Market Overview
The market is experiencing a strong recovery with good trading volume, indicating a continuation of the uptrend. Current prices are around ₹21,500 for Bitcoin and ₹4676 for Ethereum. The speaker believes this is the start of a bull market that could lead to new all-time highs for Bitcoin and Ethereum.
Bitcoin Analysis
The analysis notes a bullish pattern of "higher highs and higher lows". If you missed the initial entry, you can consider buying if the price drops to the ₹20,000 range. The speaker mentions that the market is likely to form an ascending triangle, which is a bullish pattern. Immediate price targets are ₹25,000 and ₹30,300, with a peak target of ₹2,20,000. The speaker suggests a three-part entry strategy for long-term vision, but advises waiting for a slight dip for those with limited capital.
Ethereum Analysis
Ethereum formed an ascending triangle pattern, which led to a breakout and subsequent recovery. For those who bought at the recommended bottom levels of ₹3500 to ₹3600, it is advised to book 30% of the profit and hold the rest. For new entries, the speaker suggests waiting for a minor correction, which may happen around Friday or Saturday.
Altcoin Season
The altcoin season is approaching, as Bitcoin's dominance is decreasing and breaking a key support level. This is expected to fuel a strong rally in Ethereum and other altcoins.