My first love is money💰& second love make money💰. #Crypto analyst - Swing Trader - Long term investor ! iChart, iCreate, iTrade Spot or Future trading.
I expect the bull trend to resume around May or June. Until then, expect sideways movement and short-term bearish pressure. The same bullish jokers of today will become bearish in May or June. Mark my words.
In the recent FOMC meeting, the Fed announced a slowdown of QT and is expected to end it by May 2025.
If this happens, alts will most likely start a rally resulting in altseason.
My next target is 70 to 74k, which is below the golden line. This is the key question for us: will it bounce off this area or break further? If we see a drop to 70 to 74k and get a strong daily close above the golden line, I will take profits from shorts and start setting up magazine entries. If we have a full daily close below this area, I expect a deeper move to the downside. In summary:
• Shorts remain active in the pile area
• Short profit taking target is set at 70 to 74 thousand
• Old orders are located in the 70 to 74 thousand area
• The decision depends on how the price behaves daily or at the end of the week, below or above the golden line.