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MihaiDaniel
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Altcoins go bearish mode very quickly, after a masive pump for
bitcoin
a small correction is expected, also a short squeeze can follow fast
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In the next period we have two existential issues to watch, dominant bitcoin and altcoin season index, if dominant bitcoin goes down and altcoin index goes up the result makes many people happy Bon appetit at ☕️ boost at 🍀
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As long as bitcoin stay 92.000$ we are safe , right now bitcoin has a big fight on 1 hour time frame with 200 moving average, if we get a strong rejection here we will go back to visit lower values. The Best Buy zone is the support area 91.000$ to 92.000$ if it gets there again
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"Germans are good at many things: engineering, beer, punctuality. But with Bitcoin… they have more to learn. 🇩🇪 In the summer of 2024, the German government sold 50,000 BTC, seized from cases like Movie2K, at an average price of just $57,600 per Bitcoin. Total earnings: $2.88 billion. Today, those BTC are worth $4.63 billion. Difference lost? $1.75 billion. If they had kept the Bitcoin, they had more valuable reserves than the bullion. But hey, who has time to "hoddle" when you want to liquidate everything? 🤷♂️"
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Bitcoin is still in correction, on the hourly chart it has a descending channel, if it does not close above $93,700 in the next hours it may fit a new step down towards $89,000. Bullish scenario is to break 94,000 and gain the $95,700 area, where we find out if we start the climb towards $100,000 or push back towards $92,000
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The 4-hour chart for bitcoin will be very important in the next 2 days, 100 MA (moving average - the value of 100 candles per 4h) can become support, it is at $90,737 the area it can reach soon, it can also reach a little lower , there we find out if we have a light fix or the first more serious fix!
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