Correction may not be over yet

28. Apr. 2021

A broader correction is still in play in Bitcoin. 40k area can be triggered soon (magic number, demand area), perfect for long term entry. Technically the long structure and trendline were violated and the course is moving in a descending channel. 200 EMA should be tested sooner than later, before the next huge leg up. Looking at the stock market indices as well, the floor can be slippery from now for at least for a few days/weeks, which could strengten the flow of an all asset's sell off. I am bullish on cryptos, but the correction may be not over yet.