Kiss the 200MA one time and then kiss it goodbye
As we all know, alt season is in full swing and about to come to an end (you too, DOGE). Maybe not for a couple more weeks, but imagine Litecoin will have a blowoff top and that will end the fun and games.
Once altseason ends, very possible we get an alt sell off which brings the whole market down, BTC included.
I remain bullish overall, and we can easily see a new higher high in Bitcoin with for example an announcement of an ETF, or the US fed switching the reserve currency to bitcoin... but in all likelihood, the ETF announcement does not happen until June (which will cause a massive buy opportunity for BTC potentially), and for now we are at the BEARlin wall.
58k is the top for bitcoin right now, and I foresee a move to 40-43k, which is at the 200 MA, and from there a big pump up (maybe on ETF announcement in June), and a handle of sorts to create a beautiful inverse H&S to put us back on track and into the bull market.
Best of luck trading.
C
Once altseason ends, very possible we get an alt sell off which brings the whole market down, BTC included.
I remain bullish overall, and we can easily see a new higher high in Bitcoin with for example an announcement of an ETF, or the US fed switching the reserve currency to bitcoin... but in all likelihood, the ETF announcement does not happen until June (which will cause a massive buy opportunity for BTC potentially), and for now we are at the BEARlin wall.
58k is the top for bitcoin right now, and I foresee a move to 40-43k, which is at the 200 MA, and from there a big pump up (maybe on ETF announcement in June), and a handle of sorts to create a beautiful inverse H&S to put us back on track and into the bull market.
Best of luck trading.
C
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