Due to my busy schedule, I could not share it on my blog or in other media, but since the Bitcoin agenda is busy, I think it is necessary to examine it at least technically.
He is looking for ways to get out of the Bitcoin ETF news in a safe way. News comes, news is denied, Bitcoin rises, Bitcoin falls. Everyone is confused about what to do. My strategy on this matter is fixed.
I have a certain amount of Bitcoin and a certain amount of cash in my pocket. Finally, I am looking for an opportunity to convert cash into Bitcoin. I have a point in mind about where the opportunity will arise, and I have expressed this point many times. Nothing has changed. If we look at the start of the run in 2020, we can see that Bitcoin retreated to the long-term moving average twice in preparation for the run. However, since the beginning of the run, Bitcoin has only retreated to the short-term moving average.
Conservatively, I expect a pullback to the 40k level. I see the continuation of the rise as long as there is no closure under this moving average in the weekly time range.
The more Bitcoin squeezes and the longer its rise is delayed, the stronger the bounce of Altcoins will be.
BE CAREFUL NOT TO PLACE INSTANT TRANSACTIONS IN SUCH UNCERTAIN TIMES, AND NOT TO BE FOOLED BY MOMENTARY WICKS. DO NOT PERFORM OTHER THAN DAILY AND WEEKLY CANDLE CLOSING.