Disclaimer: yes past performance has no impact on future pricing.
But here’s the facts: -March has always been a historically bad month for bitcoin. This is likely due to retail traders having to pay taxes. -April has been a historically strong month for bitcoin. (Post paying taxes) -There has been a clear trend that the market is pinning based on these expirations of option contracts then exploding post expiration. (Ie look back at January and February, like clockwork). -Back in the 2017 bull run we saw 18 pull backs of ~10 % or more that averaged 16 days. We are currently only on day 13 of pull back from the ATH and have only had 6 such pull backs on this run so far. -If you look at glass nodes latest exchange data the amount of bitcoin being pulled off exchanges continues at record rates, you’d likely think this would be the case if institutions and whales were expecting a bear market, in fact you’d see the opposite. -Finally the money printer continues to go brr, the macro outlook for inflation looks more and more likely to be occurring at significant rates due to the perfect storm of money printing, supply chain shortages, post COVID outbreak of spending.
Not financial advice. But I think ~53k is going to look like a damn bargain in 3 weeks.