"ONE FINAL SWEEP & ONE FINAL SHAKEOUT!"
This is what I keep reading here but I have to strongly disagree
In this thread 🧵 I'll go over why any move for #Bitcoin from here will be detrimental & why it's either gonna become a HTF distribution or re-accumulation
1/15👇
“Be not deceived, God is not mocked. For what things a man shall sow, those also shall he reap. For he that soweth in his flesh, of the flesh also shall reap corruption. But he that soweth in the spirit, of the spirit shall reap life everlasting.”
Galatians 6:7-8
#Bitcoin & altcoins continue to do what they have done every previous cycle - lets take a look👇
The top chart is $BTC, the bottom chart is $OTHERS.D.
Think of $OTHERS.D as a gauge for how altcoins are performing. If its moving up, alts are a better hold than $BTC. If it's moving down, $BTC is a better hold than alts.
As you can see inside of our red shaded areas - as $BTC is charging towards its previous cycle ATH, we typically see alts underperforming dramatically. In each of the previous two cycles, $OTHERS.D has dropped AGGRESSIVELY during this phase of the cycle; just like what's happening right now. Also notice the light blue dots... same market structure each time.
HTF market structure still looks solid here. I think what you're seeing right now is a tremendous discount before alt-season. Take it slow, but this type of PA & fear for altcoins is familiar. People will tell you that it's different, but here is the data. It is not currently different. I remain extremely long until presented with new evidence.