In the rapidly changing world of cryptocurrency, calling the top of a bull market can be a dangerous game. A seasoned trader, known as The Flow Horse, recently shared some valuable insights on this topic, warning investors not to be too eager to declare the end of the current bull run. His perspective highlights why it’s often smarter to ride the wave than to try and time its crest—especially in a market as volatile and unpredictable as crypto.
The Risks of Calling the Top
The Flow Horse emphasizes that betting against the current momentum of Bitcoin, as well as broader market indicators like Gold futures and the Nasdaq, could be a costly error. He draws a parallel to the bull market of 2020, reiterating his mantra from that time: “If you are late to the break upward and having trouble entering, just buy and walk away.”
His words carry weight in the current market environment, where Bitcoin has surged, breaking through key resistance levels. One weekly close above those levels, he says, is often enough to trigger continued upward momentum. As he puts it, “The effectiveness of high timeframe acceptance is hard to argue.”
His key takeaway is blunt: “You are an idiot if you are calling tops right now.” Although many traders are tempted to call the top as the market reaches new highs, The Flow Horse reminds us that in the context of a long bull run, calling a peak too early often means missing out on substantial gains.
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Bitcoin’s Dominance and Its Impact on Altcoins
However, the trader doesn’t dismiss the possibility of altcoin recovery amidst Bitcoin’s rise. Bitcoin’s dominance over the market often pulls liquidity away from altcoins, making them struggle in the face of a BTC rally. Still, The Flow Horse sees potential in specific altcoins that might stand out.
One such project is Ethena (ENA), which he suggests could be in a good spot for bullish entries. His confidence in ENA’s potential comes from a technical analysis that indicates a favorable setup for continued upward movement. “Adding ENA here,” he noted, signaling his belief that the altcoin could see positive performance even as Bitcoin absorbs most of the market’s attention.
The Curious Case of MEW (Memecoin)
Memecoins are notorious for their unpredictability, but The Flow Horse has also taken an interest in MEW (Cat in a Dogs World), a memecoin that has already seen a 51% rise this month. While memecoins often thrive on social media hype, the trader highlights a pattern he finds compelling: a consolidation similar to the one that previously led to a price spike.
However, he remains cautious. “The MEW chop above prior highs seems less certain right now in the short term,” he admits. If MEW stalls too long at its current level, or if ENA fails to hold previous lows, he plans to reconsider his positions.
Overweight Bitcoin, but Don’t Sleep on Alts
Despite his interest in some altcoins, The Flow Horse makes it clear that Bitcoin is his primary focus. His strategy is simple: remain overweight in Bitcoin compared to altcoins. This makes sense given Bitcoin’s historical tendency to rally before altcoins catch up. Bitcoin’s influence on the market is undeniable, and as it pushes toward new highs, its gravitational pull can make altcoin investments riskier.
Betting against the current crypto bull market, especially Bitcoin, could be a grave mistake. Veteran trader The Flow Horse reminds us that trying to time the top is a dangerous game, particularly when the market’s upward momentum shows no clear signs of stopping. While altcoins like Ethena (ENA) and memecoins like MEW may offer opportunities, the safest bet for now seems to be maintaining a strong Bitcoin position.
For traders and investors alike, the message is clear: don’t try to predict the end of the bull market just yet—there’s still room to run.
