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Bitcoin and the entire crypto market just got rejected from resistance on the rising wedge. All the gains from the Clarity Act are gone.
$BTC next major support: $78,000.
A break below opens the door to $74,000, then $70,000.
The total altcoin market cap got rejected at resistance too. It's now testing support near $190 BILLION.
The last 2 months in crypto was a dead cat bounce driven by Nasdaq's parabolic move.
It wasn't $BTC strength. It was Nasdaq strength wearing a Bitcoin costume.
The BTC / Nasdaq ratio needs to break above 3.0 for crypto to gain real momentum.
$BTC
#GateSquareMayTradingShare
#CMEToLaunchNasdaqCryptoIndexFutures