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.

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...

We've just issued a 'Sell Alert' in my M3 Trader and Private Client Signal groups. As expected, Bitcoin pushed down to the $75k area previously, and now is breaking down below the 'Sell Block' in Ren here. One of our indicators 'shows' where the concentration of sell orders are. These have been very accurate in showing where will pricess will revers, go up, or continue lower. Fear and Greed is still below 10. With continued war fears, economic fears, and other uncertainties we could see more downside into the $50k - $55k range before a bounce. Feels like a Bear Market is here!