Bitcoin Nears New Peak, Altseason May Erupt Simultaneously

1. Bitcoin Approaching Historical High

According to analyst Credible, Bitcoin is in an accumulation phase and is poised for a strong rally following the Elliott Wave model. BTC is currently trading around $107,417, aiming to surpass $110,000 before a slight correction to the $100,000 region. The current low volatility is seen as a foundation for a significant upward move.

2. Altseason May Occur Simultaneously

Despite concerns about altcoin liquidity, Credible believes capital will soon flow into these assets. He notes that similar doubts were raised when Bitcoin was at $26,000, yet the price surged afterward. Now, the same question arises for altcoins, and Credible believes history will repeat itself.

3. Technical Indicators Support Forecast

Technical indicators like RSI have entered the overbought zone, and some global liquidity indicators suggest that BTC's dominance may soon reverse. If Bitcoin's dominance decreases in the coming weeks, it could signal the start of a new altcoin season.

4. Conclusion – Great Opportunity for Investors

With Bitcoin nearing a new historical peak and signals indicating that Altseason may occur simultaneously, investors should be ready to seize this opportunity. However, caution is advised, and close monitoring of technical indicators is essential for making informed investment decisions.