📢🗣️EXCITING UPDATE 🗞️
Market Alert 📈
Big news incoming! China has officially approved BTC and ETF ETF, marking a significant development in the crypto landscape. Here's the latest:
⚡BTC: After a notable close below the 2021 ATH and above 65k, the sentiment has turned bearish in the higher timeframes and neutral in the lower timeframes. Key levels to watch include 65825 as major support, while resistance levels stand at 67863 and 70544. A close above 70544 could shift the stance from neutral to bullish. Conversely, a drop below 65.5k could lead to a substantial 7.5k point BTC dump to 58.5k.
⚡Altindex: The index found support at the previously mentioned low of 580B and has since embarked on a rally. Resistance remains in the 683-696B range.
⚡BTC.d: In a downtrend, which is beneficial for altcoins, with 47.5% acting as crucial support.
⚡Usdt.d: Currently at a support level of 4.6%, with 4.36% as the next level to watch if support is breached.
Fundamentally: The approval of the Chinese ETF is injecting optimism into Asian markets, but attention is also on today's retail sales data and Powell's speech tomorrow. The post-war scenario adds further complexity, with the reaction of the US market being pivotal. Additionally, multiple Fed speakers are scheduled to address this week.
Summary: We're currently maintaining a neutral stance, with altcoins showing bullish signs in the lower timeframes. Prioritizing risk management is essential during these times of uncertainty. Stay tuned for further updates!
🗣️📢Follow us for the latest market news and insights! 🤳
