The rally of BTC to 34K by reaching new ATH (almost every day) is a happy event for many in the crypto community. However, what goes up must come down.

Whatever story you are believing at the moment, this is an unnatural growth of an asset. 

There are a couple of things which are not good indicators in this monthly chart:

• Previous ATH Level has not been tested as support. 
• When things look too good to be true, they probably are not.
• Whenever you would have bough BTC (even yesterday), you are in profit. 
• Look at how many times in the past, the support/resistance (violet boxes) have been tested.

When a correction happens (and it will happen) expect:

• The whole altcoin market to go down.
• A really deep correction (even as low as 6-10K) if the Tether is taken out.
• Massive losses for people who bought over 20K.
• Unrealized gains, for people who were too greedy to sell.

This post is maybe unpopular opinion, but I guess time will tell. This is my analysis, reasoning and is not financial advice whatsoever, but the other side of the coin (pun intended).