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Bitcoin - Where is the next support? Short!
@Shyon：
Bitcoin plummeted! Bitcoin 4h chart As we can see, Bitcoin unables to hold the support at 59000 and the price collapsed today. What a start for the first trading day of May. It seems that everyone is going to have a hard time this May. Sell in May and go away is proven again? Currently, it feels like the market is not optimistic about the outcome of tonight's Federal Reserve interest rate meeting. Maybe the chairman will say there is a possibility of further interest rate hikes, which will be very unfavourable to the market and US indexes $Nasdaq100 Bull 3X ETF(TQQQ)$ $SPDR S&P 500 ETF Trust(SPY)$ $DJIA(.DJI)$ . In addition to cryptocurrencies, U.S. stocks and U.S. bonds are not optimistic. Since Bitcoin rises from 25,000 USD, it is the first time it falls below its weekly support. This is a very bearish sign and it is very likely that for the next two months Bitcoin will undergo significant correction and consolidation. Personally, I think it is even possible that Bitcoin will pullback until 42,000 USD. At this moment, we haven't see any signs of rebound, so don't long it at this moment...It is always the right way to go with the market trend. For such, I am bearish for crypto related counters like $Coinbase Global, Inc.(COIN)$ $iShares Bitcoin Trust(IBIT)$ . Bitcoin seems to suffer after halving Bitcoin gg? Have you invested in crypto? How you adjust or treat your position now? Do you think the pullback is temporary or will last long? Come and join the discussion ya @TigerStars @CaptainTiger @TigerGPT @Tiger_comments @MillionaireTiger @TigerSG @Daily_Discussion
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