Current Position and Indicators:
BTC Price: Recently signaled a buy at the 58k-60k range.
EMA and RSI: The price has fallen below the EMA20, and the RSI indicates a bearish divergence. This implies a lack of momentum and potential for further downside or sideways movement.
Volume and Momentum: Both have not shown growth, indicating a possible lack of bullish strength in the near term.
Support and Resistance Levels:
Immediate Support: Around 65k-66k.
Major Support: If the immediate support is breached, the next level is around 58k-60k.
Trend Expectations:
Short-term: Likely to move sideways before potentially dropping to retest lower support levels.
Medium-term: Focus shifts to evaluating the strength at 58k-60k support, where a failure to hold could result in further declines.
Strategy Recommendations
BTC Strategy:
Monitor Sideways Movement: Expect sideways movement around current levels. Watch for support at 65k-66k and be prepared for a drop to 58k-60k if this level does not hold.
Support Breach: If BTC breaks below 58k, reevaluate the market situation and consider risk management strategies.
Altcoin Strategy:
Shift Focus to Altcoins: If BTC moves sideways as expected, funds may flow into certain altcoins, particularly those in Layer 1 and Layer 2 sectors.
Defi and Trend Opportunities: Keep an eye on Defi, GameFi, AI, and Fan Tokens as potential areas of growth.
Meme Coins: Avoid meme coins in the short term. They have already seen significant gains from February to May and are likely to see further declines. If considering meme coins, the recommended strategy is to hold off until September and target selling around October-November.
Investment Strategy:
Allocate Capital Wisely: Reserve a smaller portion of capital for trend-based trades in altcoins to optimize returns.
Diversify: Spread investments across different sectors to balance risk and potential rewards.
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