ARE WE Bullish? 🤔

Here's the market update:

- In the short term, the market looks bullish, but in the long term, it's still bearish.

- Recent economic news from the US, like nonfarm payrolls and unemployment rates, were worse than expected, causing the recent move.

Regarding Bitcoin:

- Bitcoin saw a significant bullish breakout above $61,000, a crucial level.

- Open interest spiked up, similar to previous bullish momentum periods.

- I'm cautiously bullish on Bitcoin but want to see a strong reaction above the 200 EMA and 0.236 Fibonacci level.

- If Bitcoin breaks above $62,200, we could see sustained bullish momentum.

Altcoins:

- The best time to trade altcoins is when Bitcoin dominance falls.

- Meme coins, like BONK and FLOKI , are performing well, so I've bought into them.

- Other interesting altcoins include Wormhole, ORDI , DOGE with MEME and PEPE .

Strategy:

- Wait for Bitcoin dominance to fall.

- Look for strong altcoins to invest in.

- Meme coins often perform well when Bitcoin dominance falls and Bitcoin is relatively strong.

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$BTC $BONK #altcoins #buythedip #BTC #Marketupdates #Trading $ORDI