Bitcoin 1hr Since ATH, we have been working out way down in this falling wedge. Looks to be moving out of it this morning but Im not expecting this to explode back to all time highs immediately. Funding rates are STILL high. I think it is very possible that bitcoin crabs sideways for the next week. I'm not trying to predict here, but what we are waiting on is people need to lose faith in bitcoin about to run, THATS when it will happen. So Im looking for a crab walk, people begin to doubt the bullish momentum, longs get closed, then we are off to the races.
In the event of crab walking, we need to look at our macro target. All we want from some crabbing is a Bitcoin Monthly candle to be the highest close in history.
If there is a crab walk from bitcoin, alts could have a good week. Not guaranteed at all, have to keep an eye on the TOTAL charts, BTC.D, ALTPERP, DEFIPERP, and NFT dominance. I posted a DEFI chart (last week I think?). I definitely see defi running hard at some point. So if alts start to move well I will likely focus on some defi moves, in addition to some other trades I normally run.
Friendly reminder, any dips are for buying right now
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