Below is the scenario I am envisioning for BTC in the upcoming period, please refer to it.
Currently, $BTC is no longer in the peak distribution phase but is entering a redistribution phase. Simply put, the market is still experiencing strong volatility; prices are going up and down uncomfortably, but fundamentally, large amounts of money are changing hands and have not left the market.
Overall, this type will make many people lose patience, and usually, people will take some actions such as:
Newcomers easily get chased and then panic-sell at the bottom.
Anyone using high leverage is very likely to get liquidated.
Those who lack patience will leave the market early.
However, in my opinion, the possibility of BTC has not completely broken yet; BTC is likely to spend a lot of time moving sideways and fluctuating in the middle range.
Weekly 50 EMA (dynamic resistance above)
Monthly 50 EMA (dynamic support below)
If this scenario is correct, what the market needs is not new information but time. Time to absorb the supply, to cool down the sentiment, and to prepare for the next upward phase in a more sustainable way.
In general, you should remember that success is not for the majority; those who know how to manage capital and are not influenced by the general market sentiment are the ones who will be able to profit in this wave.
I hope everyone stays alert during this phase!