#BTC The $TOTAL Crypto Market Cap has experienced a notable rebound, successfully holding at key support levels. However, a significant challenge lies ahead, with the daily 200MA/EMA and 2021 highs looming above. Bulls will aim to defend the green zone at all costs and ideally establish a higher low if the market consolidates in the near term.
#WhaleMovements JUST IN - 🇺🇸 President Trump's Executive Director on digital assets: "We talked about ways of acquiring more Bitcoin in budget neutral ways."
#BTC Bitcoin is struggling here with resistance. One last push down soon. 65/70K?
All alts are hinting at the same another push down. ONDO for example. On the daily chart. Has broken below 0.90c again while doing similar in the RSI. We want a backtest of that RSI downtrend. It marked the the bottom last time, will it again? Can the price uptrend hold? Let's see what happens. A dump is coming.
Could it be, that BitCoin whales are trying to flush out new retail investors to drive down pricing for the purpose of maximizing their buys because they expect a massive run up later in the year? Recent market activity has the appearance of a tsunami precursor. As if the water was receding when it is supposed to be high tide, but what is happening is that the offshore wave headed inland is rising, pulling in water from shore, building up a massive wall. Once that massive waves reaches shore, it floods the coastline with more water than it has ever seen, flooding the area. If this theory holds true, the tail end of this bull run toward the end of the year is going to be massive.
📊 NEW: All Bitcoin valuation metrics indicate that we are in bearish territory including the Bitcoin Bull-Bear Market Cycle Indicator, according to CryptoQuant.
Historically, these metric readings have signaled either a sharp correction or the start of a bear market.