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Altcoin Market Cap has been successfully retesting old resistance as new support for two weeks in a row now #BTC #AltcoinAction

Altcoin Market Cap has been successfully retesting old resistance as new support for two weeks in a row now

#BTC

#AltcoinAction

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WHY BITCOIN IS DUMPING?   1) High CPI Data   The US CPI data came in higher than expected.    The expectation was 3.4%, but the data came in at 3.5%.   A higher than expected CPI means the FED can continue its hawkish stance.   2) Rate Cuts Postponed    The market was expecting a rate cut in June, but after today's CPI data, the probability of it happening has gone down.   Now, the FED swaps is pricing in 50BPS rate cuts rather than 75BPS, and that too will happen after June.   These are the major reasons behind BTC's recent dump.   If you liked my analysis, hit like and repost it. #bitcoinhalving
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#BITCOIN    MONTHLY CHART Since 2017, Bitcoin has consistently followed an upward parallel channel, respecting key upper and lower levels over a three-year cycle. Key Points: ✅Breaking above the middle line of the channel typically drives the price towards the upper channel. ✅Historically, breaking the Middle Range (shown by broken lines) in previous cycles led to a surge of up to 225% towards the upper channel. ✅Currently, the middle range has been breached and the price closed above it, suggesting a strong potential for continued upward movement. ✅If historical patterns repeat, Bitcoin could potentially reach $200,000 #BTc
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#BTC    Bitcoin has confirmed a breakout from its Weekly Range Now the final resistance is $71300, the highs from 2 weeks ago (blue) If $BTC isn't able to break $71300 then there could be another bout of consolidation between $69000 & $71300 (black-blue) #Crypto #Bitcoin
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#BTC    There are only two bargain-buying opportunities left for Bitcoin before price takes-out into Price Discovery There's the Pre-Halving Retrace (dark blue circle) And then there's the Re-Accumulation phase (red) Bitcoin has already experienced a Pre-Halving Retrace of -18% So actually there's only one bargain-buying opportunity left and that's dollar-cost-averaging within the Re-Accumulation Phase (red) $BTC #Crypto #Bitcoin
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🚨 BREAKING 🚨 $284 BILLION CHINA SOUTHERN FUND HAS REPORTEDLY APPLIED TO LAUNCH SPOT BITCOIN ETF VIA HONG KONG. GIGA BULLISH 🔥
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