Best time to Buy alts - Life time opportunity
The uncertainty lies in how the price will respond, as historical halving have seen varied reactions. Often, the price has dropped, but sometimes this decline occurred several months prior to the event.
Currently, the price is testing monthly support levels. Technically, there is limited potential for downward movement, given the heightened demand due to ETF involvement.
This is my perspective on the current price action; shorter time frames offer little insight, while the monthly timeframe presents a broader view.
Over the past few weeks, many trades have been invalidated due to the lack of movement in altcoins. This situation persists.
Since we are trading altcoins, I'm providing two charts to assess their status:
- Chart displays higher time frame resistance at 57.5.
- If manipulation occurs due to the halving, we might see the price tap this resistance and then begin to decline. Consequently, altcoins may experience a minor drop followed by a significant increase.
The chart indicates a rising wedge, signaling an uptrend in BTC dominance. A breakdown from this pattern would suggest the beginning of a bull run. The question remains: when will this occur? The answer is elusive as timing cannot be accurately predicted. However, in my view, the timing seems imminent, particularly after the halving event. With the halving, the demand for BTC is expected to surpass its supply, thereby driving prices higher.
I anticipate that our positions will soon experience significant gains. Brace yourselves for challenging times and prepare for volatility. Avoid significant losses before the anticipated bull run.
