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In my last post, I said chart is a trap to limit your thinking and give you a vibe that you are king of risk management. Many people got angry. I know. But my points are correct. You can see the proof today. If you look, you will see many people on square posted, Bitcoin is now testing major support line of 60k, if it goes down it may go down further, if it bounces back it will hit 70k again. So, basically, I’m gonna ask, how your analysis even helping if you cannot predict what will happen? In fact, you should know that during a news event, support and resistance doesn’t necessarily make any difference. Markets get volatile. Talking about long term holders, this has no impact on, literally no impact. Because the pre-halving effects and effect on halving date won’t last long. Now let’s come to their analysis, even the analysis they are showing using chart is completely wrong. How? Because they are saying the major support for Bitcoin is 60k. Which is totally wrong. The major support for Bitcoin was 65k, the ATH in 2021. And the major resistance was 74k which is ATH in 2024. (I always round up the numbers to keep things simple.) As BTC already fallen below 65k, there is no point of saying support is now 60k. Because next major support is 45k which is the ATH of January. So if, Bitcoin was really falling, it should have fallen to 50k or 45k. I would be more than happy if this happens, as I’m gonna bag up some more BTC. Again, during news events no support / resistance actually works! So there is no point of thinking that as BTC is below the support, this means BTC will go down and down. My short answer for all your questions is BTC will be up. Possibly it will hit 88k or even 100k +. Other altcoins will be more bullish than Bitcoin. That’s why I always say if you have less than 5k USD to invest, better not buy BTC and ETH. Go for smaller coins, eventually convert them to BTC.

The market is going down, but I would say this is a good entry time. If you read my old post, you will know why. But let me tell you the reasons for the current dip in the market. I believe very few people would tell you this. The whole world relies on one single currency, which is the USD. Even all countries keep USD as foreign reserves. This gives America ultimate power to control the whole world’s economy. But unlike other countries, America cannot print USD as much as they want. Although printing money benefits America. For example, America bought 1 trillion dollars' worth of gold from other countries. Now, if they start printing money, the value of the USD will reduce. Let’s say a 20% inflation happens, and now America, if they sell the gold, they are making a 20% profit. The issue is, they cannot do this. They cannot print money without any valid reason. They do this when a crisis happens, like War, Pandemic. If there is no significant event, then they keep the inflation around 2-3%. This is one of the major reasons we see a sudden pump in all markets during specific events. Now, you may ask, if people of America know there is 2-3% inflation happening every year, why would they even save their money in flat currency (a.k.a. bank deposit)? That’s why the American government previously announced bonds, where they provided the same amount of interest matching with the regular inflation. All banks mostly kept their money in bonds and provided the Americans with 1.5-2% interest per year. But as America is getting involved in many ways and facing economic crises and there are trillions in national debt, they changed their approach and now started printing money aggressively. People of America, who save their money in banks, aren’t happy about this. So, now America is deciding to increase the Bank interest rate up to 9%. (So, if 10% inflation happens, the person saving money on bank will lose only 1%). Now this will neutralize the inflation effect. That is why after the news, we noticed a big dip in the crypto and commodity markets.

Why do I always say BTC will hit 100k this month while everyone is saying BTC will be bearish? If you read my old posts you know, I, in fact, claimed that BTC will hit 100k by the end of May 2024. But my prediction proved wrong and Bitcoin and Gold market remain below their ATH. In my recent post I already explained, this was due to news event related to US bank interest rates. Anyway, I agree, my prediction was wrong. Because I was wrong. In financial market, you can tell what will happen next by looking at the data. But you cannot tell when that will exactly happen. “When it will happen” depends on various factors. So, we cannot say this will happen within this date. We can say this will happen if this happens and this not happens. So prediction is complicated. But I’m still saying BTC will hit 100k this month. Maybe this may not happen somehow this month, but I can grantee this will happen soon. Now, what is my point of saying BTC will hit 100k while 90% of signal providers are saying BTC will go below 50k? Well, there will be a separate post on this. However, I want to ask you, whom this 90% people belongs to? Then I want to ask you, what big investment’s advisors, crypto experts and venture capitalists are saying? All of them are saying BTC will hit 100k. These are within the 10% who believes BTC will hit 100k. Look, democracy is good within your family, but you can't apply it everywhere. When I say BTC will reach 100k, I'm also holding BTC in my pocket. Ask the guys who tell you BTC will drop below 50k, how much BTC they've ever held in their life? If they are truthful, you may hardly hear 0.5 BTC max.

Urgent Alert 🚨🚨🚨 $BTC 1. Bitcoin (BTC) appears to have concluded its downward trend and is poised for an upturn, potentially reaching around $67,800 soon. It's currently holding strong above key support levels at $67,500 and $67,100, indicating a forthcoming rise. The 4-hour RSI is at 44.26, aiming to surpass 45.13 and eventually breach 50.00. While the 1-day RSI is currently negative, entering the time interval suggests a reversal towards 60.00 in the coming days. 2. Ethereum (ETH) has met anticipated targets, notably around $3,745, rebounding swiftly from that level. With a positive 4-hour RSI at 45.84, it could target the 50.00 area soon. However, its failure to breach the 65.98 area on the 1-week RSI might impede further gains unless it surpasses 70.00. Similar to BTC, ETH's 1-week RSI is bearish, but could see a reversal with time. 3. The USDT domain remains stable but not particularly bullish. There's a possibility of significant decline, especially if it fails to hold above 4.60 and remains below 4.55. Conversely, staying above 4.60 could signal a negative outcome. 4. Overall liquidity remains favorable, with a potential for robust movements ahead. Currently standing at 2.469, staying above the 2.455 mark is viewed positively for liquidity trends. #Megadrop #ETHETFsApproved #btc70k #btc70k

JUST IN: Elon Musk and Donald Trump are discussing crypto policy as Trump highlights #Bitcoin and other digital assets as a way to reach new voters — Bloomberg UPDATE: Elon Musk denies Bloomberg report, stating, "Pretty sure I’ve never discussed crypto with Trump, although I am generally in favor of things that shift power from government to the people, which crypto can do."

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