Technical Analysis of Bitcoin and Major Altcoins

Introduction

• Focus on technical analysis of Bitcoin and other major altcoins.
• Important for understanding market direction in the coming weeks.
• Recent market context: bearish for last 3-4 months but now showing good signs.
• Trend is still bearish; look for bullish setups.

Bitcoin Analysis

• Breakdown of the current Bitcoin chart and previous trends.
• Understanding past corrections and resets.
• Significance of breaking previous lows to reset and push higher.
• Sideways correction patterns and impulsive moves.
• Key focus: whether this period marks a significant low.
• Use of high/low markers and impulsive move indicators.
• Two possible scenarios: continuation of bearish trend or start of bullish trend.
• Strategies for swing trading based on these scenarios.
• Importance of higher lows and signals for entering long positions.

Avalanche (AVAX) Analysis

• Comparison with Bitcoin's market behavior.
• Examination of daily candlestick patterns and bullish hammer indications.
• Importance of Fibonacci retracement levels (618 to 786) for corrections.
• Analysis of wave patterns (Elliot Impulse Wave principle).
• Focus on deeper corrections and high/low markers.

Solana (SOL) Analysis

• Potential Wave 2 in progress with possibility of a five-wave move.
• Use of Trend-based Fibonacci extensions to analyze current structure.
• Long positions based on certain market behavior but with caution.
• In-depth comparison with 2021 corrective patterns.
• Importance of watching for breakout patterns and maintaining higher lows.

Other Altcoins

• Layer 1 coins: focus on stronger coins for potential moves.
• Mention of specific altcoins: Injective, Chainlink.
• Analysis of pattern formations and higher/lower lows.
• Strategies for shorting weaker coins if market corrections persist.

Trading Strategy and Mindset

• Importance of not diversifying too much; focus on few strong coins.
• Different approach for longer-term investors vs. short-term traders.
• Emphasis on patience and waiting for clear movements in the market.
• Risk management by focusing on high probability trades.

Smaller Coins and New Coins

• Analysis of new coins (e.g., Jupiter) and their setups.
• Patterns to watch for: reducing volume, Wyckoff accumulation patterns.
• Higher lows as indicators for potential bullish moves.
• Caution advised: Wait for larger coins to move before trading smaller ones.
• Emphasis on liquidity flow from larger to smaller coins.

Conclusion

• Recap of strategies and market analysis techniques.
• Focus on chart analysis over external news or FUD.
• Importance of adapting strategy based on market signals and setups.
• Encouragement to use technical analysis tools effectively.