#BTC & #Alts If you're down, Read this! I know how you Feel!

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#Bitcoin Keeping it Simple!

BTC : Weekly close must be above 62k for a rebound. If we close below that level, BTC could drop to as low as $50,144 to $53,288. It's better to wait for the weekly close—stop staring at the screen if you're anxious.

After a red market comes green, right? So, don't try to catch falling knives. Even my spot bags are down, but remember what we did in the last bull runs? We sold right before the real rally started. Don't make that mistake again. It's better to log out and avoid futures trading.

If BTC hits the 50k-53k zone, that could be a great opportunity. Why? Alts will have even more discounts, presenting a rare opportunity that comes once or twice in 4 years. So, buckle up.

BTC Dominance is nearing a high, possibly creating a Bearish Divergence. DXY is breaking support, and institutions like BlackRock are buying in. Saylor is raising $2 billion to add more BTC to the Microstrategy portfolio. A lot is happening.

You'll thank yourself in the next few months for not panicking. I know it's tough to see your portfolio down by 20% to 40%, but when these alts start making 5x or 10x returns, you'll be in the green. That’s likely to happen soon. So, stay strong, trust yourself, and don't try to outsmart the market. The key is choosing the right coins—I've posted many altcoin setups for that—and being patient with those bags.

If you're new, steer clear of futures.

Conclusion:

BTC is trading around support. 60.3k is a good support level. A weekly close above 62k is crucial. If that doesn't happen, we'll wait for more opportunities. This price action might continue for 4 to 8 weeks before the real rally begins. The plan is simple: stick around for the next 4 to 8 weeks without making rash decisions.

I hope this post helps! If it did, please like and share so more people can read this during these challenging times. Stay strong, WAGMI :)

Thank you

#PEACE

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4-Hour Chart Analysis

Currently, Bitcoin is hitting the golden pocket, indicating a potential rebound. Considering the recent move from $53,503 to $70,079, there's a possibility for BTC to close above the 62k level this week. If that happens, it could fuel a rally towards 65k. This is the bullish scenario we're looking at.

Action: As mentioned earlier, wait and observe.
I will keep this chart updated so hit that like button to get notified.