Thoughts on the market as of 02/13/2024.
Bitcoin, after updating its highs of the year at 50368, stabilized in the range of 49550-50200 last night.

Market capitalization 1.81 trillion, dominance index 53.9%, fear index 79
Bitcoin has reached heights it hasn't seen since December 2021. This was quite expected (it was said on the channel that Bitcoin would reach 50K in 2024 back when it was worth 21-22K.
And then it was repeated several times).

But for the market crowd (especially those who dumped Bitcoin below 40K in late January), it came as a shock. FOMO shopping begins, and the greed index has reached extreme values ​​(October 2021 levels). In such a situation, a healthy correction suggests itself to at least 46-48K, with many liquidations, improvement of the audience and subsequent continued growth.

But it’s not a fact that right now. I think closer to the end of February or beginning of March. And, most likely, the reason for the correction will come from the stock market.

Firstly, the market cycle is not over yet. Alts have not yet responded to Bitcoin’s rise above 45K. Even Ether is extremely low relative to Bitcoin, not to mention most other assets.

Secondly, it is difficult to fall when BTC-ETFs from investment monsters are sucking Bitcoins out of the market with the performance of an industrial vacuum cleaner. And among other market participants there are more and more people who correctly understand the situation and prospects of the main cryptocurrency.

BTC-ETF closed yesterday with a profit of 5.56%. The S&P 500, after updating its highs, has stopped growing, but remains above 5000. CPI data for January will be released today.

The forecast is extremely low (2.9%).
If this happens, the stock market may move to new highs. If the CPI comes out worse (higher) than the forecast, increased volatility is possible.

The important level of 2 trillion is ahead. by capitalization. After taking it and consolidating it, we can talk about moving on to the second part of the plan for 2024 - updating the ATH.

But it’s not a fact that we’ll take it the first time. The previous attempt to take 2 trillion capitalization was at the end of March 2022 and ended so-so).

The priority option for today is Bitcoin in a range with a lower limit at 49500-49300 and an upper limit at 50800-51100
An alternative option is to consolidate below 49500
The position on Ether, which I talked about yesterday, now looks like this.

Analytics from One Good Trade are published daily on our “Margin” and “Altseason” channels.
Thoughts on the market as of 02/13/2024. Bitcoin, after updating its highs of the year at 50368, stabilized in the range of 49550-50200 last night.

Market capitalization 1.81 trillion, dominance index 53.9%, fear index 79
Bitcoin has reached heights it hasn't seen since December 2021. This was quite expected (it was said on the channel that Bitcoin would reach 50K in 2024 back when it was worth 21-22K.
And then it was repeated several times).

But for the market crowd (especially those who dumped Bitcoin below 40K in late January), it came as a shock. FOMO shopping begins, and the greed index has reached extreme values ​​(October 2021 levels). In such a situation, a healthy correction suggests itself to at least 46-48K, with many liquidations, improvement of the audience and subsequent continued growth.

But it’s not a fact that right now. I think closer to the end of February or beginning of March. And, most likely, the reason for the correction will come from the stock market.

Firstly, the market cycle is not over yet. Alts have not yet responded to Bitcoin’s rise above 45K. Even Ether is extremely low relative to Bitcoin, not to mention most other assets.

Secondly, it is difficult to fall when BTC-ETFs from investment monsters are sucking Bitcoins out of the market with the performance of an industrial vacuum cleaner. And among other market participants there are more and more people who correctly understand the situation and prospects of the main cryptocurrency.

BTC-ETF closed yesterday with a profit of 5.56%. The S&P 500, after updating its highs, has stopped growing, but remains above 5000. CPI data for January will be released today.

The forecast is extremely low (2.9%).
If this happens, the stock market may move to new highs. If the CPI comes out worse (higher) than the forecast, increased volatility is possible.

The important level of 2 trillion is ahead. by capitalization. After taking it and consolidating it, we can talk about moving on to the second part of the plan for 2024 - updating the ATH.

But it’s not a fact that we’ll take it the first time. The previous attempt to take 2 trillion capitalization was at the end of March 2022 and ended so-so).

The priority option for today is Bitcoin in a range with a lower limit at 49500-49300 and an upper limit at 50800-51100
An alternative option is to consolidate below 49500
The position on Ether, which I talked about yesterday, now looks like this.

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