Dear community, hope all is well!
After a bad first part of the week, Bitcoin has seemingly found its footing. In the short-term, I wouldn’t be surprised if we retest 70k. However, a lot of alts are looking extremely bearish and the stock market is dumping hard. Remains to be seen how much strength BTC possesses to carry on.
Alts dumped hard over the last few weeks, some even giving away all their gains of the last 5 months. With alts being extremely oversold, the risk is currently to the upside. However, trade with tight stop losses and targets that are not too far away. Market is currently not sure where to go and there’s a serious risk of the top being in for the next few months.
The halving has just happened. Personally, I think this will be a sell-the-news event for a few weeks/months. I expect BTC to reach 100k by the end of the year. If we get a bearish summer, that would be the perfect time to load in on your favorite alts for a discount!
