EXTREME WARNING: Is The Crypto Bull Run Over?

Summary of Crypto Market Transcript

Market Situation

• The crypto market has experienced one of the worst liquidations in its history, with liquidations exceeding $2.24 billion.
• The majority of these liquidations came from the long side and altcoins.
• Despite this, the crypto bull run may still be intact, with Bitcoin's price action indicating a strong buy zone.

Bitcoin Analysis

• Bitcoin is still range-bound on the high time frame, with a trading range between $108,000 and $91,271.
• The weekly timeframe shows a significant area of support at $89,900, which has held so far.
• If this level is lost, the next support level would be around $85,000.
• The 200-day moving average is still above the price, indicating a potential bull run.

Altcoin Analysis

• Altcoins have been heavily wrecked, with some losing major levels of support and breaking structure completely.
• The altcoin sector is expected to bottom when Bitcoin dominance is topping.
• Some altcoins, such as Solana and Hype, are showing relative strength and may be top contenders in the next leg up.

Market Outlook

• The highest probability outcome is that the market will continue to range between the current levels.
• The second highest probability outcome is that the market will follow the yellow line, with major support found at the 200-day moving average and a potential bounce.
• The lowest probability outcome is that the market will break down and the bull run will be over.

Trading Strategy

• Trade your portfolio and manage your capital to minimize losses.
• Look for coins that are bouncing out first and holding relative strength.
• Consider trading the ranges on altcoins, such as Solana and Hype.
• Keep an eye on the total cryptocurrency market cap, which is still maintaining a cup and handle pattern.