The bulls are already becoming weaker and weaker as the day's are passing by despite of positive news coming on the surface still not having much impact since the volatility is at it's lowest point of the year.
It is the time when you should be concern about making a wise decision and dive deeper to find out what could happen next in crypto market.
So, I have some opinions on current market that I wanna share which might be upcoming possible scenario in the market.
The Quiet Drama of Low Volatility
since the beginning of the year we're in a uptrend with high volatility and volume which is now decreasing after Bitcoin tried to break $31.6k range after three attempts.
Yet got failed everytime and has pushed us back under 30k and we're just moving sideways now.
This kinda situation is what we say "uncertain time" hard to predictable cuz it could move either way quicker than expectations.
The Choppy Market draining Funds
It makes hard for you to trade since $BTC is just ranging under %1 and liquidating bulls and bears on the same day.
It is known as "Chop" like harvest from the remaining active traders and retailers left in market while rest are on summer vacations with profits they've made throughout whole year.
This is when you should completely abandon trading and just observe the market after making your buying target on the chart.
Is Altcoins Trend Changing?
There are some weird things going on with Altcoins nowadays. Plenty of Altcoins under top 100 are bringing new announcements which is pumping those coins later eventually dumps the other day or within an hour like news are working as exit liquidity.
This actually happens when the buyers are not interested in buying and the market makers want you to buy.
Some of VC's are resizing and dumping their Alt's.. while exchange like binance is nowadays is just listing more Alt's and shinny coins are mooning.
While the last day alt market got nuked $PEPE was down more than -10%, $HIVE is down and others as well when $BTC is barely moved.
So, I can't imagine that scenario where Bitcoin take -5% or healthy correction and Altcoins follow-up that path.
A Clear Strategy and Plan is All You needed in this Market
After all, the only better option I could find for myself is stay in the sidelines and start DCA into coins for long term as of now.
You can't time the market everytime there's always someone who'll frontrun you when you're searching to catch the bottom.
So, I have convinced myself not to look for rock bottom instead follow this plan:
I'd place one buy order at current price range than next would be solid support either it will get filled there or I'll simply buy the Breakout at $32k there's no in between.
wrapping up...
In the end I believe when volatility will return it will move fast leaving sideliners behind which could be sparked by approval of Blackrock ETF or 2008 like situation in next month.
So, well I hope you're clear about market and would like to know what way you're going nowadays in comment.
