๐ Looking at #BTC 4h as promised ๐
The market is currently experiencing a local decline ๐, and the question arises: what to expect next? ๐ค
In my opinion, a major correction is not expected at the moment ๐ซ. The maximum level Bitcoin might drop to in this situation is the $85,000โ$87,000 range ๐ฒ, which I mentioned earlier. This level is the most suitable zone for opening long positions ๐, both for Bitcoin and other assets ๐.
This range plays a key structural role ๐ for market reaction. Its maintenance is critical ๐ because otherwise, a deeper correction could occur โฌ๏ธ. However, I do not consider this scenario likely at the moment ๐คทโโ๏ธ.
Most likely, Bitcoin will test this level ๐งช, but to do so, it first needs to confidently break the $91,100 mark ๐.
In the long term ๐ฎ, I remain optimistic ๐. I believe that in the near future โณ, we could see Bitcoin prices in the $105,000โ$110,000 range ๐ฅ.
By the way, altcoins are showing resilience ๐ช amid Bitcoin's decline, and there's hope that during the bounce โฌ๏ธ, they will perform even better ๐ฅ.