Key Takeaways
$27k was the bottom, mid-term outlook to $35k is on track for May.
Bitcoin Risk Signal dipped below 25, suggesting long.
Alts wiped out as well, but we expect them to go off once bitcoin settles. It is not clear whether bitcoin climbs first or consolidates at current levels.
Following Risk Signal - as seen below - generates excess returns vs BTC.
It’s hard not to start with bitcoin’s price chart following the aggressive up and down shift. The massive bullish move (+10%) was wiped out late in the UTC evening.
Be that as it may, bitcoin’s structure remains bullish: the bullish crossover between the 8SMA and 16SMA is in play. However, let things settle down first, volatility is up. Short-term support is back at $27.2k.
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