Hey guys, how are you all? Hope you’re enjoying the market show. The market is following exactly as I shared in my last update.
Now, what’s next?
BTC.D – It has dumped from the major Fibonacci resistance level (see 1st screenshot) and has now finally broken the trendline that’s been holding since September 2022. That’s very, very bullish for alts. However, the key level here is 60.56% — it must be broken to start a mini altseason. If it breaks, I expect BTC.D to hit below 58%.
BTC – I showed you the PO3 formation, and it’s still intact. BTC has left the manipulation box (see 2nd screenshot) and has now entered the distribution box. No need to panic as long as the box holds. Target remains $125k.
$ETH – I gave you a yellow box to buy ETH, and that turned out to be the bottom. Then, I showed you a path (see 3rd screenshot) for ETH, and it’s almost been touched. Those red boxes below still need to be filled, so I’ll be very cautious here. I’m expecting a range on ETH so money can rotate from ETH to alts.
TOTAL3 – Still lagging. I wanted a double bottom, but it pumped without one — and I’ll accept it. This index is in a bull flag (see 4th screenshot) and currently at the upper resistance of the parallel channel. If this breaks and turns into support, I’ll go all in on alts. Otherwise, I’ll go all in when it reaches my yellow box — whichever comes first.
Overall – I believe a mini altseason is near. I’ll wait until Monday (since it’s the weekend) or after the breakout of the channel (since we’re at resistance). Until then — patience.
