#What happened to $BTC last night and today?
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The approved Hong Kong ETF started trading last night and pushed the price up to $64,000.
However, there was much lower volume than expected and it failed to break through the $64,000 resistance and thus fell back to $62,000.
A couple of hours ago, the Hong Kong ETF ended its trading hours, but due to the low volume, people didn't find what they expected and the price is currently around $61,600.
If it can't push itself back above $62,000 during the day, we're likely to see a decline to around $60,000.
I think we'll get a nice reaction at $60,000 because on the daily chart, the lower point of the bollinger band crosses exactly there and there's also an old support there.
With the arrival of May, I said that I was expecting a decline in Q2 and that expectation is still there.
But instead of getting upset about it, you can make good profits by continuously buying and selling. The days will probably be less active as I expect low volume in Q2, but as long as you trade patiently and stick to your strategy, you will make a nice accumulation.
With the arrival of the fall, I continue to expect good activity and a sharp upward movement, especially on $ETH.
I currently have an $ETH long position to take a short profit from today's drop, but I want to close it as soon as possible and open a short position again.
