a fractal that most of us overlooked(including me) seen in in Red Boxes. Since this market has alots similarities with the market of 2014-2016. The 2014-2016 will be the cope. The big question of the current BTC market compared to the 2014-2016 is that todays move looks familiar as seen below with blue boxes, espcially the weekly pin bar close in 2014-2016, could indicate that this weeks candle could end like that.
Many TA show strong signals that BTC has bottomed, same could be said about the TA's that indicate that BTC is heading to 2k or lower and in order to break 5k-6k wall BTC needs to retrace lower than 2500.
Returing to todays movements the best option for BTC atm is to consolidate rechecking 4k support and the 200 MA daily support at 3500.
The catalyst for BTC to 100% convince most of the traders is that there must be very good news. Yesterday SEC postponed the ETF approval to may 16th. This news tells us that BTC is able to consolidate until then. Approving ETF, BTC will spike to breach 6k. Otherwise we know the result.
Always invest money that you can lose without having a emotion.
"Every failure brings with it the seed of an equivalent succes" - Napoleon Hill
Many TA show strong signals that BTC has bottomed, same could be said about the TA's that indicate that BTC is heading to 2k or lower and in order to break 5k-6k wall BTC needs to retrace lower than 2500.
Returing to todays movements the best option for BTC atm is to consolidate rechecking 4k support and the 200 MA daily support at 3500.
The catalyst for BTC to 100% convince most of the traders is that there must be very good news. Yesterday SEC postponed the ETF approval to may 16th. This news tells us that BTC is able to consolidate until then. Approving ETF, BTC will spike to breach 6k. Otherwise we know the result.
Always invest money that you can lose without having a emotion.
"Every failure brings with it the seed of an equivalent succes" - Napoleon Hill