EXPECTED RETRACTION FOLLOWING THE RISE IN THE CRYPTO MARKET! NEW RESISTANCE AND SUPPORT LEVELS HAVE BECOME IMPORTANT‼️
With the FED's interest rate cut, the cryptocurrency market recovered rapidly and the Bitcoin (BTC) price showed an unhindered rise from 59,400 USD to 63,500 USD. With this rise, a "pump" of approximately 4,000 points occurred. However, experts state that a long-term rise at these levels is not possible. While the general trend of the market points to an increase, there is a strong pullback expectation in the short term, especially in hourly charts. Large investors and institutions still maintain their short positions, which indicates a potential bull trap.
It is emphasized that investors should be careful in evening transactions. For BTC, it is recommended to open a short position at 63,300-63,700 levels and set the target at 61,500. For ETH, a short position can be taken at 2,430-2,460 and 2,360 can be targeted. Experts warn that chasing short-term gains at these resistance levels can be risky.
🔥🔥🔥 While a pullback is expected in the crypto market, it is imperative to trade carefully❗️
