Daily book

There are two crucial resistance zones for #Bitcoin to monitor.

- $86-88K.
- $93-95K (at the 50-Week MA).

In any first rally of the bull cycle, you'll see resistance around the previous support level and/or the 50-Week MA.

Has been the case in the 2017, 2021, and 2024 cycles.

#Bitcoin can easily consolidate around the resistance for a few weeks to toy around for the altcoins to make their run.

That's the period where you can start recouping losses or compound your profits.

After that, I wouldn't be surprised that we retest lower at $70-75K before we continue to run.

The bear market bottom is in, in my opinion.

The question is: How long does #Bitcoin continue to go up, to give #Altcoins space to continue to run?

Well, as long as the daily 21-MA acts beneath the current price, there's more legroom to go.

I do think that we'll have more upside and that we might be testing the $90K region, and during this stage, altcoins to outperform Bitcoin, selectively.

However, bear in mind that there will always be a correction taking place that could erase all profits.

The markets are beautifully waking up.

Strong #Altcoins breaking out left and right.

During times of regime switches:
- #Nasdaq moves first.
- $BTC follows with 1-3 weeks delay.
- #Altcoins follow with 1-3 weeks delay.

We're in that last part, where we finally start to see a multi-week momentum on altcoins take place.

The markets are still not giving $ETH much value.

It broke down, which is understandable, and it might make a potential scenario that we're going to continue falling until the CLARITY Act is approved.

The start of the War signaled the bottom of #Bitcoin.

Perhaps a similar occurrence happens with $ETH bottoming out on the day that the CLARITY Act gets approved, as there seems to be a 'Sell the rumor, buy the news' type of structure.

Other than that, no reason to be buying $ETH over $BTC for now, until it gets into lower regions.

This is a fascinating chart.

It's the short to long-term realized value ratio on #Bitcoin .

It basically signals bear markets and detect when bottoms are on the horizon.

If you look at the charts, it's providing signals that are similar to the previous bottoming periods in 2022, 2018, 2014.

The levels are hit again, which shows that we're at the end of the bear market, and not at the start.

#Bitcoin is doing just fine, however it needs to hold above $76K to avoid a breakdown of this entire upwards structure.

I do think that it will hold, and that we'll continue to rally, especially given that there's still the 50-Week MA above us.

The first rally out of a bear market lands at that resistance, and it would give some more momentum for #Altcoins .

Yesterday, I mentioned that it wouldn't be a surprise if $BTC consolidates for a second.

This is currently taking place.

Assets trend in waves.

#Bitcoin has seen multiple days of momentum upwards, so it's not strange to expect it to consolidate just now.

As long as the trend remains intact, I think we'll see more upside during coming weeks.

There we go.

$TAO broke through the resistance zone, build up momentum, and continues to grind higher.

It's not the best time, short-term wise, to be looking for a long-trade here, as it has broken north earlier and is closing in on the gap.

On the other hand, it's a perfect example of sentiment vs. opportunity.

The sentiment within $TAO shortly after the event surrounding the subnet has caused damage to the ecosystem, but provide a phenomenal mispriced asset and an opportunity.

This is now closing in, yielding a return of more than 20-25% on people willing to take the risk and bet on it.

I assume it has more room to go to $350 and that's probably were it will stall for a little.

$NEAR R is heating up for more momentum technically.

For the first time in a long time, it's creating higher highs, higher lows on the $BTC pair.

On top of that, the 21-MA is crossed on multiple timeframes indicating that we'll see more strength coming in for the asset.

I do think that it's just getting started and there should be more strength coming in.

Additionally, the $BTC pair has created a rounded bottom, went sideways for a few months to build up stamina and seems primed for new highs.

$NAORIS is gaining momentum as price starts to go up.

They are building a quantum-resistant layer from scratch, which inevitably is required to becoming a solution for the future of on-chain transactions.

Of course, it's not clear whether they'll be a winner, but overall, investing into core players within that vertical makes a lot of sense and that's why it's getting traction.

There we go.

Nasdaq moved first, volatility goes down, so #Bitcoin moves.

#Bitcoin had more than $1 billion in inflows in the first few days of the month.

Now, just days after, #Altcoins are following through.

Even though we've seen a strong correction on $ARB the structure remains intact.

I don't think we'll see a strong bear market move.

As a matter of fact, I do see that we're going to have another strong impulse to the upside.

Multiple days in a row we're seeing strength on #Bitcoin .

So, before everyone gets too excited, it's very healthy to have some consolidative days before we continue the journey higher.

It's clear that there's more ETF demand and that won't stop.

First few weeks of the month = bullish for #Bitcoin and very likely we'll continue to the 50-Week MA around $90K.

A lot of protocols are ready to do a 'mean reversion' trade.

This means that they'll follow $BTC in its footsteps and have a relatively strong run. Stronger than Bitcoin percentage-wise, as the higher Bitcoin goes, the more confidence there is.

One of them is $SUI .

It's building up for a strong breakout after multiple months of accumulation and that could even mean that, in a prolonged period, it can run to $1.75.

#Bitcoin looks ready for more upside.

It broke above $79K.

The trend clearly is upwards (and that means we can have intraday corrections).

The ETF Flows:
- May 1st: $600 million
- May 4th: $500 million

Lots of interest, and the Gold <> #Bitcoin trade is definitely taking place.

I don't think this will stall, with the current construction, soon.

Atleast there's leg room to $86-88K and most likely to $91-93K.

$TAO fights full resistance here.

However, it clearly broke above the structure and remains to be in an uptrend.

The gap towards $350 hasn't been closed yet, so I assume that we'll continue to run to atleast that level.

If that happens, ultimate resilience from the ecosystem and we're likely in for way higher prices.

ETF flows are back in the markets, and the markets are turning upwards for #Bitcoin .

Clearly above $80K since yesterday, and I assume we'll continue to see more strength coming in over the course of the next few weeks as there's a lot of ETF demand happening.

The Gold <> Bitcoin rotation trade in full force.

$ETH doesn't look great vs. Bitcoin, and the prime reason for that is just that timing matters.

If the Nasdaq shoots upwards, people will firstly move towards #Bitcoin as a higher beta play than the Nasdaq.

The time for #Altcoins is therefore selective and will likely be taking place at a later moment in time.

Is that worrysome? No, not at all.

Some altcoins will do well, but they have been performing well prior to the massive crash. They can outperform Bitcoin.

Other than that, wait for Ethereum to start moving upwards to be allocating more assets towards the altcoin markets.

#Bitcoin rejects harshly at the $80K area.

That doesn't mean that we're going to crash. Not at all.

It seems very likely that we'll consolidate a little bit more and continue to grind upwards after that.

The structure on lower timeframes remains intact until price falls beneath $73-75K, which isn't the case.

#Bitcoin looks primed for upwards momentum.

Very keen to see how the markets will react when the US opens, especially given the positive ETF flows of last Friday.

Breakout above $79K opens the opportunities all the way towards $86-88K for coming period.