The minor rebound happened, market remained sideways around the daily average and came back down because of an accident (a tesla went off the road)
Let’s broaden the view with a weekly chart.
BTCUSD Weekly Chart – Below Kama Efficiency Ratio
Everything that has been happening since February 2021 which is the the slowdown of the trend on the weekly chart was expected and is the result of a careful observation of the volatility / trend ratio, two elements that characterize the average that I use (Kama)
I expect a further slowdown of the trend until mid-June when Bitcoin will be completely flat, from there on a new trend will emerge on the weekly chart; the future of bitcoin will be decided there should this new incoming trend be positive or negative (i guess positive).
A good idea could be to buy in the next week if bitcoin will test the weekly support zone in the 36,000-42,000 $ price zone, this market is lateral therefore I expect that it will not fall under 36000 dollars.
I think in July, I hypothesize, some liquidity may return to bitcoin from altcoins, also because the bitcoin market share chart (BTC.D on tradingview) has a nice spike in the kama efficiency ratio on the weekly chart (bottom might be near).
If a new trend is expected on the weekly chart for July let’s say, who could fuel this new trend? A return of liquidity from altcoins to bitcoin itself.
As usual if you have any doubts leave a comment, it is well appreciated.