The price of Bitcoin moved above all possible resistance levels!
Social media boost FOMO!
Everything looks amazing!
Bitcoin is moving to the Moon...
But I stay bearish)
Not because I'm an idiot. Just because I don't want to be cheated by manipulators and follow fake dreams.
For months my position stayed the same: FOR THE REAL BULL RUN THE CRYPTO MARKET NEEDS BULLISH MACRO!
It's the foundation of any trend movement in any market.
We need to see a RISK ON mode and tons of money moving to the risky assets.
Do you see it right now?
From my point of view, we are not ready for the real bull run.
And now we see just a good manipulated rally supported by the Bitcoin ETF and the upcoming halving events.
Any time, the manipulator can switch off such "news", add FUD around Binance and we will see the great dump!
It's simple.
So, from my point of view, the top of the rally is around $48 000 - 50 000. If the price moves above the ATH, I will be surprised.
And that's fine! I can be wrong with my understanding of the crypto market. Yes, it's the most manipulated market in the World, but sometimes it likes to move against the logic and surprise us.
That's why I use the proper risk and money management where diversification plays the key role.
Even if I'm wrong and Bitcoin really moves to the Moon, I will be able to make money from other types of trading.
But again, I don't see fundamental reasons for the real bull run. And I follow this statement.