BTC is going to drop significantly to a new low
But it won't be a smooth ride
A few days ago, I predicted that BTC would reach around 86000, and this morning it hit 86100, which is no different from what I said. So 86000 is the recent high point and it won't go up any further. The next question is how it will drop.
BTC will oscillate between 84000 and 86000 for a while because the main force needs to slowly offload in this range. Once they have offloaded enough, there will be a waterfall drop, so it won't just drop all at once. It is likely to linger at the upper level for 2-3 days before coming down, so everyone should not be anxious. A significant drop is inevitable. Why will it definitely drop significantly?
First, every drop is accompanied by an increase in volume, indicating that the main force is offloading at the high point of 86000, and the price isn't dropping simply because the inventory hasn't been fully offloaded.
Second, the Federal Reserve's favorable interest rate cuts will definitely drive the market up. If it doesn't drop now, after the Federal Reserve announces the interest rate cuts, there will be no chance to drop again. This means this is the last significant drop before the market rises. This drop will definitely be more thorough and will have sharp spikes, so be careful with long positions during this drop.
Finally, altcoins are about to have a major market movement, but there will be a significant drop before that happens, so everyone should be mentally prepared. This is the best time to short, not to buy at the bottom.
But it won't be a smooth ride
A few days ago, I predicted that BTC would reach around 86000, and this morning it hit 86100, which is no different from what I said. So 86000 is the recent high point and it won't go up any further. The next question is how it will drop.
BTC will oscillate between 84000 and 86000 for a while because the main force needs to slowly offload in this range. Once they have offloaded enough, there will be a waterfall drop, so it won't just drop all at once. It is likely to linger at the upper level for 2-3 days before coming down, so everyone should not be anxious. A significant drop is inevitable. Why will it definitely drop significantly?
First, every drop is accompanied by an increase in volume, indicating that the main force is offloading at the high point of 86000, and the price isn't dropping simply because the inventory hasn't been fully offloaded.
Second, the Federal Reserve's favorable interest rate cuts will definitely drive the market up. If it doesn't drop now, after the Federal Reserve announces the interest rate cuts, there will be no chance to drop again. This means this is the last significant drop before the market rises. This drop will definitely be more thorough and will have sharp spikes, so be careful with long positions during this drop.
Finally, altcoins are about to have a major market movement, but there will be a significant drop before that happens, so everyone should be mentally prepared. This is the best time to short, not to buy at the bottom.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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