✈️ $BTC short term is moving sideways in the range of $111k - $122k
This is part of the explanation for why many altcoins have been soaring in the past week as DOM continues to decline, allowing capital to flow down to lower altcoins.
What we all hope for is that BTC continues to move sideways like this and doesn't drop too deep; predictions suggest it will continue until September, with hopes that in September the FED will cut interest rates to make the market greener.
✅ 2 scenarios I am waiting for:
▶️ 1. Breaking the sideways range, BTC continues to rise to $125k-$135k; currently, the RSI index on the D1 frame is neutral, not oversold nor overbought, so there is still enough strength to rise further if it accumulates long enough along with good news from governments.
▶️ 2. If it breaks the nearest bottom of $111k, it could test the psychological support level of $100k; at this point, there's no need to mention altcoins anymore, they will be in the red.
Whatever happens, it's best to be prepared with scenarios for them; decide where your TP and SL are suitable, or when to buy more or sell depending on your portfolio.
💵 My plan is to cash out on the old holdings I've held for a long time that are profitable, allocate a bit of capital to buy low-cap or top coins that haven't taken off yet. By the end of the year, if there is a strong wave, I will look to take profits and restructure to focus back on the TOP coins for safety.
This is just a sharing of personal opinions, not a prediction of the future, and only applies to SPOT; I'm not calling for anyone to go long or short. $BTC