I can't say that I am globally bearish, as the situation with the 'Federal Reserve discount window' is still relevant, but it should be understood that Bitcoin has been rising for 2.5 years, during which it spent about 250 days in accumulation. A relatively good correction has already occurred, a drop is not excluded, but I don’t think it will be very deep. It seems more like another prolonged sideways movement.
The SPX M2SL money supply index has set records, breaking a level from which it reacted with a bounce for 25 years, and after that, a correction is quite possible, but it’s not just about that, the VIX is currently decreasing, which is a good sign.
$BTC reacts to the first point of potential stopping that I described in previous posts, but a move to 73,000-70,000 is quite realistic, and it would be a good scenario.
I really want to answer the question, what to do? But the answer depends on the answer to the question 'What do you want from the market?' because you can always buy for the long term if it's about Bitcoin, but when it comes to altcoins, it's worth thinking, and for short trades, a point can always be found.
So I would wait for specific purchases for now, especially when it comes to altcoins. Ideally, purchases should be made during a specific bear market [I started buying around summer-autumn 2022], so during a time like now, in my opinion, it's better to look for short trades.
The scenario of a 'crash' followed by a strong bull market is also not excluded, but again, the bull market has been ongoing for quite a while already, but this scenario is not ruled out again due to the very high indicators of the 'Federal Reserve discount window'.
#btc
