#Bitcoin corrections in 2024 👀

There is not much time left for BTC to undergo a significant correction before the halving. Let me remind you that halving significantly reduces the liquidity for sale from miners ⛏️

In recent days, we have had positive inflows from BTC - ETF, which also puts pressure on the price in a positive direction. It should also be remembered that, in general, an increase in the global liquidity of central banks is forecast this year 🏦

💡In conclusion, this year will definitely be positive for BTC. Predicting a correction is quite a difficult task since many more positives should move the price higher than negatives.

📝Basically, I think most technical corrections will be no more than 20-30% from the local peak and BMS retest.

$LINK is prone to consolidations in a horizontal channel〰️

Now he came out and overcomes the yellow zone. Long-term goals, Orange zone🟠

💬Question: Why should I sell on a signal if the market is now bullish and will continue to grow?

🧠That is why, altcoins grow in waves, which I took into account when developing the indicator. And after extreme greed 🟥 + orange zones, there is almost always a correction. $LUNC

$UMA Another double signal, orange zones🟠 and greed🟥

A good time to fix most of the profit in the form of 4x from the entrance💰

#Bitcoin Keltner Channels 📈

The current BTC cycle is often compared to the cycle of 2016 or 2020. Well, let's consider what if this cycle is different.

In the first cycle(2016), we did not have substantive and protracted corrections. The second cycle had a more pronounced mid-cycle peak, and a longer consolidation after it, and even then the 2nd wave of movement.

The current cycle can have a 3-wave movement. What does this indicate?

💡For example, if now the ETF inflow continues to be positive, and in a month everyone will understand that the halving is very soon, this may lead to the fact that there will be no substantial corrections for another 2-3 months.

📝The third wave will begin already after a decrease in sales from miners and an increase in liquidity from lowering interest rates and infusions into the economy.

$IMX has reached extreme greed🟥, this tells us that soon it will be necessary to fix the profit.💰

Especially if you take into account that the asset often stops before reaching the orange zones, I would partially fix starting from the $3.5 mark

$FLR After Fear🟦, where the asset could be considered undervalued, comes Greed🟥

Which means that the asset is already closer to the selling zone, and when the orange zone is reached, you can fix the profit💰

$BTC / SP500 Correlation 👀

#Bitcoin and the SPX mostly correlate (move similarly). It is clearly visible that most of the histogram is green except for some cases which I circled in gray areas.

📝What do we have now? Although they are now maintaining a positive correlation, the latest movement of the stock market is even stronger than that of Bitcoin.

💡The stock market is growing due to optimism about increased liquidity and, of course, the AI narrative, which has had a strong impact on MSFT and NVDA, strongly driving the technology sector SP500.

So far, most analysts agree that 2024 will be positive for the stock market.

$COTI, an #altcoin that has grown by 40%📈 in the last 24 hours.

As we can see, the buy signal🟢 has again shown us a good entry point into this altcoin. #COTI has a high chance of reaching the orange zone🟠 where we will be partially locking in profits💸.

The combination of extreme fear🟦 with the green zone🟢 provided us with a very good opportunity to enter $INJ.

From that moment on, we had two opportunities to sell at the orange zone🟠 with extreme greed🟥, resulting in a profit of 8x🚀 for the first sale.

I posted a Log Regression when #Bitcoin was 15k.

I publish now when it is 62k. So $BTC has already done x4.

What now? Shall we break the ATH? Let's consider the pros and cons.

This is why yes:

➕Increasing global liquidity.

➕So far, positive flow from ETFs.

Here's why not:

➖Strong overbought

➖Previously, there was no ATH breakout before the halving. And immediately after, the "sell in May" season.

➖Strong sales began (in medium wallets), because many people consider ATH a good zone to sell the part.

💡Conclusion. If we do not break the ATH in the next 2 months, it will likely happen in the autumn. In the base case scenario, I only expect a test ATH unless ETF flows and liquidity increase significantly.

#FLOKI, is a meme coin that has grown by 100%📈 in the last 24 hours. We do not recommend investing in meme coins.

If you are still ready to take significant risks, you could have bought $FLOKI on a buy signal🟢 and sold it now in the orange zone🟠, combined with greed🟥

Regarding meme coins, we do not recommend investing in them, but if you have a strong desire, the current situation is as follows:

$PEPE 🐸 has reached the orange zone🟠 and started feeling greed🟥 after a buy signal🟢, which is a good opportunity to lock in profits💰.

$AR has shown strong growth dynamics📈 in recent days.

People who have access🔐 to our indicators bought #Arweave on the buy signal🟢. It would be a good idea to partially lock in your positions💰, as we have reached the orange zone🟠 and recently started feeling greed🟥

#Bitcoin distance from BMS 👀

Below is the oscillator, which shows how far the price has moved away from the bull market support. Mostly when we are in the 2-3 year of the cycle, the mark on the oscillator 40 acts as resistance, which indicates a mid-cycle peak.

Can it be different this time?🤔

Let's imagine that the $BTC ETF inflow will be greater and distort the situation, in this case, we have a second trend line that indicates a global peak, which, by the way, becomes lower every cycle, now this mark is around ~50 on the oscillator or 80k on the price chart. You can consider this mark a best-case scenario for a local peak.

💡Remember, a good investor does not rely on one scenario but is ready for any.

I think everyone is tired of meme coins, so today let's talk about $AVAX.

Combining buy signal🟢 and selling in the orange zone🟠 with extreme greed🟥 has led to a x5 increase💰 Currently, #Avalanche is heading towards the orange zone and has every chance of reaching it.

#FLOKI reached the red zone🔴 and brought x16🤑

Usually, #altcoins that reach the red zone and trade above it don’t stay at those levels for long. It’s a good idea to consider taking profits💰, in some situations, selling everything can be a prudent move.

$WLD has increased by 50% today and once again reached the orange zone, thereby forming a new ATH🤑

As we have repeatedly emphasized, the orange zone🟠 is a good place for partial profit-taking💰 of your positions, with a gain of x10 since the buy signal🟢

#Bitcoin Log Regression 👀

The orange line, as in the previous cycle, offers strong resistance.

💡I think $BTC will stay at the current mark for another month. After that, we go to the correction, most likely it will not be a deep correction, but rather a consolidation.

This is indicated by overbought and seasonality.

⛏️ And also the capitulation of miners after the halving is possible, this will lead to a decrease in the hashrate, which will slow down the growth for some time. But do not be sad, the bull market will continue closer to autumn↗️

$LPT grew 8 times from the moment of the buy signal🟢 + fear🟦

After #Livepeer reached the orange zone🟠 combined with greed🟥 the #altcoin began a correction and cooling-off period. That's why we always recommend partially exiting positions in the orange zone.

$CORE has tripled in value over the past week🤑 and has reached the orange zone🟠

Just yesterday, I emphasized that #CORE had all the chances to reach 🟠 and today it has done so. Since the buy signal🟢 it has brought us x5 gains, so we recommend partially locking in profits💰