$BTC ANALYSIS ๐ธ
After multiple tests, the trendline has become quite weak as can be seen in the trading volumes๐
Now, two cases are possible
Case 1 ๐
The market could see a $5,000-$7,000 upside move driven by positive news....This would trap short sellers ๐ป...As new buyers enter the market, it could then take that liquidity and fall
๐
Case 2 ๐
Alternatively, the market might move down first, creating panic selling and liquidating long positions...Buying could then start from the $94,000-$98,000 zone...If that zone sustains, the market could go to $110,000-$112,000 ๐ However, if it fails to sustain it might test $80,000 or the strongest support zone, which is at $60,000-$65,000
There isn't much hope for an "altseason" because most altcoins are already down 40-50%๐ช
It is possible, however, that a 30-40% rally could occur after some time...For now, significant returns are not expected from BTC
#BTC #fomc
After multiple tests, the trendline has become quite weak as can be seen in the trading volumes๐
Now, two cases are possible
Case 1 ๐
The market could see a $5,000-$7,000 upside move driven by positive news....This would trap short sellers ๐ป...As new buyers enter the market, it could then take that liquidity and fall
๐
Case 2 ๐
Alternatively, the market might move down first, creating panic selling and liquidating long positions...Buying could then start from the $94,000-$98,000 zone...If that zone sustains, the market could go to $110,000-$112,000 ๐ However, if it fails to sustain it might test $80,000 or the strongest support zone, which is at $60,000-$65,000
There isn't much hope for an "altseason" because most altcoins are already down 40-50%๐ช
It is possible, however, that a 30-40% rally could occur after some time...For now, significant returns are not expected from BTC
#BTC #fomc
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BTC
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