WildMonk

$BTC The king continues to consolidate. Last week we perfectly tested the marked $56-$57k area. But $BTC has not made it sustainably above $60k. > Further consolidation between this area & $60k. The volume is just steadily dropping. Which could indicate a flash move in the future. What should we look out for now? Area of $56k - $57k It seems as if $BTC wants to touch this area again. However, the more often this area is touched, the weaker it becomes. This means: The probability of leaving this level to the downside is now increasing. If $BTC touches this area again, a strong bounce would be desirable. Demand zone $50.7k - $52.7k If $BTC touches the $56k-$57k area again & doesn't bounce strongly, more downside is likely. The next logical level here would be the deman zone at $50.7k - $52.7k. I think that a test of this area would be possible. At the same time, imo, it'd also be the point at which $BTC would have refueled enough to start its journey to the 70's. Many orders are placed in this area & are waiting to be filled. We've already seen a strong bounce here & will see it again. This would also complete the formation of a W I was expecting. What to do with #altcoins? Many altcoins are currently at solid HTF key levels. If #altcoins are to be accumulated, then I'd insist on them. I'd only monitor altcoins that have broken through all their supports for the first time. Depending on the behavior of these underperformers in a bounce, I'd either consider an investment or not. > strong bounce > investment makes sense > weak bounce > delete them from watchlist Our goal should be to go with the best #altcoins for the next leg up. These will certainly not be the ones that have broken through all levels & are just bobbing along. How is my mood? Nothing has changed in my mood. I already mentioned it a few times that the summer times are ALWAYS choppy for $BTC. I already made an analysis here. So I'm fine with the movement of $BTC. I didn't expect anything else. My mood is neutral. I'd be more bearish if we'd close candles below the demand zone of $50.7k - $52.7k. I'd be more bullish if we'd close candles above the $63k. Have a great start in this new week, Wealthies!