Yesterday, a big bullish candle changed the belief, many brothers changed their views, began to charge oil and continue working, is this appropriate? How will the market move next?
First, gold seems to have stalled in its upward movement. The target price of $3500 we mentioned last week was precisely hit. After peaking at $3500, gold entered a phase of massive volatility. According to our previous analysis, the bullish trend in gold is nearing its end. A portion of funds and attention will flow into BTC, bringing positive news. Various signs indicate that sovereign wealth funds and publicly listed companies, along with American elites, are increasing their holdings in BTC through ETFs and the spot market, while retail investors are selling BTC. Currently, countries like El Salvador and Bhutan have included Bitcoin in their foreign exchange reserves. More details on the BTC strategic reserves in the U.S. will emerge in May, bringing positive news. Some state governments in the U.S. are also promoting related legislation. While purchases may not commence this year, many states in the U.S. may start buying BTC next year. From on-chain data, BTC has been flowing out of exchanges from yesterday to today, but stablecoins are also flowing out. Altcoins remain risky; if BTC pulls back, altcoins may suffer even more. Therefore, we advise everyone not to chase after some surging meme coins. Currently, it is recommended to hold more than 50% of your position in BTC, and the altcoin position should not exceed 30%. Just be patient and hold on for the rise! For those who haven't entered yet, do not buy all at once; be cautious of a pullback and consider buying in batches daily.
