๐ก BITCOIN MONTHLY OUTLOOK โ AUGUST KICKED OFF WITH A DUMP!
Wellโฆ that was not the welcome we were hoping for this month! ๐
$BTC took a hit alongside US stocks after Jerome Powell shut down any hopes for rate cuts.
๐ Zooming out to the monthly chart: There's a major support zone down at $102K, and if price dips that low (big IF!), it could be a golden buying opportunity.
But honestly, I'd rather see a shallow correction that holds above $110K โ this would keep altcoins alive and kick off a healthier altseason.
๐ If we dip into the $102Kโ$107K range, sure itโs a buy zone โ but expect heavy pain and brutal sideways action on alts!
Soโฆ whatโs the play?
โ Time for leveraged longs? โ Nope
โ Time to panic and short? โ Also nope
๐ Best move right now?
Sit back. Relax. Watch the chart.
Patience always pays in crypto.
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