Bitcoin: Currently targeting the $96,700 level, which represents a key support zone on the network and aligns with the average purchase price of short-term investors. This level is considered a potential rebound point in the event of a mild price correction.
Fear & Greed Index:
The index remains in the neutral zone and has not yet reached a state of extreme optimism, indicating that the market has not entered the typical emotional buying phase seen during peak rallies. Based on this, a renewed upward move from the $96,700 support is anticipated.
Altcoins and Ethereum:
Altcoins, including Ethereum, are likely to be negatively impacted by any correction in Bitcoin due to the rising Bitcoin Dominance Index, which typically draws liquidity away from other digital assets in the short term.
Conclusion:
If liquidity is available, it is advisable to wait and observe market movements, with the possibility of entering new positions after the anticipated correction completes.
Written by abramchart
