April Fools crash Or Fools crash?

Bitcoin fell more than six thousand dollars in the past 72 hours. Throwing the entire crypto market in the pit with it. Altcoins are all down between 5%. and 15%. This Crash comes after 2 months of a straight upward move initiated by the approval of the BTC ETFs back in January.

Why?

The simplest and most anticipated answer is the correct one. Weeks of low momentum and over-leveraged long positions. I have been warning of the possibility of an imminent crash at least 10 days before it happens since I noticed a weakening of the upward momentum we had in the past couple of months. Furthermore, the fact that we didn't have a major correction in the past months means a lot of people had long positions at comfortable entries and probably most of them didn't take any profits. This Is a perfect scenario for a dump because all who want to buy already bought, chronic shorts were thrown out of the picture during the price discovery period and people having paid Funding fees for months now realized that soon their positions will be underwater.

People thinking that the April Fool USDT Fud was the reason are the real fools.

When it should be over?

Obviously we can't predict the future but we can build scenarios and for me i only see two options. We either pump hard from here having bottomed around $64500 flushing most of the paper hands and over leveraged traders or we go straight to the $52000 area. Another possibilty, I have seen a lot of people talking about is the bottom being at $58000 or $61000 and this would make a perfect double bottom on the daily chart but the problem with their theory is that there is artificially no support on those levels and it is too obvious of a move. If market makers really wants to push prices down specially for the expected halving dip, $52000 seems like the best bet. $58000 might be the right answer but i am sticking to my two scenarios.

"When a trade seems too easy you are about to get rekt"(~Buddha probably)

Is it a good time to buy?

Probably yes, we got a lot of good entries on many altcoins and even Bitcoin. Starting to enter the markets now might be a good idea with a tight stop loss just below the current lows and you should be in a good position to take Advantage of any agressive move upward. And even better if Bitcoin keep moving sideways we might witness a small but mighty ALT season.

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