The boring movements that turned into a nightmare and have continued since the end of March actually have a name. to this crab market It is called and it has had extremely devastating consequences for altcoins. Some altcoins This year, it fell below the 2023 lows. But this nightmare is ending now. What are the experts’ final evaluations?
Crypto Crab Market
In his latest cryptocurrency market assessment, The Gaussian Snek mentioned that the cup handle model, which dates back two years, now points to a new bullish period. Moreover, what fuels upward motivation is not limited to this. Bitcoin 
$68,412 The increasing correlation of the price with the S&P 500 and the recovery there point to the end of the current dull movements.
“The downward wick, which went down to $48,000 a few months ago, was bought very quickly. Depending on how you draw the lines, Bitcoin may have broken out of its descending expanding wedge. Many other technical indicators are screaming bullish. Barring a black swan event (always a possibility, but you can’t really plan for it), I can’t understand those defending the bear thesis right now.
“If anything, we are entering a proper bullish wave from the crab market.”
Encouraging investors to enter at points close to $ 57,000, Crypto Tony mentioned that the local top may be marked soon. If he turns out to be right, this will be annoying. In the scenario where the possible pullback quickly gains $66,000, it may be possible for the price to target resistance to break this time with higher lows.
Bitcoin Will Fall
It sounds terrible, but the latest assessment posted by Kyle points to a local top due to increasing unrealized short-term gains. That’s probably one of the things Tony and other local hill-watchers are looking at. But if the rally accelerates, short-term gains could be offset by those expecting more and increased demand.
“BitcoinA “local top” in indicates a possible price peak before a decline.
With unrealized profits exceeding $7 billion, investors may turn to cash, increasing short-term selling pressure. “Historically, when unrealized profits rise, we often soon see a decline as investors cash out their gains.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
