💥💥💥 #bitcoin☀️ And Solana Brace For Quiet Q3: What #Cryptotraders Should Know
Cryptocurrency Market Analysis
- Crypto analyst Ansem recently discussed Bitcoin ($BTC ) and Solana ($SOL ), highlighting their current stability and potential future movements.
Market Outlook
- Ansem suggests Bitcoin and Solana may not see significant bullish movements until late in the third or fourth quarter. Both #Cryptocurrencies have held above March lows, indicating a consolidation phase, though other assets like Avalanche (AVAX) show signs of potential downtrends.
Technical Insights
- Bitcoin and Solana are maintaining stability above key support levels, but there's a risk of aligning with broader market downturns.
Scenarios
1. Outliers Status: BTC may consolidate between $58,000-$60,000, and SOL between $110-$120, assuming stabilization after sideways movement.
2. Market Downturn: Without outlier status, BTC could drop to $48,000-$52,000 and SOL to $85-$100, following broader market trends.
3. Market Peak: Ansem dismisses a market peak, expecting prolonged sideways movement and development in crypto applications.
Performance
- Bitcoin trades at $65,525, Solana at $135.81. Weekly trends show BTC down 6.4%, SOL down 14.3%, despite minor daily declines.
Altseason Potential
- Analyst Moustache anticipates an Altseason, advising strategic accumulation of quality #Altcoins👀🚀 amid positive signals for Bitcoin.
Conclusion
Ansem's analysis offers insights into crypto markets, highlighting consolidation phases and potential shifts for Bitcoin, Solana, and the broader market.
Source - newsbtc.com
