$BTC Analysis 10/10/2024

#BTC , not good, we had a horrible close yesterday and clearly a stranger day than that is very difficult since we had several bad events, and to make matters worse we still had a crazy narrative that the American Government would sell more than $4 Billion in #BTC .

The positive price reaction today was just a bearish retest and obviously everyone already knew that and did not get excited at any time.

There are no BUYERS and with that, it is easy for the BEARS to push the prices down,

Unfortunately we are at $60K and we are about to break that price and go to $57K. Either the BULLS react here, or we will AGAIN work within this green area on the chart and look for $57,200 for some support, which is bad for the BULLS since it will put us back at the bottom of this SIDEWALKING CHANNEL that we have been in for over 8 months.

There is not much for the BULLS to do here, except defend $57K and try to maintain some of the recent rise. Any reaction here does not mean much, if we do not work above $60K during the late afternoon, then the BEARS will continue to take us down.

The daily close today looks like it will be bad for #bitcoin , so I am TAKING THE MOMENT to BUY some smaller #altcoins , which are in great spots on the chart.

I know and understand that we wouldn't like to see the price below $60K, but let's focus on what matters, the dominance of #BTC is falling and the ALTS are holding up well. So, let's take advantage of this to buy altcoins that have a good chart.

* If you have any questions, don't hesitate, go to my INSTA (it's in the fixed image of my profile here), call me and ask your questions.