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BTC - The necessary adjustment

My friend, as I mentioned earlier, the market is overbought and greed has escalated, so be cautious. I believe the market will undergo a correction, and I have discussed the rotation of capital flows. Why do I think that will happen? Because I am observing the market on a weekly timeframe. It's clear that the weekly candlestick close has confirmed the breaking of the old peak. But, will it continue to rally forcefully after breaking the old peak, or will it correct and gather momentum to climb to higher levels? I believe in the second scenario because it is necessary for the market to continue stable growth! Why is that? Because the Crypto market consists of many coins and tokens. Bitcoin has broken its peak, but have the major coins recovered yet? And if they want to recover, what needs to be done? Where is the money for these coins to rise? The most reasonable answer is the need for capital rotation.

Returning to the technical chart, in the upcoming period, we will have the opportunity to buy BTC at low prices at two buying zones: 53K and 43K. Afterward, we will take profit at the next levels as shown on the chart I have drawn.

This is just my personal opinion and also my optimal scenario. I hope it will be helpful for you to have a reference perspective.
Best Regards,

交易進行

Looking at smaller time frames, the price of Bitcoin is moving very bearishly. Even for those clearly playing the Ichimoku cloud, on the daily timeframe, the price has fallen below the cloud. However, if you look at the weekly timeframe, we have a candle closing above the previous peak. However, the RSI is very clearly overbought, even forming a double peak. Therefore, a correction here is crucial for the next wave. Earlier, I forecasted two buying zones: 53-54k and 43-44k. I don't expect the price to return to the 43-44k zone. But the 53-54k zone by now has been confirmed 99%. This is a buying opportunity for those who haven't gotten on board yet. And it's a dollar-cost averaging (DCA) opportunity for those who got in at higher prices. I suggest investing only 1/2 - 2/3 of your capital. Don't go all in because the 43-44k zone on the weekly timeframe is a strong support zone.

交易進行

Are you ready to buy BTC and altcoins in the price range of 53-54k?

註釋

99% chance we won't see the $43,000 - $44,000 price range for BTC. Currently, the strong support level on the daily chart is $63,000. Let's aim for the $88,000 range!

交易結束：目標達成