Bitcoin’s Epic Comeback: Is It Time to Jump on the Crypto Train? 🚀

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So, fear is still lurking around like that one friend who shows up uninvited to every party. 🎉 And let’s be real, it’s not going anywhere until the US tariffs situation gets a makeover and the geopolitical drama calms down. But guess what? Bitcoin has hit that oversold condition, and it might just be gearing up for a comeback tour! 🎤

Market fear remains strong

The market is still playing hard to get. Fear is strutting its stuff in both traditional and crypto markets. The tariff situation with China? It’s like a bad soap opera that just won’t end. Two stubborn presidents are waiting for the other to blink, and spoiler alert: it could take a while. 🥱

10-year yield has to come down

Meanwhile, the Trump administration is juggling around $7 trillion in debt that’s maturing this year. Treasury Secretary Bessent has to work some serious magic to bring that 10-year bond yield down. Good luck getting big-money investors to swap their cash for government bonds instead of equities, gold, or Bitcoin. It’s like trying to convince a cat to take a bath. 🐱🚿

Sure, people might still run to the safety of government bonds during market meltdowns, but the idea of holding onto anything longer than a short-term bond? Yeah, that’s a hard pass. 🙅‍♀️

A monetary reset?

In this delightful chaos, the term “monetary reset” is popping up more than a whack-a-mole at a carnival. Scott Bessent even threw his hat in the ring for Treasury Secretary, probably dreaming of designing a new monetary world order. Talk about ambition! 🎩

So, what’s Bitcoin’s role in this wild ride? That’s a question for Bessent and his global pals to figure out. An asset that can’t be controlled by any government? That’s like trying to herd cats! 🐈 But hey, the US has made some serious strides in recognizing Bitcoin’s power. Who knew? 🤷‍♀️

Why Bitcoin should go up

Let’s put the crystal ball away for a second and focus on whether Bitcoin is worth your time beyond just a few weeks. ⏳

Sure, there’s a chance Bitcoin could dip back to $69,000 if the stock market throws a tantrum, but that support level is like a sturdy friend who won’t let you fall. Yes, it could go into a bear market, but let’s not get ahead of ourselves. 🐻

Why? Because Bitcoin is the hardest form of money. It’s like the bouncer of the currency club—no one can just waltz in and print more than the original 21 million supply. 💪

Meanwhile, governments are gearing up to print more fiat currency than a kid at a candy store. Why would anyone sell off Bitcoin when the alternatives are so… well, inferior? Especially with fiat currencies debasing faster than my New Year’s resolutions! 🎈

$BTC consolidates above breakout

In the short term, Bitcoin is starting to consolidate above that descending trendline. It made a double bottom at $74,500, and the bulls are eyeing a trend break. If it can break above $88,630, the next big hurdles are at $91,000 and then $95,000. 🏆

Mini disbelief phase playing out

After a nearly 3-month correction since the all-time high of $109,000, it’s understandable that traders are feeling a bit skeptical. A mini disbelief phase might be in play, but once Bitcoin crosses that $88,000 mark—and for many, the magical $100,000—watch out! They’ll be jumping back on the train faster than you can say “FOMO.” 🚂💨

That little candle above the descending trendline might look like a wallflower at a dance, but with the RSI indicator breaking through and the Stochastic RSI indicators gearing up for a cross, things could get spicy real quick! 🌶️

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2025-04-15 13:03