Is It Time To Sell All Of Your Crypto? [This Is My Trigger]

Crypto Banter

Current Crypto Market Situation

The crypto market is under immense pressure, with a sea of red across the board. This is a point in the cycle where people start to get scared and question their biases.

Bitcoin Price Movement

Bitcoin's price movement is affected by the DXY (dollar index), which is breaking out of a strong range. The DXY and Bitcoin tend to trade inversely, with a rally in the DXY often leading to a bear market for Bitcoin.

Key Support Levels

The next key support level for Bitcoin is around $85,000, with a potential drop of 16% from current levels. A higher support level is at $90,000.

Seasonality and Crypto Cycles

Crypto tends to follow seasonal patterns, with January, February, and March typically being strong months. However, the current cycle is not following the typical pattern, with a potential top in the $120,000 to $125,000 range.

Risk Factors and Indicators

The short-term bubble risk indicator is low, indicating a potential buy zone. The BBWP (Bollinger Band Width Percentile) is also low, indicating low volatility and a potential springboard for a bounce.

Altcoin Market

The altcoin market is also under pressure, with many coins showing similar patterns to Bitcoin. The total altcoin market capitalization is around $792 billion, with a potential drop of 16% to $662 billion.

Key Coins to Watch

  • Ethereum: potential drop to $2,800
  • Sui: potential drop to $390
  • Render: potential drop to $625
  • Rune: potential drop to $199
  • Pendle: potential drop to $3.31
  • Near: potential drop to $347
  • Casper: potential drop to range lows
  • R-Weave: potential drop to $1260
  • MOG: potential drop to $1330
  • Pepe: potential drop to $12
  • Goku: still defending a trading range between $10 million and $20 million market cap

Economic Events and Indicators

The CPI (Consumer Price Index) data is coming out this week, which could create volatility in the market. The FMC (Federal Monetary Committee) decision on interest rates will also be closely watched.

Trading and Risk Management

It's essential to manage risk and not get caught up in emotional trading. The best way to trade is to build positions in low volatility and exit in periods of high volatility.