1- Macro - S&P and the War 2- BTC - Chart and Dominance <- 3- On-chain and ETFs

The war events strongly impacted the crypto market, with an 11% drop. Bitcoin broke the $60,000 barrier in the futures market, retested $67,000, and is now hovering around $63,000 per unit.

Alongside this drop, the search for solid assets took investors, and Bitcoin dominance (BTC.D on tradingview) broke the 50~54% range after 161 days of sideways movement! Touching the resistance at 57%, dominance at 3-year highs implies that we are nearing the maturation of this consolidation, which is already in its seventh week. However, to achieve this, it's necessary to stay above 54.45%. 📉💰

Expectations for Bitcoin

Graphically, Bitcoin is showing signs of further decline, with daily targets at support levels of $60,000, $55,549, and $48,300. The main volume supports are at $52,770 and $46,200. It's important to remember that the trend on the daily chart is weaker than on the weekly and other longer timeframes, which still indicate an upward trend.

In other words, a correction is already underway on the daily and possibly on the weekly chart, with confirmation expected next Sunday at 9 p.m. On the monthly chart, we can only speculate if the closing occurs below $54,000 in May. 📉💹 Show Less