Time for a quick market overview...
Do we nuke? Is the bull market over?🤔
Let's see what the charts say...
BITCOIN
📈 $BTC is moving within a bull flag pattern & above its 20-week ema which is bullish.
Supports
- 20ema at 62k
- Flag bottom at 58k [img:8TSM0zhrx]
IMO we could see a bottom form in late Jun/early Jul...
ETHEREUM
🔥 $ETH looks very bullish indeed.
Continues consolidating above its 20ema
Supports
- 20ema at 3260
- Horizontal support at 2850
IMO ETH with its ETF launch upcoming is a no brainer trade for coming months.
OTHER ALTS
📊 TOTAL3 (alt mktcap except BTC & ETH)
Looks decent & is at a key support level of $570B, which could be the bottom.
However it might correct to the next support of $530B before reversing (meaning one last flush for alts is still possible)
To sum up, the bull market has NOT been invalidated 🚀
Short term, we may see more chop or slightly more downside
I think we see a bottom in Jun/Jul & then a push to new highs