Bitcoin price was in daily and weekly price correction. It entered monthly price correction in April. Even Bitcoin price touched 57K USD, price correction may not be ended. It will resume until Autumn..
Here you can see monthly chart of Bitcoin and see why I said like this. Here you can see the middle line of Bollinger Bands. It will be great support for Bitcoin price. FED will reduce interest rates in September. This date also match the date of touching Bollinger Bands. We need a few months for price correction!
Even we may get green monthly candle in May, we will see more red candles in this year to reach price target.
Here you can see the indicators of Bitcoin's monthly chart. Fisher Indicator reversed from the top. That is why I wait for price correction on monthly chart. MACD Indicator is trying to reverse from the top. If it reverses, we will enter bearish trend for a year!
I think the middle line of Bollinger Bands will support Bitcoin price as 2020. It will be the proof of price correction and Bitcoin will go up with the support of good news. FED will reduce interest rates and we will see price pump by supporting good news.
I am not bullish on crypto market until August. I am trying to pick up discounted crypto on the market.
We will see..