๐จ Why Bitcoin Could Drop to $59,600: In-Depth Analysis ๐
Yesterday, we sold 80% of our altcoins at $69K and are now waiting for a market correction to re-enter. Here's our strategy and why we anticipate a decline in Bitcoin (#BTC):
Personal Perspective: This post reflects my personal views and portfolio management strategy. Please conduct your own research before making any decisions.
Current Market Pattern: Bitcoin is currently forming a rising wedge pattern, which indicates a potential correction before the next move up towards a new all-time high. Our re-entry targets for BTC are:
- $64,600
- $62,800
- $60,400
Portfolio Strategy:
- Re-enter with 25% in altcoins at $64,600.
- Re-enter with 35% in altcoins at $62,800.
- Re-enter with 20% in altcoins at $60,400.
Reasons for Expected Drop:
- Bearish Chart Pattern: Rising wedge formation.
- Market Reaction: Whales might counteract the bullish sentiment from Trump's recent speech.
- Liquidation Levels: Many liquidations at lower levels could push prices down.
- Onchain Transactions: Indicators suggest whales are preparing to dump.
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