Bitcoin after an unexpected drop has quickly rebounded aiming to regain levels close to $40,000. Almost all the altcoins are also surging above their respective support levels, indicating the beginning of a strong uptrend. However, the current markets situation is a little vague and hence no clear indications are let out.
But it is not a good time to enter when the markets are about to wake up from the bottom?
The chopping markets do induce a notable momentum as the asset accumulate strength to pull a massive leg up. And hence entering a fair deal at the foothill of an uptrend does incur notable profits. Moreover, it may be more secure when the markets are ranging naturally instead of any hype or FOMO similar to 2021.
The popular analyst says the current phase is not led by any hype and hence it is the right time to enter. But at the same time, the current jump may be an interim one that could get faded very soon. As indicated by another analyst, who believes the BTC price to shed its gains very soon to hit $35K to $36K.
The analyst signals a plunge pre-programmed in the next couple of days, where-in the price may reach $35K levels. And hence the analyst believes that the levels around $35K to $36K is the better time to enter. Moreover, the analyst sets a target of $45K to extract the profits. This is when the Altseason may also kick in and until then it is better to be away from the market as suggested by the analyst.