Bitcoin is continuing to follow a volatile chart pattern and will likely need more time to consolidate. We still project a sizable move occurring into June. As we see this whipsaw take place in the crypto market, sentiment amongst market participants will continue to oscillate between extremes. For example, the Bitcoin Fear and Greed Index shows the sentiment of the market, and we will soon see a reversal from fear to greed coinciding with Bitcoin’s rally.
When viewing the Bitcoin price chart, it becomes apparent that more consolidation is necessary before we see a move higher. As the NASDAQ and SPX recover from their recent decline, price action should begin to move higher. Even though this is a precarious time in global markets with rising interest rates and declining economic output, there will still be an opportunity to profit from our altcoin positions. 
