Bitcoin / TetherUSUpdated 02.05.2021
The drop to 47k really cleaned the market. Derivatives have been reset and still look relatively healthy. We are above the key resistance of 55k and 20 & 50 MA's, and though the funding has turned positive once again, it's not back at extreme levels.
On-chain data still looking bullish, strong spot bids and exchange outflows.
Seems like we will see continuation.
On-chain data still looking bullish, strong spot bids and exchange outflows.
Seems like we will see continuation.
Note
Ethereum looks even stronger than Bitcoin, and I have built a decent ETH position in the last 3 weeks. I believe the July EIP-1559 will be the driving bullish narrative and things could get crazy in May & June. Bitcoin consolidating at 60-70k and ETH & alts pumping is definitely in the cards imo.Note
Current portfolio: BTC: 41.55%
USD: 25.11%
ETH: 13.09%
SOL: 6.26%
BAND: 4.68%
SRM: 4.45%
LINK: 2.47%
ADA: 2.39%
Bitcoin: 41.55%
Altcoins: 33.34%
Cash: 25.11%
Note
Will deploy the remaining cash into alts either during the next dip or when Bitcoin get's acceptance above 61k. I think the risk to reward is currently better in alts than Bitcoin.Note
My invalidation level is 51k.Note
Solana coins that I'm currently considering bidding:RAY $14.20
COPE $6.75
STEP $6.90
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.