Hi,
The sellout was expected and I presented a basic chart for BTC months ago based mostly on a macro view showing that.
Now the same way I was bearish then, I am bullish now. I think in the year of trillion dollars per month printing, there is no reason why cryptos would keep selling here.
As you can see in the Total Market Cap chart, we have not only hit the 50% retracement from the beginning of the last impulse since last year, but we are also bouncing in the 200sma. That is quite a combination IMO.
I think we will trend higher from here.
We will see if it does soon.
The sellout was expected and I presented a basic chart for BTC months ago based mostly on a macro view showing that.
Now the same way I was bearish then, I am bullish now. I think in the year of trillion dollars per month printing, there is no reason why cryptos would keep selling here.
As you can see in the Total Market Cap chart, we have not only hit the 50% retracement from the beginning of the last impulse since last year, but we are also bouncing in the 200sma. That is quite a combination IMO.
I think we will trend higher from here.
We will see if it does soon.
