1. In short order, we see a large BTC spike with strong inflows. This is my most preferred scenario, but I would not trade BTC until I get this confirmation. To be very safe, I will only trade BTC should we breach 42k. I know I will miss some upside gains, but if we breach 42k I see us going straight to 50k and beyond so in retrospect missing out on a few % won't matter much.
2. Gradual rise in BTC price to 42k, meanwhile DeFi tokens keep rallying. This is currently what has been happening. If you hold bluechip DeFi tokens like
ALPHABTC
,
AAVEBTC
,
SNXBTC
,
SUSHIBTC
you are doing very well and will possibly continue seeing insane gains as this trend could continue.
3. BTC price drops along with everything else. If we don't see BTC breach key resistance levels then we will fall to retest key support levels.
At this stage, we need to be patient and wait for the charts to tell us the next move to make and adapt accordingly.
2. Gradual rise in BTC price to 42k, meanwhile DeFi tokens keep rallying. This is currently what has been happening. If you hold bluechip DeFi tokens like
ALPHABTC
,
AAVEBTC
,
SNXBTC
,
SUSHIBTC
you are doing very well and will possibly continue seeing insane gains as this trend could continue. 3. BTC price drops along with everything else. If we don't see BTC breach key resistance levels then we will fall to retest key support levels.
At this stage, we need to be patient and wait for the charts to tell us the next move to make and adapt accordingly.
Comment:
For now, nothing has changed. BTC needs to breach 42k. If it does not then BTC will dip to retest past supports. 30k has held really strong. If BTC retests 30k and it holds (again) then this would lead me to assume we are in an extended period of consolidation. If this should happen I see the market's attention turn to ETH and other DeFi bluechips. For now, just have to patient and let the market tell us the next move.