BTC Plummets! From 99k to 91k, where do high buyers go?
BTC finally corrected, sliding directly from 99k to 91k, which scared some high buyers significantly. But to be honest, the correction of the big currency is not the most critical; the focus is that the second coin and altcoins actually didn’t fall along with it this time!
In the past, whenever the big currency dropped, they would definitely experience a waterfall decline too. But if you look back to a few days ago, the second coin not only didn’t drop but actually rose, what does this indicate? It shows that the money earned from the big currency has started flowing into the second coin and altcoins, and the season for altcoins may be approaching.
So where will the big currency correct to this time? When the monetary policy minutes came out at three in the morning, the result was hawkish, and the big currency immediately dropped below 91k. Additionally, the U.S. stock market will be closed on Thursday, which may make the flow of money in the market a bit tricky.
Personally, I think the 90k mark should hold firm, and further down, there is a more solid support point at 87.5k. Of course, all of this depends on how the big players operate; the market can change rapidly. But everyone, don’t panic; corrections are just to enable a higher flight next time! The changes in the crypto world happen fast, like flipping a book, we need to keep up with the rhythm and not miss this once-in-four-years opportunity.
Looking at today’s BTC market, from the candlestick chart, the 1-hour line is bouncing up, the 4-hour line seems to have stabilized at the bottom, but the 12-hour line and daily line are dropping. Today's resistance level is at 95,500 USD, and the support level is at 90,000 USD.
Now that BTC has corrected to 92k, the market is fully in a frenzy! In this situation, it is the best time to lay down plans for potential altcoins!
