The crypto market has been on a roller coaster which most of the people didn't liked, especially the retail investors have been eliminated by the market in last few weeks of time. Alts continue to make lower lows and there was still no dip recorded and we don't know if we have finally seen the bottom already.
The recent money printing news might effect the market in positive manner and we might see a relief rally of 2-3X for alts for upcoming month of April. The bitcoin looks strong enough to make new all time high as well. It has tested and rejected from the crucial support lines which you can see in the screenshot below.
For me the next resistance is sitting at 91955 USD or you can say approximately 92k USD because that has worked as a strong support trendline for bitcoin for more than 3 months of time and that is why I am going to keep my eyes on it .
You can see that support trend line which is now acting as resistance for sure in the screenshot shared below.
Bitcoin is currently trading above 84k USD and will we see another liquidation before the financial year ends I think we might not see it as most of the future positions were liquidated.
Even the one with 3X leverage was not forgiven and that is why I am now bullish about the market for next month. What are your thought? Do you think market will crash further and alts will bleed or we are finally going to witness the relief rally for Alts.
Thank You
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