Will Bitcoin rebound in the short term? When will it be time to bottom-fish?
Last night's CPI release came out, and the rebound of $BTC met expectations, but it's only a B-wave rebound on the weekly chart, with the ultimate target being 90,000 to 100,000. The C-wave decline is expected in March and April, with support around 69,000 to 73,000.
This year is a deep bear market; most altcoins will go to zero, and once they fall, they won't recover. However, there are two opportunities:
First: Next June or July, catch the bottom of the C-wave and go long on spot, or wait until the fourth quarter;
Second: Between October and December next year, BTC might drop to a major bottom of 40,000 to 60,000, at which point go all-in on spot.
All of the above are personal opinions and do not constitute any investment advice.
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