💎 BTC worked out my previous scenario from April 22 and reached strong resistance of 72k.
This happened not without the help of various news channels in the form of decisions on the approval of spot ETFs for ETH.
Everyone knew about this event for several months and of course, based on expectations, ETH gave a strong growth of 35%, pulling with it the entire market and, above all, coins in the ETH ecosystem: ARB, OP, STRK, EThFI, ENS and others. There was also a strong inflow of about 200 million into large funds after several weeks of outflows.
Yesterday, the approval decision I expected did not bring any significant growth; moreover, there were large sales and most altcoins maintained a bearish trend, although many found their local bottom on May 1-2 and turned around.
I expect BTC to range between 59k and 68k soon. As they say, “sell in May and leave.” Historically, at the end of May, most major players go on vacation and there is little liquidity in the market.
On May 1, we saw a good correction in the market. But it is quite possible that in June we will see altcoin prices even lower, since BTC.DOM is still in an upward trend.
