Factually, technically, it is a bigger probability of downside than upside.

Put hope aside, trade carefully.

Careful from calls from groups on altcoins, they just might be getting you to provide exit liquidity

2018: WMA20-100. Led to 50% downside

Iim showing you what is in the charts. All you are looking for is in the charts. If the MAs continue like this, we might be facing ver similar situation to 2018

Lets see if support will hold.

Closing 4 red weeks in a row is something rare.

If we mimic 2018.

Yes i know onchain is bullish, whales accumulating, big things happening for crypto etc etc. The main thing here is the DXY, thats the main cause of markets getting fucked.

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Keep in mind that altcoins tend to not do so well against the btc pair and therefore it is riskier. As of now im not touching any of my longterm hodls. Only trading when i share with you guys and so far worked like a charm.

At about $39,649.10 on Sunday, Apr. 17th, Bitcoin has reached a vital support level that must hold to avoid significant losses.
From a technical perspective, BTC is testing one of its most significant support clusters, represented by the 200-day moving average at around $39,583.00 on the 3-day chart and the 78.6% Fibonacci retracement level at $38,531.60. Bitcoin must do everything in its power to hold above this support zone because slicing through it can result in a steeper correction to $32,853.80 or even $26,828.20. Keeping $38,531.60 as support can help the pioneer cryptocurrency rise to retest the 50-day moving average at $43,668.40.
On Binance Futures, the BTCUSDT Long/Short Ratio hovers at a 2.56 ratio as of Apr. 17th. Traders remain overly optimistic about the future price action as 71.91% of all accounts are net-long on Bitcoin.

If anyone was planning on loading up for a long on btc, the time is now with clear invalidation. however risk remains high.

Lets see

Daily close is very important

Building the fifth red week in a row (not seen in the BTC chart since 2014)