RANDOM_

I have opened my CopyTrader fund, so you can now copy all my movements. Make sure to choose a fixed proportion and enter the amount you wish to invest with me. Do not set anything else if you want to stay true to my movements. Do not exit at a loss. If you have any questions, feel free to ask me. Let's win together 👇

What is driving cryptocurrencies?

There are 3 key news items shaking the momentum of the crypto ecosystem, and they are as follows:

- Possible resignation of Powell
- Anticipation of interest rate cuts
- Approval of the Genius Act (regulation of major cryptocurrencies)

This series of news was the spark that triggered the price explosion, it is still unknown whether it was just a premature reaction or if this has already marked the beginning of Altseason. Key signals are still needed to confirm the start of the Altcoins season, so don't even think about rushing to the bank to take out large loans to buy cryptocurrencies; wait for the relevant signals:

- Surpassing the previous BTC dominance low (Achieved)

- Surpassing the previous price peak of Ethereum (In process)

- Surpassing the last all-time high in total market cap 2 (In process)

When all 3 signals occur, it will be a fact that the Altcoins season has begun, follow the charts to be ready.

BTC dominance has broken its previous low 📉, the next signal to fulfill is for Ethereum to break its previous high.

In bullish trends, fluctuations are completely normal, usually due to generational profit-taking. For example, some investors bought an asset at 1 USD, then it rose to 2 USD, that is their target, they sell it to the next generation who buy it at 2 USD, then it rises to 3 USD, and now they sell it to new investors, and so on. It depends on each one's objectives, but many times there is agreement on goals, that is where the price stagnates because often sellers gather and there is a lot of supply, but one must wait for new buyers to emerge. Sometimes, due to oversupply, the price drops a little; no asset rises diagonally in a clean manner.

If BTC dominance exceeds its previous low of 62.18%, it is a double confirmation that we are entering Altseason.

Hey, watch out for this because it's taking me by surprise as well. While BTC is falling, with each fluctuation, Altcoins are falling less and rising a bit more. So I went to take a look at BTC dominance and to my surprise it dropped from 65.6% to 63.5%. That's a significant drop in just 2 days. As I mentioned, Altseason takes everyone by surprise at times when it's least likely to happen. I'm not saying we're already in the full intermediate phase of Altseason, I'm just saying that signals are being seen and we need to stay alert.

As long as a coin has high trading volumes, meaning there are constant price movements, there is no need to worry if the price drops too much; in fact, if that happens, it is because it will have a significant rise. One thing I have learned with coins that have good trading volumes is that the greater the drop, the greater the price rebound that coin will have.

Weekly update of my CopyTrader fund: This week has been highly volatile, which affected the accumulation. I also made larger adjustments to the volatility range and tighter profit-taking adjustments to have fewer bounces. Thus, the portfolio dropped by 41.26%, within the estimated range. Binance mentions that the maximum drawdown was -57.02%, but this is false, as it calculates based on the base capital, and since I added more capital to the portfolio, it started from there when losses accumulated. It is possible that next week there will be recovery, and even profits, especially with the modifications made.

I see many posts saying that we have already entered Altseason, that is completely false, for that, the dominance of BTC must show the beginning of a downward trend, for that, the percentage of BTC should be below 64% if we start from its last peak of 65.5%, if that break is shown without another peak, then it is a clear signal, meanwhile, what we see these days is a kind of accumulation of ups and downs.

The first ones on the list of falls are already being reported haha

According to the base capital of BTC, I estimate that the drop would range from 114k - 113k, but only if no more capital is injected; it could even drop further if capital is withdrawn for profit-taking. I doubt it will fall below 110k, unless there is extreme fud.

Why did BTC rise in an insane way? It literally has a vertical increase, nothing gradual. Reviewing this phenomenon, I realize that this is not because external money has entered, but because multiple short positions were canceled and long positions were entered. This is known as a short squeeze 💦. When there is an unexpected price change, short sellers panic and jump onto the opposite trend. All of this leads to a cascading effect, causing the price to rise as if there were no end, since there is no resistance and bulls take complete control. Likewise, this affects other cryptocurrencies due to the mirror effect. The detail with this is that when there are no short positions left to cancel, the party is over; there is no fire without fuel, and that’s when the bounce comes, since it is not an organic rise, there is no incoming money backing it. The only way to avoid the bounce is to add external capital to BTC, which would consolidate it.

God, this is really taking off hard, how much will the rebound be then? The trend continues, I jumped the gun a bit.

If you are trading a high-volume cryptocurrency and it remains in a range and you have no idea where the price is headed, then a good indicator is to look at the charts of low-cap coins, as they are more sensitive to movements. Here is an example in the images: while Doge remains in a range, bananas31 is at a peak, which suggests that it is most likely that the price of Doge will go down. The same happens in reverse; if Doge were in a range while Bananas31 were falling, it is most likely that the price of Doge would go up.

The trend is already clear, although a slight correction is coming, it rose very quickly, after that, another upward pump, this is normal in impulsive movements, I consider it a good time to go short, take advantage of this slight correction, and then join the upward pump from the lowest point.

an eighth consecutive reversal has already formed, if today closes this way, it seems that the trend will be upwards, unless there is a ninth consecutive reversal, although that has never happened in history, in any case, following the historical pattern, if it closes with an upward reversal, then we will have an upward trend for now.

The dead months can be an opportunity for short-term investors, for example, BTC can rise by 10% and fall by 10% in the same month, for a long-term investor this was a garbage month, as the price didn't go anywhere, for a short-term investor, they could take advantage of both trends, it also works for algorithmic investors, although depending on the timeframe, this could also turn into a hell of false signals, something that wouldn't affect a long-term investor, you need to know how to operate and be aware of the pros and cons of the different ways to invest.

Trend Analysis: In daily charts with percentage changes, historically there have been a maximum of 8 accumulated daily reversals of indecision before marking a trend. Currently, from the end of June to today, there have been 7 reversals. If the market turns upward, it would be the eighth reversal; 9 consecutive reversals in daily timeframes have never been seen. So it is clear that a trend is coming in these days; I don't know if it will be downward or upward, but history shows us that at the 7th or 8th maximum reversal of percentage changes, a trend emerges.

Results of the first week of Copytrade, it started off on the right foot, but on the second and third day, we had the bad luck of hitting one of the worst streaks (very rare) that could have happened, with a drop of approximately 35%, followed by a stable day, but it recovered over the next 3 days, even closing with a profit of 5%, we have already passed one of the worst scenarios, now let's see how we do next week.