The drop to 47k really cleaned the market. Derivatives have been reset and still look relatively healthy. We are above the key resistance of 55k and 20 & 50 MA's, and though the funding has turned positive once again, it's not back at extreme levels.
On-chain data still looking bullish, strong spot bids and exchange outflows.
Seems like we will see continuation.
On-chain data still looking bullish, strong spot bids and exchange outflows.
Seems like we will see continuation.
Comment:
Ethereum looks even stronger than Bitcoin, and I have built a decent ETH position in the last 3 weeks. I believe the July EIP-1559 will be the driving bullish narrative and things could get crazy in May & June. Bitcoin consolidating at 60-70k and ETH & alts pumping is definitely in the cards imo.
Comment:
Current portfolio:
BTC: 41.55%
USD: 25.11%
ETH: 13.09%
SOL: 6.26%
BAND: 4.68%
SRM: 4.45%
LINK: 2.47%
ADA: 2.39%
Bitcoin: 41.55%
Altcoins: 33.34%
Cash: 25.11%
BTC: 41.55%
USD: 25.11%
ETH: 13.09%
SOL: 6.26%
BAND: 4.68%
SRM: 4.45%
LINK: 2.47%
ADA: 2.39%
Bitcoin: 41.55%
Altcoins: 33.34%
Cash: 25.11%
Comment:
Will deploy the remaining cash into alts either during the next dip or when Bitcoin get's acceptance above 61k. I think the risk to reward is currently better in alts than Bitcoin.
Comment:
My invalidation level is 51k.
Comment:
Solana coins that I'm currently considering bidding:
RAY $14.20
COPE $6.75
STEP $6.90
RAY $14.20
COPE $6.75
STEP $6.90