Btc Update , What about altSeason😃
Market Analysis 💻
Bitcoin has risen and is currently trading in the range of $51,300 to $52,600. There continues to be a daily influx of capital into Bitcoin ETFs, totaling half a billion dollars each day, naturally preventing the price from experiencing a deep correction, which many are already anticipating. Especially eagerly awaiting it are the locked-up bears, preferring to short within a wide range and accustomed to "sitting out" deep losses 😉
On the upside, there are three strong zones where we may see seller reaction and at least a hint of a correction: the $53-54k range, $56.5-57.5k, and the final one, where the last uncovered daily imbalance lies at $61-63k.
Entering a long position on Bitcoin from current levels would be foolish, and shorting it is currently risky. It's better to focus on altcoins at the moment.
Bitcoin dominance is currently preventing altcoins from effectively rising, but I am confident that a real altseason is coming soon.
It is unlikely that we'll break the all-time high on BTC without a somewhat coherent correction. It's advisable to be prepared for the possibility of a significant drop at any moment.
At the moment, upward targets still exist, but the main question is whether there will be a coherent correction before the upward move or if we will continue to trade sideways at this level and then embark on another local upswing.
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