$BTC : 69,900$ BTC has completed the up move towards 70K -71K level according to previous analysis, from now on market shall be observed carefully, BTC might wanna visit lower levels such as 62K and lower in order to complete the corrective move following that rising wedge pattern, The first signal for such a dump is crossing below the trendline indicated with arrow!
also, we should also keep in mind that predicting corrective moves is really difficult and the final result might be different!
for now we must observe price reaction to 70K - 72K level
#MARKETUPDATE VIP (our trades have gained higher profits as mentioned earlier today)
🪙#BITCOIN : It is the 9th daily candle, and BTC is still above the $50.7k support level. With both the resistance ($52.4k) and support ($50.7k) continuing to squeeze the price, a skeptical scenario is unfolding in the market. In this kind of situation, it is always better to consider both scenarios side-by-side and be prepared.
Conditions: With BTC in its parabolic phase, it is likely to see another leg up toward the $60k range, but only if we see a daily close above the $52.4k resistance. On the other hand, BTC is at the peak of its resistance, and if it fails to hold the $50.7k support in the daily timeframe, then we can expect a correction.#Write2Earn
While Bitcoin has slowed down, Ethereum has reached a 2-year high at $3,033 📈
Over the past week, ETH has been able to outpace BTC in terms of growth rates — an increase of 10% versus 3.5% 📊
Coinbase Senior manager Yuga Kohler noted that the "Ethereum bull market" has arrived.
According to the observations of an economist and trader under the nickname Mikybull Crypto, March has always been an optimistic month for Ethereum. He also predicted a "huge altseason cycle."
QCP Capital analysts expect ETH to dominate as market participants await approval of the U.S. spot ETH ETF 👾#Write2Earn
So there isn't still significant effect regarding the latest FOMC minutes in the market as well.
Price of the BTC is still in this range between the area of $50.6k - $52.5k region which has been establishing since February 14th.
As of now, I'm still sticking on my bias with the possible higher high push in the market as current drop is only acting as the short term corrective movement which is pretty normal.
As long as the structure of the market is still holding well, the upside bias remains valid.
For addition, it looks like today's drop will only become the liquidity grab before it continues its upside movement and break out recent resistance at $52.5k because there is also a hidden bullish divergence on RSI which is showing us that majority of people are now taking profit.
I'll be very interested if the price reach the area of $48.3k again as this area is major support zone for BTC so that I can fill my bag with discount price.
if you ask me, current price level for BTC is very cheap #Write2Earn
🚨🚨🚨 #FED MINUTES Update : Most officials noted risks of cutting too quickly.
Fed minutes signal no rush to cut interest rates despite inflation easing. Officials are optimistic but cautious, wanting more evidence of sustained inflation decline before changing policy. #Write2Earn
Market Analysis February 19, 2024 ➖➖➖➖➖ ⚪️TECHNICAL (1W) The recent bullish weekly candle close for Bitcoin (BTC) indeed suggests a strengthening trend in the market, potentially indicating a forthcoming bullish rally. Historically, such candlestick patterns often signal continued upward momentum, attracting investors' attention and fueling optimism within the cryptocurrency community.
⚪️WRAP-UP (VIP) During bullish phases in the market, investors often seek higher returns by diversifying their portfolios into altcoins, which may have the potential for greater short-term gains compared to Bitcoin. #Write2Earn $BTC DAILY RANGE: 📈Upper Limit: 52500 📉Lower Limit: 51900 (+-13% based on moving average volatility open/endpoints)