Thus, today with the engulfing candle from last night. The first peak of $BTC has been confirmed on the 1d chart.

Btc is still in the upward trend on M. The adjustment still needs to continue in the short term within a long-term upward trend. The adjustment level has reached the average level. At 100,200.

Next, we need to consider the 9x area. The deep adjustment zone.

1. It is a continuation of the short-term downtrend. More time is needed. With deeper adjustments happening sooner, altcoins may have an alt season after reaching the bottom once btc stabilizes.

2. Going back up to create the second peak. Altcoins will only switch peaks and bottoms, continuing to have local alt seasons but no broader alt season.