CryptoBullet
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CryptoBullet
#BTC broke the Upward Channel on the weekly. Mid term trend change confirmed ๐Ÿ“‰
๐Ÿ“20 days ago I warned you about the trend change on #BTC ๐Ÿ“‰

What do we see now? #BTC broke the 200-Week MA. MACD crossed bearish

Moonboys in disbelief ๐Ÿ˜ญ
#BTC 1W 2019 v 2023 comparison

- Same Echo Bubble.
- Same Breakout Candle.
- Same 147 days of uptrend until MACD crossed bearish.

Probably nothing
CryptoBullet
#BTC 1W 2019 v 2023 comparison - Same Echo Bubble. - Same Breakout Candle. - Same 147 days of uptrend until MACD crossed bearish. Probably nothing
In 2019 #BTC rallied 360% and this year we have seen a rally of just 100%. Why? ๐Ÿ‘‡

In 2019 #BTCโ€™s Market Cap was around $70B at the bottom.

In January 2023 #BTCโ€™s Market Cap was $330B.

Feel the difference?

๐Ÿ’ก As an asset gets heavier, more capital is required to move it (diminishing returns). This is why I think we didn't get the same +360% pump, only +100%
Very important 3 days ๐Ÿ‘€
CryptoBullet
Very nice weekly close on the $BTC Dominance! First bearish engulfing candle in a while ๐Ÿ˜
Painful breakout on the $BTC Dominance ๐Ÿ˜“

Yes, thereโ€™s a potential bear div, but itโ€™s not confirmed yet so nothing to talk about
CryptoBullet
Very important 3 days ๐Ÿ‘€
Nice! CPI is lower than expected
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CryptoBullet
Very important 3 days ๐Ÿ‘€
โšก๏ธFederal Reserve keeps interest rates unchanged

Good, but no surprise here
#BTC 1D chart

My expectations for the next few months๐Ÿ‘‡

I still think the Key Support will hold for now and weโ€™ll see a Relief Rally (Bull Trap) this summer

๐Ÿ’ญ Eventually the Support will break and #BTC will most likely drop below its March low
โšก๏ธ $10 trillion BlackRock officially files for spot #Bitcoin ETF

Good news. Maybe by 2025 the SEC will approve it lol ๐Ÿ˜‚
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One more #Bitcoin ETF application

This time Bitwise refiles for Bitcoin spot ETF following BlackRock

Are we back in 2018 or what? ๐Ÿ˜‚
#BTC 1W
So, we have a whole weekly candle open & close below the MA200 ๐Ÿ˜ฌ๐Ÿšฉ

However, I like the shape of the candle (bullish Hammer) and the fact that #BTC held the EMA21, but what we can get is just a bounce imo

Thereโ€™s a nice Falling Wedge which should breakout soon. Target on the chart ๐ŸŽฏ
$XRP Macro Chart

Striking resemblance between the current and previous cycles

I think $XRP will lose its main Support line like it did back in 2019 ๐Ÿ“‰

๐ŸŽฏ Downside target is $0.22 (conservative)
CryptoBullet
It doesnโ€™t mean #BTC will drop like a rock today or tomorrow I think #BTC will stay above the Key S/R Level for quite some time before breaking it ๐Ÿ“‰ Hereโ€™s what Iโ€™m expecting: a Dip into the $24-25k area -> strong Bounce (Bull Trap) -> Drop to $20k #Altsโ€ฆ
This is the initial post โ˜๏ธ

Back in May I predicted the dip into the 24-25k area and a Strong Bounce weโ€™re having right now ๐Ÿ˜Ž

For now there's no bearish confirmation, so I'm in no rush to go short. I need to see a bearish confirmation first