Alts Pump reason ‼️ | RayHan bros on Binance Square

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Alts Pump reason ‼️

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Market Update - Looking at the daily chart, we can see that Bitcoin is starting to stall around the $63k area. Whilst the chances of a big move in either direction are less on a weekend, we need to keep in mind this potential Lower High being created. In the coming days $BTC needs to move to $65k - $65.6k to continue the momentum or we can see $60k again on the confirmation of a Lower High.

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Market Update - As mentioned yesterday, once the Bitcoin supply zone at $62k was flipped we were likely to see $64k. This is exactly what happened and $64k is the current resistance. BTC does still look strong and it seems most likely we see a push towards the next daily supply zone at $65k - $65.6k. Any move down on BTC today and we would be looking for that old $62k zone to hold first. Good news for altcoins overnight- $BTC dominance has dropped and many alts are outperforming for the first time in a while. Let's see what we get today.

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Market Update - $BTC is still looking good after yesterday's 50bps rate reduction. A strong breakout above $60.5k (Prev Week High) and now BTC is looking for acceptance above $62k. So far $60.5k has not been retested after the 4 hour breakout so keep an eye on this level. The current level of $62k sits in a supply zone, but if this is flipped we are looking at $64k next and then up towards $65.6k (Previous Month High.) $BTC

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GM Bulls! $BTC at 62K 🥳 Pointed out yesterday, there was a ton of short liq here before the FOMC. They are now gone! 😅👌 Give this a like if you are a bull and not side lined! 📈🚀 $BTC

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50 bps Fed Rate Cut Triggers Bitcoin Surge: BTC Pumps to $62,000 in Bullish Move.

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