I have mentioned it multiple times – the next bull run will be triggered by a new giant downtrend for DXY. But FED increasing the rates is not in our favor… so let’s see the supports below us:
2022 bottom – everyone screamed for bullish December 2021, but we had a red December followed by a small crash in January 2022, causing panic and 10 000$ calls. The current price action has many similarities with January (also after a FED event) and the lows from the year opening are our support now at around 32500$. A must hold level, breaking of which will lead us to the rows below…
2021 bottom – you must remember the June-July 2021 dump after the memecoins season, right? Well, there is still a possibility for a revisit of these lows. They should hold, otherwise Bitcoin will do a test of the previous bull market high at around 20 000$.
Where to flip bullish? Don’t try to catch a falling knife. I will be full bull only when Bitcoin flips all daily moving averages as support (MA50, 100 and 200) + the 21 weekly EMA, also known as the bull market marker. Trade safe and don’t overleverage!