Bitcoin Rally: Be Wary

Price Does Not Equal Sentiment

Author

Alpha 12 Team
March 12, 2024

Market Overview:

Bitcoin is above $70,000 for the first time in its history and it appears to be unstoppable.

Yet it is at times like this that you need to be the most alert, wary, and least complacent.

Positive price does not always mean positive sentiment. You should not feel excited, yet vigilant that things might switch soon.

Prices being elevated for this long has attracted the attention of the mainstream news which is going to suck in all the unsophisticated retailers thinking the time is finally right to buy, only for the market to screw them over.

Do not be under the delusion that because price has been going up nonstop that we are now in a new paradigm that “things are different" or that the ETFs have changed everything. This is a psychological trick and you need to be aware of it.

Look at the data we have compiled for you below and make the judgement for yourself.

We are still bullish over the course of the 2024-2025, yet we believe in the short-term things are due for either a correction or a lengthy period of chop and consolidation.

On another note, one of our altcoin holdings in the Optimal Holdings section is up 600%! Congratulations to all who followed our signal.

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