The current market trend is showing bullish momentum, indicating an upward trajectory.This bullish sentiment is pushing the BTC towards a critical resistance zone between 59,500 and 61,200. These levels are pivotal for determining the sustainability of the current trend. please DYOR
#BTCâ Bitcoin (BTC) exhibited a robust bullish trend yesterday, surging past $64500. However, today's 2-hour candlesticks have displayed significant red candles, indicating a sharp reversal. BTC has subsequently dropped below $63,000, signaling a bearish shift in market sentiment.
While BTC's downturn may typically exert downward pressure on the broader cryptocurrency market, it's possible that alt coins may decouple and experience relatively lesser losses. Market participants should remain vigilant, as the current scenario presents an intriguing dynamic. We will continue to monitor developments and provide updates as the situation evolves.
Please note that this analysis reflects my individual research and should not be construed as financial advice. The month of August may hold surprises for the cryptocurrency market.
Bitcoin (BTC) has reached a price point of $63700, marking the beginning of a new weekly candle. Initial indications suggest a bullish trend for the week. However, the weekly closing candle appears ominous, hinting at a potential market downturn. This could be the final significant correction of the year for alternative cryptocurrencies like Bake, EOS, ADA, and XRP, which are currently dormant but hold potential for growth. Alternatively, new coins like ARB, JUP, SEI, MANTA, and COMBO may emerge as attractive investment opportunities.My personal investment strategy involves acquiring a specific coin at a price point below $0.056, which has yielded a 22% profit thus far. I anticipate a potential further dip in price, which would present a buying opportunity. #SOFR_Spike #ETH_ETFs_Approval_Predictions #Megadrop #SOFR_Spike #CPI_BTC_Watch $ARB $PDA
Investing in cryptocurrency requires understanding volatility and risk, ensuring security and proper storage, staying informed about evolving regulations, and diversifying your portfolio through thorough research.
Fake pump. Be ATTENTIVE- $BTC please takeprofit at 65k to 66k and short btc at the price range above 66k and stoplose should be 69k and took profit at 57k.
I hope you're well. After a hiatus, I'm sharing my thoughts.
BTC is expected to dip below last week's low before reaching resistance around 57500 or 56000 by the 22nd. Following this, another drop to 52k or 53k is likely.
Based on market analysis and the global economic situation, BTC isn't forecasted to surpass 76k or 80k for the next 5 to 7 months. While this analysis could be incorrect, considering the market landscape and BTC halving, it's probable that BTC will touch bottom and initiate a bull run for altcoins. Even if BTC reaches 90k, altcoins might not follow suit. Therefore, expect a sideways trend for another 3 or 4 months.