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degen chad
@degen-chad
I know it’s hard to fathom given the state of the alt market, but this $BTC chart doesn’t even look bearish. It’s about 13% down from ATH and basically still in the same range it has been for the last 12 weeks. Could it just go straight back up from here, sure. Could it still go lower and still be macro bullish? Yes. How low could it go? I put some green limes here as potential targets that make sense. Just under 80k at the 200 day moving average, or back to the top of the previous resistance area around 73k. Wherever it stops, I think we’ll be looking at some incredible entries in high quality alts. If you have dry powder, don’t fire it all in one clip. Many alts will recover and go beyond previous all time highs, a large number will likely not recover at all. So even if you aren’t injecting new capital, now is not a bad time to rebalance some of your questionable bags into high conviction ones. Don’t fall victim to “sunk cost fallacy”
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@lenonmc21
Certainly, BTC carries the sentiment and the reins of the market, but, the Altseason is marked is by the performance of ETH, which is very bad at the moment @vitalik.eth already has plans to change many things that will make ETH get in the race, while the dominance of BTC goes down and the explosion begins. Although we are still bullish and maybe the pullback can be stronger, you have to keep calm, this usually happens, although AI narratives are very sound, some are still very weak despite having a good product, of course this is not in all, but it is happening. The reality is that I see a lot of discounts, going for Blue Chips is the lowest risk option and having BTC is always the lowest risk, but, I still hold and you have to look to get out of some to get into others.
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