Previously, we successfully shorted Bitcoin from 55,700 to the mid 47000s, but now, BTC has shown enough to warrant a cautious long.
1. The 270-Day regression channel has created two tops and three bottoms (17 December, 27 Jan, 25 April), and a pattern of such duration and strength must not be taken lightly.
2. CMF was showing significant bullish divergence near the end of the downturn, and now, it's actually higher than it was near all time highs despite just one day of buying. This suggests buyers are stepping into the market and buying the dip.
3. Leading alts have rebounded strongly - particularly Ethereum, Solana, and BNB.
4. Trying to buy half now and get another fill at 52500.
1. The 270-Day regression channel has created two tops and three bottoms (17 December, 27 Jan, 25 April), and a pattern of such duration and strength must not be taken lightly.
2. CMF was showing significant bullish divergence near the end of the downturn, and now, it's actually higher than it was near all time highs despite just one day of buying. This suggests buyers are stepping into the market and buying the dip.
3. Leading alts have rebounded strongly - particularly Ethereum, Solana, and BNB.
4. Trying to buy half now and get another fill at 52500.
Trade closed manually:
