Greetings fellow traders, it is I, your ever-so-humble market guru, back again to share my insightful analysis on the recent Bitcoin correction. As I gleefully mentioned in my last post, we have spent the last 3 weeks correcting from ~$25,262 where BTC was rejected by the 200 week moving average. And let me tell you, I called it! (Cue self-congratulatory back-patting.)
We've seen a correction of approximately 13.5%, but fear not my dear friends, for we are now sitting at support levels between $21,300-$21,600. This is where I sharpen my teeth and grind out the chop like a seasoned butcher, ready to carve up some profits. But enough about me, let's talk about Bitcoin.
It's all about the 22K level by April 15th, my friends. Whether we are below or above that level will be very telling of the future direction of BTC. And for now, the 50 week and 200 week moving averages are stubbornly acting as resistance, while the 21 week and 200 day moving averages are playing nice and acting as support. It's like a game of tug-of-war between the bulls and the bears, and I'm here for the show.
Is it a pennant or a bull flag? Who knows, and frankly, who cares? It's getting interesting, and that's all that matters. So sit back, grab some popcorn, and enjoy the ride. Because with me at the helm, you know we're in for a wild and entertaining ride. Cheers to profits and confusion, my friends!
We've seen a correction of approximately 13.5%, but fear not my dear friends, for we are now sitting at support levels between $21,300-$21,600. This is where I sharpen my teeth and grind out the chop like a seasoned butcher, ready to carve up some profits. But enough about me, let's talk about Bitcoin.
It's all about the 22K level by April 15th, my friends. Whether we are below or above that level will be very telling of the future direction of BTC. And for now, the 50 week and 200 week moving averages are stubbornly acting as resistance, while the 21 week and 200 day moving averages are playing nice and acting as support. It's like a game of tug-of-war between the bulls and the bears, and I'm here for the show.
Is it a pennant or a bull flag? Who knows, and frankly, who cares? It's getting interesting, and that's all that matters. So sit back, grab some popcorn, and enjoy the ride. Because with me at the helm, you know we're in for a wild and entertaining ride. Cheers to profits and confusion, my friends!
Fell through the floor.