Opposing forces in today's markets, so could go either way. Positive - Clarity Act movement, ETF inflows, and possible nearing an end to the Iran conflict = Bullish momentum. Looking for close above $77k per my video. Negative - Bearish ERI / TSI on daily chart. Weekly Red 'Sell' block. So we'll have to see who is stronger in the coming days, Bulls or Bears!

I rather thought we would see this rally sell off in the afternoon, and have a 'shooting star' type candle, showing rejection and likely lower momentum, but this does feel strong and seems to be holding $76k as support, so our 'Bear Flag' pattern may be either postponed or invalidated. I was also saying last week that if / when: - The Clarity Act passes (hearing it's close) and - The Iran conflict in the middle east ends... We'll see a big rally... Plus we had Powell announce $40B in stimulus! So things are looking good! I'd like to see how price action is over the weekend and if this level holds...

The VIX Volatility Index is over $30 and looks to be building momentum. I also read that Uganda is ready to join the war if his real continues to be attacked. We are not so slowly moving toward and into World War 3 which concerns me. Markets don't like this level of of uncertainty. There are also unconfirmed rumors that the US is insolvent. At some point all of this could cause a dramatic and sudden and possibly exclusive move in Bitcoin but nobody wants to catch a falling knife. I think having some right now makes sense. Buying more in the 50K range also makes sense but keeping powder dry for the chance we see a sudden dramatic capitulation drop. There is still the possibility of a dirty bomb or nuke detonating at the hands of Iran, which would terrify the world and worldwide markets. So I continue to remain cautious and likely will see further downside into the 50K range for Bitcoin before we see a bottom.

In this quick study I'm showing how in Prior Cycles Bitcoin has seen additional 40 to 50% drops from where we are now. On this 3-day charge and looking at the crossover of the 50. EMA below the 200. EMA in blue, we've seen previously deeper corrections in the 50% range. So while we could see a recovery balance in March, since we've been down 5 months with Red candles in a row. I still think this is ominous and looks poised to drop lower. My other studies show a drop to at least the $50,000 to $52,000 range where we can see buyers lined up there for a strong bounce, or potentially bottom using "buyer" block signals. Read full study here: https://www.tradingview.com/chart/BTCUSD/qtqasZDm-Bitcoin-3-Day-Death-Cross-Signalling-50-Incoming-Drop

This chart shows that Bitcoin is trying to hold the important $62k level. After 5 straight Red (down) months in a row, a relief rally in March is looking more likely. Stay tuned...