As I see the current state of affairs in the market (the part and those coins I am watching):
(Sorry for the profanity, this is a repost of my messages to a friend)
Bitcoin is being pushed up by guys like that whale with a billion, retail traders are opening longs mostly at highs, which is indicated by the liquidation map. ATH is a good idea to open a long, right?))
So, moving on.
Whales pushed the ATH twice to make people believe that this is another upward surge and they loaded longs. Meanwhile, altcoins are in overbought territory with 70/30 long/short and simply can't go further, there's not enough money, and what smart money would go into the same $SOL at 180, when it was there only 2 times. The same thing with ADA - it needs to unload, but Bitcoin is high, not allowing it to drop. Therefore, I think that in a couple of days there will be such a dump that everyone will be shocked. If Bitcoin falls to 104, altcoins will crash as they did at 93.
But Bitcoin is currently very much distributed, these funds and reserves have taken quite a lot of money for themselves, just one BlackRock is worth it.
Trading volume $BTC is falling, we are growing slower with each reserved Bitcoin.
And at some point, the dump of all this crap will just begin.
Altcoins are falling by themselves, their reaction is skewed towards the downside.
This shows fear, the Greed indicator is misleading because everything is at highs.
Trading volume is high only due to purchases by funds, it affects this indicator.
So as soon as the collection of long-holding hamsters begins, it will start with a bang.
1d btc rsi 84, this is a significant overbought, but the indicator does not reflect the essence, since there were purchases by funds. That is, it is a bit lower, as this is an additional LTH (long-term holder).
But the boll, which definitely works out, shows that we are not even reaching the middle line. There is no eternal growth.
As well as the falls.
There's not enough money.
And when the need to withdraw money arises - we will go stomp the ground.
