goes to SCENARIO A (But I am still on many alts)
Good luck to all! Let me know your thoughts in the comments.
If the price reverts at $9000 then that will be a double bottom and BTC will continue its bullish rally from there.
Be Strong, HODL thru these tough times! RSI is heading towards oversold and MACD is nearing a bullish cross on the daily timeframe.
Our green projection channel is holding up well :)