Thoughts on the market as of 02/09/2024.
Bitcoin continued to grow, and not only consolidated above 45200, but also updated the local maximum at 46384, and at the time of writing the Review it is around 46100.
Market capitalization is 1.696 trillion, Bitcoin dominance index is 53.3% (maximum since January 9).

After leaving the range, Bitcoin continues to rise. The price of the main cryptocurrency returned to the levels from which it fell after the ETF pump. Then, after a short rise above 48K, the price first returned to the 46-47K area, and then flew lower.

If we consider the situation from the beginning of the year, then at first there was growth in anticipation of the adoption of the BTC-ETF, after the adoption of the Bitcoin-ETF there was a drain, then 10 days of accumulation in the range of 42000-43500, then an exit from the range upward and organic growth. So far everything is happening exactly as described in this article back on December 5th.

Yesterday, the Bitcoin ETF closed up 2.7%.
Interestingly, Bitcoin's rise to 46K occurred again after the closure of the BTC-ETF. It seems that after the opening of trading, the price of IBIT will catch up with the spot, which, in turn, will spur the growth of Bitcoin on the spot today. Nice scheme, I like it).

True, there are 48K ahead. From this level in January they flew to 38500, and in the spring of 2022, after an unsuccessful attempt to consolidate above 48K, and much lower.
It is clear that this is not the case now, but in order to transition to sustainable medium-term growth towards the goals of the year (50K+ and ATH), it is necessary to confidently consolidate Bitcoin above 48K, and consolidate the crypto market capitalization above 2 trillion.

The goals are quite realistic and can be achieved in the near future. Although if the road to these goals is not entirely straight, but through another rollback below 45K, this does not change anything.

The alts are still weak, Ethereum cannot gain a foothold above 2460, the Bitcoin dominance index is growing. During the day, growth was shown by DYM, BTT, STX, and everything else was practically in place. And can be used as an opportunity for those who did not buy Bitcoin because they expected it to be cheaper).

If Ethereum is fixed above 2500, and especially if Bitcoin is fixed above 48K, we will see good growth of the entire market.

The priority option for today is Bitcoin in a range with a lower limit at 45200-44800 and an upper limit at 47800-48200
An alternative option is to consolidate above 48200
The Bitcoin position scored below 40K is still with me.

Analytics from One Good Trade are published daily on our “Margin” and “Altseason” channels.
Thoughts on the market as of 02/09/2024. Bitcoin continued to grow, and not only consolidated above 45200, but also updated the local maximum at 46384, and at the time of writing the Review it is around 46100.
Market capitalization is 1.696 trillion, Bitcoin dominance index is 53.3% (maximum since January 9).

After leaving the range, Bitcoin continues to rise. The price of the main cryptocurrency returned to the levels from which it fell after the ETF pump. Then, after a short rise above 48K, the price first returned to the 46-47K area, and then flew lower.

If we consider the situation from the beginning of the year, then at first there was growth in anticipation of the adoption of the BTC-ETF, after the adoption of the Bitcoin-ETF there was a drain, then 10 days of accumulation in the range of 42000-43500, then an exit from the range upward and organic growth. So far everything is happening exactly as described in this article back on December 5th.

Yesterday, the Bitcoin ETF closed up 2.7%.
Interestingly, Bitcoin's rise to 46K occurred again after the closure of the BTC-ETF. It seems that after the opening of trading, the price of IBIT will catch up with the spot, which, in turn, will spur the growth of Bitcoin on the spot today. Nice scheme, I like it).

True, there are 48K ahead. From this level in January they flew to 38500, and in the spring of 2022, after an unsuccessful attempt to consolidate above 48K, and much lower.
It is clear that this is not the case now, but in order to transition to sustainable medium-term growth towards the goals of the year (50K+ and ATH), it is necessary to confidently consolidate Bitcoin above 48K, and consolidate the crypto market capitalization above 2 trillion.

The goals are quite realistic and can be achieved in the near future. Although if the road to these goals is not entirely straight, but through another rollback below 45K, this does not change anything.

The alts are still weak, Ethereum cannot gain a foothold above 2460, the Bitcoin dominance index is growing. During the day, growth was shown by DYM, BTT, STX, and everything else was practically in place. And can be used as an opportunity for those who did not buy Bitcoin because they expected it to be cheaper).

If Ethereum is fixed above 2500, and especially if Bitcoin is fixed above 48K, we will see good growth of the entire market.

The priority option for today is Bitcoin in a range with a lower limit at 45200-44800 and an upper limit at 47800-48200
An alternative option is to consolidate above 48200
The Bitcoin position scored below 40K is still with me.

Analytics from One Good Trade are published daily on our “Margin” and “Altseason” channels.