ETH AND BTC MARKETS ARE PREPARING FOR A RISE🚀
Ethereum (ETH) showed signs of recovery after a long period of stagnation. Long positions opened at 2613 in the morning reached 2665 in the afternoon and gained 52 points. However, this movement is still limited compared to the expected major bull market rally of 40,000. Investors are advised to be patient until market conditions take shape.
Bitcoin (BTC) lost the momentum of long positions with the decline in the morning, but stabilized at 72,000. This indicates that BTC may strengthen in long positions. Bitcoin exhibits a horizontal pattern, which is often seen before a breakout according to historical cycle patterns. Analysts emphasize that the BTC halving expected in mid-2024 could be a catalyst for an upward movement in the market. While short-term resistance remains around 28,000, prices are fluctuating just above the 27,000 level.
In the current market conditions, BTC and ETH investors can focus on short-term long positions and wait for a possible bull market cycle in the coming months.
Buying Strategy
• BTC Buy: 72,000–72,300, Target: 73,300, Stop Loss: 71,500
• ETH Buy: 2620–2640, Target: 2720
- The information contained in this article is never investment advice and is for accurate and up-to-date information purposes. STAY TUNED‼️ Be sure to do your own research❗️
