Well from what I wrote in the last post to where we are today…wow right. Bitcoin now at 44k and SHIB making moves and is now at .000025. I don’t think we are there yet. This little rally could simply be a tease. However, watching closely.
For Bitcoin it’s great to see it hit 44k. I’d say 43k was the current level of resistance. And although it has broken through 43k it hasn’t yet consolidated above 43k. For all we know it can come crashing back below 43k. This weekend is one to watch.
If it keeps climbing I’d say the next level of resistance is 48k and 43k becomes the new level of support. That’s my thoughts on that and it’s what I have written down in my chart. 43k to 48k to 53k. If it’s time for the big rally… I’d say between now and May something could happen.
Now let’s take a look at SHIB. SHIB now at .000025 at the time of this writing. If we continue along this path when SHIB hits .000027 then we can see something happen possibly. That’s on BTC if it continues it’s climb and brings the market with it.
But I’m thinking once SHIB breaks through that resistance at .000027 then from there we can see the start of the big rally. Which is going to be a nice climb up like we saw what happened in October 2021 when SHIB reached its all time high of .000008.
Of course I could also see SHIB consolidate at .000025 and BTC consolidate around 44k and we continue this move sideways. It’s only when BTC breaks through 50k and marches towards 53k we better hang on to our hats and ride the rocket.
These are things I’m looking at. There are several other factors that also can influence the market. Amazingly on a side note it’s great to see ETH back up above 3k. This story could completely change when we see ETH back above 3.5K. I guess it’s time we also watch ETH more closely.
We are not quite there yet. In the meantime HODL.
note: Crypto is volatile. Please do your own due diligence on the crypto I talk about here. I am not a financial advisor, I'm simply sharing my thoughts and opinions. Please take ownership of your choices when it comes to crypto. I am not responsible if you get rekt and go broke. That is on you.