We Are Far From Over: Recent Dips and Future Peaks

Greetings, fellow traders,

I trust you're relishing the current bull run, as I have been for the past three months. Today, we find ourselves at a pivotal juncture in the path of BTCUSDT , following the long-awaited approval of its ETF after 11 years of anticipation.

Let's delve into the current situation and prevailing sentiment.

Current Situation and Sentiment

For the benefit of future readers, this analysis is being presented shortly after the SEC greenlit BTC's ETF. Despite facing resistance formed in 2022, the overall sentiment appears bearish. Media attention is shifting towards ETHUSDT ETF news on May(which is a joke, it will not happens in years, BTC took 11years and ETH want to go throught in one go?), retail investors are anticipating a cup pattern handle, and analysts are suggesting a retracement for a healthier growth trajectory.

However, factual indicators lean towards bullishness:
- Over $3 billion USDT has been minted without a significant BTC pump.
- All 11 ETFs have been approved and are actively trading.
- While many altcoins have seen a two-month growth spurt, robust altcoins like SOLUSDT remain resilient, with TOTAL3 signaling a bull flag.
- Noteworthy advertising efforts from Ark and Bitwise in the U.S.
- Substantial inflows into exchanges, possibly indicating distribution.

Amidst speculation on whether we are witnessing a "sell-the-news" scenario, one must question if this marks the top. I contend that we are far from the culmination of this bullish trend. To substantiate this claim, let's delve into the chart and understand why BTC is currently down.


Why BTC Is Down

BTC's recent decline is attributed to encountering a significant resistance level dating back to March 22, coinciding with the 61.8% Fibonacci level. While a rejection does not guarantee a trend reversal, the 61.8% level poses a substantial hurdle for bulls, creating a bumpy ride before a potential upswing. My bias is decidedly bullish, and the following multi-timeframe analysis will elucidate why I anticipate a continuation of the prevailing trend.



Multi-Timeframe Analysis

4h/30m
On the 4-hour chart, our MethodAlgo Assistant suggests an impending rise in the face of current bearish instability, supported by the "Gold pit" pattern from "SmartCloud."
The 30-minute chart's liquidation heatmap indicates a preponderance of liquidation levels on the upside, signaling a potential reversal is due. the expect price level is 45500 and then 48000.

1D
Jan and Feb objective is to expect the price go to 55000-56800. just below the red magnet block.

3D
The 3-day chart reveals an upsloping flag, a bullish pattern, supporting the notion that we are at a flag bottom with an anticipated upward price movement.

BTC.D (BTC Dominance)
BTC Dominance shows a double bottom on the left, favoring a bullish reversal, alongside a "Gold pit" pattern from the "SmartCloud."
On the right, the broken and retested Darvas box indicates an unlikely return to previous price levels. and our target is 61.8% Fibonacci level.


TOTAL
lastly we take a look at TOTAL ( for those who dont know this ticker, it is a chart provided by amazing tradingview showing the current crypto currency total market-cap. which also can be analyzed like any other chart.)
The Darvas box's break and buying volume levels below the current price on the TOTAL chart suggest a robust general support, affirming the bull market sentiment.


Conclusion
In summary, the overall charts affirm our position in a bull market. Current price adjustments are viewed as a necessary recalibration rather than the onset of a trend reversal. Signals from BTC.D and BTCUSDT, MethodAlgo Assistant, and various patterns strongly indicate an ongoing uptrend.


What to Expect
Anticipate BTC to stop at 45500 and 48000 before reach $55,000 in the coming weeks .

Try to reach but staying below the 1D red magnet blocks before the April halving. Expect BTC.D to reach the 61.8% Fibonacci level post-halving, representing 60% of the total market cap.

A new all-time high for BTC within the year is probable, with $100,000 projected within two years, supported by comparative extent fibonacci analysis with NVDA chart below.

Extent : what the hell is a Gold Pit
The Gold Pit, a SmartCloud analysis, identifies discount zones during strong uptrends. A red cloud base closing often precedes a significant price pump before any potential trend reversal.