I originally posted this to d.buzz but the pictures wouldn't load, so here's a long form chart explanation with a little humor at the end.
We need a bounce here. If we don't bounce, the $76K range looks like our next stop. If we're unable to recover around the $76K range, we fall into heavy bearish territory. Soooooo long to any hopes of alt season.
The good news, everything is oversold... Hopefully the bulls step in and buy the dip.
If not, I fear alts will be decimated. We didn't get much of an alt season, and I'm really starting to wonder if we will. It's starting to look like I loaded my bags at the top. Between current events cooling the market each time it starts to rally, and looking at the correlation between Bitcoin rallies and alt season. This is not looking good. If you're a shitcoin trader, it's time to put on your shitting pants. If BTC goes into a serious bear market, it's not looking good for alts at all!
Disclaimer: Not financial advice. Please seek a duly licensed financial advisor for financial advice, not some faceless jackass on the internet who calls himself The Dood. That should go without saying, but here we are.
