Market Update (2024-3-7)
Bitcoin would have a general bias downwards for the next few days as it regains its footing after that trip. This will be the general market situation with some interesting alt coins breaking above the recent peak.
In Bitcoin, most movements are made by retail players with fractions of a Bitcoin.
Expectation is that no major drop would happen but no guarantees as another miner may drop a load of Bitcoin to cash out. However, given the general expectations is that Bitcoin is on an upwards trend, most people would be hodling. Also any substantial sale is likely to be absorbed by the ETFs.
So whatever crypto you are holding, just ride through this cooling down period. Bitcoin is likely try to break out of the 69,000 resistance again in a week or two.
In the Bitcoin chart, the MACD is likely to trend downwards but the price line may not dive down but go horizontal with a slight downwards bias.
[I don't hold Bitcoin but have interests in other cryptos. Would appreciate any gift if you find my postings helpful.]
