SEC Greenlights ETF but Breakout failed! / Be Aware!!!

🎉 ETF Approval: A Cause for Celebration or Concern in Crypto?

Hello, traders! Today's update comes with a blend of excitement and a touch of caution. 🎭 The long-awaited ETF has been approved, slicing through the SEC's comedy of errors. Yet, amidst the celebrations, a sentiment poll reveals a split view: 32% are elated 🚀, 42% content but expected more 😐, and I'm with the 19% feeling a twinge of disappointment 😔. Let's dissect the chart and today's happenings to understand why.

📉🚦🤔 The Missed Breakout: Bitcoin's Resistance Conundrum

Despite the bullish news, Bitcoin failed to rally past the crucial support/resistance level. This yellow line isn't just any marker; it's the one I've been spotlighting since January 2023. 🎯 It's where Bitcoin's fate hangs in the balance.

🔍 Technical Analysis: Seeking Direction in the Crypto Winter Aftermath

Our journey through the crypto winter revealed strong buy signals at $16K, $20K, with a confirmation dip at $24K, offering numerous chances to go long. However, with the ETF news failing to push us beyond the pivotal level, it's time to ponder – are we gearing up for a major breakout, or is it wise to 'sell the news'? 🤔

📈🚦 Strategic Outlook: Navigating the Crypto Seas

Here's the strategy moving forward:

Buy the Breakout: If Bitcoin ascends over $48,200, it's a green light. ✅🚀
Sell the News: If it lingers under 48K , caution is your best ally. 🛑📉

🔁 Shifting Focus: Ethereum's Emerging Narrative

Switching focus to Ethereum, the ETH/BTC chart hints at a shifting tide in altcoins, while Bitcoin dawdles at resistance. Whale psychology suggests that altcoins like Ethereum and Cardano could diverge from Bitcoin's path.

🔮 Anticipating the Halving: A Glance at Historical Patterns

In anticipation of April's halving, historical patterns imply we could witness Bitcoin soar to the $100K-$300K range. Yet, for now, the prudent move is to wait for a decisive breakout above $48,200 or brace for potential retracements to $42,800 or even $40,000. 🧐

🌐 Macro Perspective: The Bigger Picture in Crypto Dynamics

Keeping an eye on the macro scene, interest rates, and institutional moves post-ETF will be crucial. Remember, the market typically leads the news by six months. As we navigate these choppy waters, stay sharp and prepared to capitalize on both breakouts and pullbacks. 📊

🔔 Final Thoughts: Staying Ahead of the Curve
Just how we did Here and Here and Here and Here

One Love,
The FXPROFESSOR 💙

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things going to be complicated for a while

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updated chart.. selling pressure is on, we wait for entries

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Update coming Up

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BTC update