Daily: Ain't no sunshine when she's gone edition.

I'm not trying to change anyone's view. Just keeping my own updated.

- CC

Trade active:

People will attribute the crash to Elon developing an environmental conscious regarding BTC but reality is 75% of the worlds miners use clean energy to turn a profit.

The truth is this was always going to happen, watch the 200 MA on the daily.

Trade active:

I was 3 days early on this one (Y) but the price level hit perfectly.

RSI is very low on the daily so an impulse wave up to resistance 49k-51k region is required before the next leg down to meet the daily 200 MA at 42k, that's the #BTC alamo in early June.

Comment:

Now everyone on TradingView is posting negative reports of BTC's imminent demise and the right media environment is in place to facilitate a complete lack of confidence in the market we are seeing things start to accelerate even beyond my initial projections.

The magnet of this event is the Daily 200 MA, there will be an opportunity for the market to prop itself up at this level as it tried to do so at the EMA but failing to do so will mean the confirmation the bull cycle is over.

I expect one more impulse wave up to secure the RSI for the final push to the 200 MA, then it's all in to the Highway to the Danger Zone.

Side note; the alt market is likely to get a very short window of rapid growth as BTC descends. Some very interesting plays on some of the smaller coins such as RVN that you should probably look into but don't overstay your welcome. This house of cards is coming down before the summer really starts.

Comment:

I'm not going to pretend I got the timing correct on this but as you can see in this image every single price level I placed on this chart was hit successfully, much earlier than expected.

pasteboard.co/K3LzuDb.png

I now have a significantly better chart you can find linked below so I'll be closing this for now despite the trade very much still being active.

Trade closed manually