Interestingly, CrypNuevo published this analysis a day earlier than a normal weekend. As explained, this is due to the impending volatility, which could accelerate events as long liquidations accumulate quickly.
However, the trader is bullish on the senior timeframe (HTF) and does not plan to go short. He plans to wait for the expected market developments and use the pullback as an opportunity to open a new long position at a price lower than the current $BTC additionally, this smart trader showed a special interest in #altcoins and stated that he prefers to open long altcoin positions on the pullback. This is because, according to CrypNuevo and other analysts, when #bitcoin (BTC. D) dominance enters the range between 60% and 62%, the pullback begins and the altcoin season begins.
Historically, the altcoin season creates opportunities for expansive growth, such as 30x potential gains, as opposed to bitcoin's limited growth potential. Nevertheless, bitcoin continues to attract interest from institutional investors: BlackRock's iShares Bitcoin #ETF IBIT saw significant trading volume this week.
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