Moonbags Markets
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This channel is for my own personal thoughts only. Not financial advice. I take no responsibility for anyone's losses or gains. This channel will be forever free and I take no donations. Thank you. https://twitter.com/lordmoonbags
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As far as timing goes, I believe we have already begun a weekly downtrend since the top. However this was also the case after etf sell-off before it reversed hard before fully completing in normal fashion.
As I said before I think this model was meant to be broken eventually but it is still worth keeping in mind. Still. Downtrending.
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I think alts holding april 13th low would be an anomaly without BTC being bullish.
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Scenarios:
Most bullish: We just pump from here ofc
Bullish but unlikely: Btc holds 56.5k, Total3 flushes below April 13th low
Most likely: long chop/bleed to 52k btc, alts follow
Unlikely: Beginning of bear already happened
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Why would it do this?
That was the day of peak fiscal flows for the year
That was the day the most money was printed for the year
It has been dwindling down since
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Coincidentally, SPX has just tested the levels from that day and has acted as support since
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Repost from Wu Blockchain News
Mark Cuban: Gary Gensler and the SEC are trying to destroy the crypto industry. SEC decided to litigate to regulate rather than make any effort to increase compliance. The cost in time and legal fees to attempt to register and comply make it impossible to realistically operate. SEC makes it so expensive, time consuming and difficult for those who want to comply. — link
