This guy is usually right or pretty close Going to try and copy and send his charts but that never works
My playbook:
First $BTC to $48,700
Then $ETH to $3350
Then altcoins party for 14 days.
Then sell everything to USD.
Then
Buy the 40% dip on Bitcoin and alts.
Bitcoin has a strong affinity for the 61.8% fibonacci retracement level for rallies to get to before sell offs.
Here are a few examples of #bitcoin and its love of it.
2014-2016 - $BTC .618 -> 38% sell off before new highs
Two of the 2017 Bear Market Rallies After the $20k high - Hit .618 then sold off 40%.
The 2019 Bear Market Rally before the covid drop hit the .618 perfectly from 2017-2018 high to low.
And finally, that brings us to today and where we are currently.
I don't think we see big pull backs (more than 15-20% on Bitcoin until we make it up there, but I could always be wrong and will happily change my plan until then.
Then maybe a quick wick down to $32,000-$36,000 on some FUD like US banning bitcoin mining or ETF delay or US banning owning Bitcoin.
If this is a bear market rally, then Bitcoin most likely sweeps that high around $48,700 at the .618 and that's all she wrote.
If this is a bull market rally, I think that the .618 is a good level to start hedging for a bit of a sell off to reload as is historically a strong level to do so.
If we break and close above it, then I think new highs are most likely and I have my own target in mind for that, but I can share that at some other time.
Especially with the current market environment of inflation, money printing and the spot ETF and halving narratives.