"Not sure"
3 min read

"Not sure"

Cryptic ball: follow the Musk.

The original cryptoasset hasn't stopped falling since yesterday's daily close, having almost fully retraced the small bounce it was experiencing. Is bitcoin poised to test $36k or is the pain over? Let's see what Easter can bring us.

  • Bulls need $39k to hold. If bears win and $39k falls over the weekend, $33k to $36k is a key consolidation area in which we could be stuck in for a long time before the next big move. And that wouldn't be that bad!
  • However, I'm feeling a little bullish today, even if I can't explain why. If I'm wrong, it's just a 2% stop loss that gets triggered. If I'm right, the next bounce will take us at least above $43k so the upside is very interesting.
  • Moreover, as Easter approaches, the stock market will be forgotten - so I'm not expecting much volatility over the weekend. As always, I'll be careful - especially if $39k breaks. But now I think bears will give us a break.

Let's also keep an eye on updates from Ethereum's merge. It seems the previously estimated launch in June is no longer on the table, "but likely a few months after". Such a delay would mean that the peak of summer will be quite bearish.

Chart art: follow the miners.

As long as hashrate is in an uptrend we can assume the market is healthy.

Three things: follow what's lindy.

Tweet tip: follow the sailors.

Just don't sayl away.

Meme moment: follow the hackers.


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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of the guidance in the report will lead to any particular outcome or result.