The chart for the last range played out already, so now creating a new chart to focus on price action over the coming month or two.
We ended up tagging the $58.2k support on the bottom of the range and have since bounced higher. I think it's likely that price action will continue up until the $66k resistance.
If price can't break above that level, then I think that sets up the potential for one final move down before we see a new high. The levels to look for on the support side would be
54K
,
52K
on the chart. I'd anticipate this move playing out between the next couple of days and the middle of May.
After that level gets hit, then I'd expect a fairly fast run up into new highs at the $76k-78k range. So I plan on bidding heavily into that support region, should it happen.
That should be the final top for this cycle.
We ended up tagging the $58.2k support on the bottom of the range and have since bounced higher. I think it's likely that price action will continue up until the $66k resistance.
If price can't break above that level, then I think that sets up the potential for one final move down before we see a new high. The levels to look for on the support side would be
54K
,
52K
on the chart. I'd anticipate this move playing out between the next couple of days and the middle of May. After that level gets hit, then I'd expect a fairly fast run up into new highs at the $76k-78k range. So I plan on bidding heavily into that support region, should it happen.
That should be the final top for this cycle.
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Looks like we're headed to
54K
54K
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Incase you're wondering, I still think we go test $54k.
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If this happens, alts should bleed another 30%+. I'm in cash.
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Relooking at the chart, we likely chop until May 29th, then see next leg down after that.
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Updated chart here after reassessing price action:
