I want to share my views with you in this table.
Everyone says the bear season is coming, but dips/corrections in this market are something we're used to. if you think prices will be constantly rising, this is not for you.
Okay, so let's talk about my view;
In all of the dips in this last week, we have seen the dominance go up by reacting... but why? the answer is simple, whales are shorting the market because they are trying to buy at lower price(bitcoin is easier to play with its price because there is no volume because all the money flows into altcoins right now...)
. why would you sell it while the whales are trying to buy more?
My prediction: I think we'll test the 20-week moving average and get an upward reaction from there. At the same time, I want to add something for those who think it's a bear season, if you look at the peaks of bitcoin in the previous bull seasons, you can see that it doesn't look like a peak, peaks have always ended with non-stop rises. Bitcoin has been going up and down for 2 months. Bitcoin is preparing to give the spotlight to altcoins. Look at the dominance(%51 rn), we are now at the support point, and in an instant break, dominance can go down to 39, which means that all the money will go to altcoins.
Not a financial advice, I'm just a random guy who shares his own views, always do your own research.
Everyone says the bear season is coming, but dips/corrections in this market are something we're used to. if you think prices will be constantly rising, this is not for you.
Okay, so let's talk about my view;
In all of the dips in this last week, we have seen the dominance go up by reacting... but why? the answer is simple, whales are shorting the market because they are trying to buy at lower price(bitcoin is easier to play with its price because there is no volume because all the money flows into altcoins right now...)
. why would you sell it while the whales are trying to buy more?
My prediction: I think we'll test the 20-week moving average and get an upward reaction from there. At the same time, I want to add something for those who think it's a bear season, if you look at the peaks of bitcoin in the previous bull seasons, you can see that it doesn't look like a peak, peaks have always ended with non-stop rises. Bitcoin has been going up and down for 2 months. Bitcoin is preparing to give the spotlight to altcoins. Look at the dominance(%51 rn), we are now at the support point, and in an instant break, dominance can go down to 39, which means that all the money will go to altcoins.
Not a financial advice, I'm just a random guy who shares his own views, always do your own research.