When everyone is cheering that the 'Altcoin season is coming', the DXY quietly rebounded from the bottom of its major channel since 2008.
On the monthly chart, it formed a green candle at the 0.382 Fibonacci level. It is still uncertain, but if this candle forms an engulfing pattern, altcoins may indeed experience significant fluctuations this time.
BTC may approach new highs in the short term, but will then fall back to around $100,000.
However, this path will not open before altcoins leave tombstones.
My prediction for the end of this year is:
– Continuation of green candles, risk assets hit again.
– BTC makes a new high breakthrough.
– DXY forms a reversal candle with shadows at the top.
– Channel breaks downwards.
– The U.S. initiates year-end local election campaigning, easing the market through money printing.
– Global tensions ease.
– Altcoin season then arrives.
Now is not the time, it's still too early.
Not investment advice.
