It's been a while since we had a market review. BTC is steadily flying towards $100,000 and I won't be surprised if by the time I write this post it already reaches that mark.
However, let's look at the technical metrics without emotions:
The Fear and Greed Index is 94 (extreme greed) - the highest since February 2021
The market is very overheated and I think the BTC correction is a matter of time, and then the altcoin will follow it with a dominance of 60%+ (the dominance does not want to slow down at all).
Now imagine what will happen to the altcoin if we draw a correction of at least 10% for BTC? The altcoin will immediately fall by 20% - 30% and that's in the best case
It's a strange feeling to be honest about the market, because the higher we go, the scarier it is to buy something or launch bots . That's why I'm now extremely careful with trading and even with bots.
As Timofey Martynov (top 1 CIS trader) wrote:
I'd rather take a year off from trading than trade in conditions of complete misunderstanding of the market.
I agree with him, especially since bots work on any market and diversify spot and futures (or rather their cancellation).
Are you expecting a market correction after $100,000?
Yes, the market will fall
No, Vic 3ree is worrying in vain, we are waiting for $110,000
let me know in the comment section
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