Price is Advertisement: What to Expect from Bitcoin and Altcoins

I started my day reading a book that was wall street classic published a long ago which was about market price action and structure.

There's a reason why price moves and basically I needed to understand this whole "volume indicators" to know where people are selling and where people actually buy.

There's balance, imbalance, fair value of the assets according to demand and zone in trending and bearish market which decides price and at the moment in present time we have bitcoin rallying towards upside.

So, to explain what I've understood from that book I'll explain this present situation of bitcoin.

And Nowadays most people are bullish but some are calling for the blow-off top and according to them it is just around the corner that seems like a fair point and needs to be discussed because market isn't going to continue like this forever.

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The Present Price Action: BlackRock Buying, Rates Cut, Stocks

One thing that I learnt is "price is advertisement" and when it moving upwards that just means the advertisement is creating more demands.

Putting this in current scenario that is bitcoin was consolidating in 60-70k for more than two months now and we're in a trending market where stocks are performing making all time highs, rates cuts taking place in EU.

Institution and exchanges either binance or coinbase and BlackRock they all know price is only advertisement for bitcoin.

They are buying again and so bitcoin is about to make new all time high anytime now.

Market Imbalance always follows Balance or Fair Value

Everytime when the assets Go up in one candle or constantly goes up for days and weeks it creates imbalance and the bigger Imbalance is, the bigger balance is required to build up same value for the asset.

Market mostly trades in the balance range. imbalance comes after every once in a while when we see "God candles" in trending market that follows balance like a sort of correction.

77.89k is the Top for Bitcoin

People are mentally ready for the bitcoin price to be at 80k which is something that can be easily frontrun by few hundred or thousands.

Like I believe this one giga candle that is coming soon will set price around 76-77k and than we'll follow the correction.

I want to believe that the volume coming from BlackRock is going to put bitcoin above 100k but that is just mostly hopium for retailers as of now.

Altcoins that looks Ready to Cook

I've seen Altcoins chart and it looks like we're going to see Altcoins having their fun time while GME (memecoin) stock make new all time highs and the roaring kitty become a billionaire.

Altcoins that looks Good at the moment are:

Stx is the bitcoin beta and bitcoin narrative is hot again and it is breaking out which means we could see new all time high by the end of June.

Memecoins Meta is still Hot as the GME is making highs.

I believe there's only one underrated OG memecoin in Crypto that will outperform bitcoin that is DOGE

Chart isn't as entertaining as other memecoins but it just means whales have kept this price this low to accumulate and breakout will be Wild.

Inj needs to breakout and it'll print a giga candle to $35.

The good thing is when INJ moves, TIA, SEI also follows and DYM too might have a hated rally.

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wrapping up...

The sentiments across the board are bullish be it stocks or crypto market and all I can think of is this might be the last dance before we witness meltdown.

Remember the fact that most of gains are made in last 20% of bull market and it seems like we'll witness that time and only if this bitcoin move to upside brings all those GME retails into crypto.

We could see another altcoins season like we did in 2021 and for that season we should find best coins to diamond hand.

fin.

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All the content and images are mine except indicated. No copyright infringement intended. 07/06/2024.

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