Bitcoin’s main peak has been completed, and as I said at the beginning of the month, I said that there is a high possibility that it will show the flow of awards in the beginning and end the adjustment in the second half. The current week is showing a very clear downward divergence. In fact, bull markets tend to ignore bearish divergence, but if the bar closes below $50,000 this week, we can expect a big correction.
If you make an adjustment this week, you should be mindful of a larger adjustment than I thought, from 42000 to 38800, which is for sale. In fact, I think that the transaction volume is much shorter than that of Bits achieving the declared price. If you think that this will give you a bigger correction, we are thinking up to the 27800 line.
If you look at the beat daily, the target of the crab pattern that I have been talking about is going to the vicinity and making adjustments. At this time, the pattern made before the adjustment was made to create an upward wedge, and the wedge is currently in a downward direction.
It’s clear on the 4 hour chart. I will explain it with a YouTube video. It seems that the decline has ended with a strong rebound after giving a correction, but I dare say that the decline is still underway.
The 1st downfall target is 41850, the 2nd downfall target is 37,000. It is necessary to check and respond to this area. Because it is a daily flow, it can proceed slowly. We will respond with a YouTube video for a detailed explanation.
The beat dominance seemed to be breaking through the 20 average, but it is losing strength and adjusting. We still have to watch the flow, but in order to rise, it would be better to close the bar above 20 pyeong.
◇ Alt Dominance
Alt Dominance is also breathtaking. It’s a picture that can go down alt dominance as well if beats give it adjustment. Still, we cannot conclude that the alt market is over because it supports the uptrend line well.
Tether Dominance is making a rebound, keeping the floor well. Coins are likely to adjust if they enter the yellow upward channel.
Right now, the beat is at a very important point in deciding the rise and fall. If you don’t hit the reported price this week, it’s either going sideways or falling, and it’s likely going down. The only way to break this pattern of decline is to break through the previous high. In this case, you need to be more cautious about buying and selling.
In my opinion, this adjustment will open up new buying opportunities. Just as a wild beast hunts and hides its predecessor and waits for the time, we must wait with that attitude. Opportunities will surely come.