Right now, most of you in the market, especially those who DO NOT KNOW what will happen in the market, are unsure where it will go.
Let's read and refer to my analysis to determine your direction.
I will get to the point and be "not" brief.
1. In the past, my posts predicted BTC price from 88,000$ and small rebounds in a large drop to the 75000$ area, with the current bottom price being 74500$, 500$ off from the 30k price range. Posts from 10-28/3 continuously mentioned 2 scenarios: breaking through 74k to 5-6x and a black swan event; if it hits 74-77k and bounces back, there won't be a black swan, so my overall view is that it has concluded at 75k.
If BTC drops more to 5x-6x, there will be a global economic recession and a series of terrible economic events.
2. Current view
If we talk about the above 2 options, I analyze the price to bounce back at 75k and the RECOVERY for the economy in general and crypto in particular "Has Started"
So what should we do now?
Slowly read on, there are more signs to come.
3. Technical and on-chain.
The price of BTC has broken up to 83k and has been moving sideways since this morning at 81-82k, which is very uncomfortable; some altcoins are soaring while others are collapsing unevenly.
Looking at the overall picture, I see 3 milestones.
-86600$ is a strong resistance; if it breaks, it indicates a price increase. (50%)
- 77600$ losing this milestone this week and closing a candle below 77000$ means it will drop to 6x next (40%)
- trading sideways 78-83k means the market continues to be stalled (10%)
Looking at the chart, there will be 2 price movement options.
4. Regarding the economy, political news impacts
Yesterday, the US made a high-profile move to let the world know that the USD is still the number 1 currency.
The money supply and assets directly in the hands of the people are increasing, indicating that the Fed is gradually easing; this is called total M2 supply (feel free to research), which usually explodes in 1-2 months.
And it is very likely that the US and China will soon reach a reasonable tariff agreement to end this tariff war, which will lead to breakthroughs in the economy after countries have accepted everything and focus on economic development.
And there are 2 scenarios that could occur.
Th1: good news tonight from the CPI report makes the Fed more dovish, reducing pressure on interest rates, which helps the market grow.
Th 2. Bad news from CPI, bad news from the US and China will cause the market to continue to plunge sharply.
5. How should we trade now, up or down?
Now there are 2 clear options for you to choose sides; to put it correctly, I provide assessments for you to choose from.
Resistance and support are quick as shown.
6. My "Personal" opinion.
You guys over there don't allow public here @@
So: I will call separately; where to call, you can copy my trades (displayed in the profile) then read the introduction. Binance prohibits writing.
The above is my analysis; you can choose your sides; if you're curious about which direction I choose and why, you can follow the guidance.
There will be a part 6 to read on (very long)