Since January 1, 2023, the crypto market has entered a bull market that continues to this day. Many are still in denial about it, as the recent debilitating downward sideways movement has exhausted most of the market.

For these 2 years we have been constantly writing to you that the long-term trend for the coming years is strictly upward and there is still a lot of time until the end of the bull market.

Before the current growth began, we wrote many times that#BTCgrowth would begin after the breakout of short liquidity zones.
As a result, to this day the main driver for growth is the liquidation of short sellers!
In just 1 week of growth, a total of $1.8 billion in short positions have already been liquidated🔪🐻
The short liquidation feast on the crypto market continues.

$BTC every day it updates the highs and the trend has just begun. Following Bitcoin, the entire market has already started to catch up and we are only at the start of the rally.

In the current reality, drawdowns can be quite deep, but all of them will be instantly bought out. The purpose of drawdowns is to collect leverage.
Therefore, it is now important to work exclusively in long without trying to prove to the market that it is wrong.

The crypto market loves to surprise.
After a long marinade, the market decided to make a gift and, contrary to everyone’s expectations, launched the alt-season.
Some coins $BTC $ALPACA $DODO have already shot up by +100%, but there are only a few of such coins so far.
Look at picture 1, which shows the dynamics of alts for this week.

To continually grow your portfolio, you need to keep at least 80% in strong, perpetual growth assets.
And only with the remaining funds, collect various alts that can really give you good earnings. The price for this is high risks and large drawdowns.
Fortunately, we are still far from the end of the bullish cycle. This means that most of your and our drawdowns in alts are temporary.

Now all attention should be concentrated only on strong assets BTC $ETH $TRX TON BNB and only after their growth can we consider alts.
💰 BTC has been marinating within a wide downward sideways trend for 175 days now. Moreover, in the last 2 weeks the price has been trading along the lower border of the global ascending channel.

The coin successfully completed the bearish Wedge figure and unloaded the bearish diver.
The price instantly fell below the MA200d moving average on an all-time record volume!
This was followed by an immediate buyout that continues to this day.

With this fall, the coin not only formed a sales climax, but also corrected the entire growth momentum since the beginning of the year to almost 0.618 according to Fibonacci.

In previous posts, we said that from the next quarter, which has already arrived, we can expect the growth of the crypto market to begin.
The quarterly options have expired and now it is time to open positions for the new quarter.
As a rule, this takes 1-3 weeks of the new quarter.

As you remember, the ETH ETFs themselves were already approved a month ago. Now all that remains is to wait for approval to launch trading in these ETF assets.

SEC Chairman Gary Gensler has already stated that the process of launching ETH spot ETFs is going smoothly without any problems. And the launch date of trading depends on how quickly issuers respond to the regulator’s requests.

The market has been falling for the entire current month, without any news. But just yesterday, scarecrows began to appear, saying miners are selling their reserves $BTC , and those affected by the collapse of the MtGox exchange in 2014 began to receive payments.
That is, negative news began to pour in when most of the market had already collapsed, especially alts. Isn’t this close to the culmination of sales on the market 🤷‍♂️

Over the past 4 weeks, the market has seen a massive shakeout of alts, even the most skeptical traders. Some alts managed to fall even under their historical levels of 2017!
And all this against the backdrop of Bitcoin falling by only -10%.

But coins of eternal growth are in no hurry to fall and give a strong rebuff to the seller on the market

Bitcoin is slowly declining, having lost -9% from a local peak and -3.64% since the beginning of this month.
At the same time, many alts fell by -20-30% and even -50-60%!
Most of the alts are already trading at the levels of February of this year; it was in this range that most of the old market players made purchases for their long-term portfolio.

Traditionally, the crypto market is starting to feverishly ahead of the FOMC meeting, which will be held tomorrow. Moreover, consumer inflation data will be released tomorrow. A very important day, which logically should determine the further vector of market movement. But this no longer works at the current stage. Below we will explain why👇

Before reading this post, we recommend that you read our past posts.

Today Bitcoin breaks through a 3-month sideways pattern in the form of a bullish flag upward. Also, the local Triangle pattern was successfully broken.

All that remains is for the price to gain a foothold above these patterns during this week and then you can open the champagne 🍾

Friends, we want to congratulate you not only on the beginning of summer, but also on the positive closing of the monthly candle
Bitcoin.

The previous monthly candle closed, almost blocking the entire previous red monthly candle, thereby forming the Clearance in the Clouds candlestick pattern.
Moreover, such a price rebound occurred from long-term moving averages, which only strengthens the bullish signal for Bitcoin and the market as a whole.

Last week set a positive fundamental vector for market movement in the medium term.
There has been a lot of positive news for crypto: the approval of the ETH ETF, an excellent report from Nvidia, Trump’s public statements about supporting crypto, positive economic data in the US, and much more.

A big surprise for many was yesterday’s official decision to immediately accept 8 ETH ETFs from you.
Before approval, the standard haircut of lovers of large shoulders took place with the help of a stuffing about the rejection of the application for an ETF.

Nevertheless, the ETF was approved and many people probably opened positions with large leverage on this news. The only question is who now predominates in the market, shorts or longs.

To determine what stage the market is in, we really like to look at the dominance indicators of all popular stablecoins.
The data showed the "health" of the market, that is, whether growth in the market occurs organically or artificially.

So, if the dominance of stablecoins decreases, then these stablecoins go into the market for the redemption of cryptocurrencies

Last week we said that until Bitcoin breaks $71,000, our priority scenario would be to continue trading inside the sideways/bullish flag.
BUT Bitcoin has successfully broken through the sideways/bullish flag upward and is making attempts to consolidate higher.

As we found out in the past 👉

Read

Previously, we described a lot of facts in favor of the imminent start of market growth:
1️⃣
Bitcoin after halving. Why you shouldn't sell your assets
2️⃣ Текущий боковик Биткоина может закончится на этой неделе!
3️⃣ Альты готовы к взлету и что будет с Биткоином? Большой обзор