Bitcoin

Divergence

<ul>
 <li>Bitcoin's weekly chart shows a bearish divergence, signaling a potential 20-30% drop.&nbsp;&nbsp;</li>  
 <li>Analysts expect a significant downturn as Bitcoin nears key resistance levels.&nbsp;&nbsp;</li>  
 <li>A Bitcoin decline may trigger a four-month ALT season, with altcoins potentially surging.</li> 
</ul>  
<p><a href="https://cryptonewsland.com/bitcoins-battles-over-60k-mark-navigating-the-current-crypto-climate/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin's weekly chart</a> is flashing warning signs of an impending drop. The bearish divergence is unmistakable, with red lines illustrating the growing gap between price and momentum.&nbsp;</p>  
<p>As Bitcoin approaches the blue resistance line, marked by the blue circles, analysts are preparing for a significant downturn. The market has seen similar patterns before, and Bitcoin could be headed for a sharp decline.</p>  
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<h2 class="wp-block-heading" id="h-alt-season-expected-to-last-four-months">ALT Season Expected to Last Four Months</h2>  
<p>As Bitcoin prepares for a potential drop, altcoins could be gearing up for a rally. The last major <a href="https://cryptonewsland.com/altcoin-season-ahead-how-to-achieve-40-100x-returns/" target="_blank" rel="noopener noreferrer nofollow">ALT season</a> in 2021 spanned around four months and was marked by a sharp decline in Bitcoin's dominance.&nbsp;</p>  
<p>This historical pattern suggests that we might witness a similar ALT season in the coming months, with Bitcoin's drop setting the stage. Investors could see altcoins surge as Bitcoin pulls back, offering opportunities for gains in the short term.</p>  
<h2 class="wp-block-heading" id="h-targeting-a-20-30-drop-for-bitcoin">Targeting a 20-30% Drop for Bitcoin</h2>  
<p>The expected decline in Bitcoin is projected to be between 20-30%, as indicated by the pink box on the chart. <a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI" target="_blank" rel="noopener noreferrer nofollow">The RSI</a> is also expected to hit the 20 level, which is at the bottom of the current channel.</p>  
<p>This would align with the historical patterns observed in past market cycles. However, these market shifts happen quickly, often catching traders off guard.&nbsp;</p>  
<p>The phrase "blink, and you will miss it" rings true in these scenarios, as years of market movements can culminate in just a few months. As the market braces for these developments, staying informed and vigilant will be crucial.&nbsp;</p>  
<p>Bitcoin's <a href="https://www.investopedia.com/articles/trading/04/012804.asp" target="_blank" rel="noopener noreferrer nofollow">bearish divergence</a> may indeed set the stage for an explosive ALT season, but timing will be everything.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoins-bearish-divergence-signals-explosive-altcoin-season/" rel="noopener noreferrer nofollow">Bitcoin’s Bearish Divergence Sets the Stage for an Explosive ALT Season</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin’s Bearish Divergence Sets the Stage for an Explosive ALT Season

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