Impressive what BTC did!
I'm really impressed! Probably you too.
#BTC☀ made history again pushing to new highs, reaching an all-time high of 90k!
What's Next?
#BTC is currently overbought, as seen in indicators like RSI reached 95.4 on 4h time frame and 93.9 on 1D time frame, signaling the need for a cooling period.
Watch for a potential strong pullback, especially in the futures market.
BTC formed two key channels: the green one (an ascending channel) and the red one (a descending channel), as shown in below screenshot.
I can immagine 2 scenarios.
A. Is that BTC will move like the green arrows 88k - 86k - 89k.
B. BTC will dump like the red arrows 88k - 84k - 82k (see screenshot).
Remember that BTC is currently trading above a bigger green channel (you can read my previous post to understand better).
Given the recent rapid rise, it's likely that BTC will adjust its course back into the green channel. It seems that the scenario B is more realistic.
As written in the previous post, the bigger channel has a more realistic angle of growing, it is be between 75k and 60k.
Negative news could trigger a rapid decline to around 60k, but this won't happen overnight (I hope).
Considerations
Altcoins are currently gaining momentum. If you identify those with strong fundamentals, there's huge potential for good returns, as many are still undervalued compared to their previous highs. I will focus on the top 25 / 30 altcoins range.
Risk Management
Manage your risk to avoid regrets later. The idea that BTC will only go up is not accurate; crypto trading includes natural cycles of ups and downs.
Do your own research—this isn't financial advice.
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