BTC before ETF approval

We're currently in ETF approval FOMO for bitcoin and this pump is only due to this because the market clearly need to retrace. That red dashed line has been on my chart for over 2 years now and I see it as a reaction zone. I've left two possible trajectories according with the retracement zone.

This recover is a sort of cup and according with Fib retracement, if BTC reaches 50K the pullback should bounce around the 37K area (0.382 Fib line zone) while if it retraces in the 35.5K zone (which is the low of that range you can see in the daily timeframe).

Also I want you to notice that the TMA on the weekly (here in screenshot not to make the chart too messy:

) has been pierced by price. In the past this led to a massive bull season but before there was a pullback (on weekly chart was basically 1 red candle which went -14%). I don't think it's the case, and even if I'm wront the TMA upper band should be retested.

What to do:
short time traders: if you're not long already you might be late, don't risk without stop loss
medium and long time traders: at this point wait

NOTE: I'm not trading BTC, I'm just buying the altcoins I think can do well in the upcoming bull season

Good luck

Comment:

BTC reaction to the ETF approval was slow, it's just starting to go up and test resistance. Weird that ETH pumped instead of Bitcoin. People switching attention to something left aside? I still expect liquidity swipe + sell the news. Follow me for more updates

Comment:

BTC is following exactly what I've been telling when the Crypto Community where screaming Bitcoin would have mooned after the ETFs Approval. Liquidity swipe ✅ Bearish closing w/ volume✅ pullback to at least 35K USDT ⏳
The same thing happened with the futures.

weekly:

daily: