Ben Walther(@ben__crypto23)'s insights

Bitcoin — It Is Getting Interesting... I hate to be right,

Ben Walther · 2024-10-10T06:58:16.000Z

Bitcoin — It Is Getting Interesting... I hate to be right, but yesterday's drop was precisely what I expected and mentioned for a few days. Bitcoin broke out of the ascending channel and immediately dropped to ~60k, where it bottomed—for the moment. While volume increased during the drop, it again fell to lower levels at the bottom. Accordingly, I don't think this correction is over! Today, we have the U.S. CPI data announcement that could positively affect the market. On the other hand, signs of an Israeli counterattack on Iran are getting louder. Therefore, nothing has changed: I remain cautious. This correction is not over! $BTC

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Ben Walther

No, but it will certainly create sell pressure and push BTC lower temporarily.

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