Analysis $BTC 02/05/2024

Bitcoin, really disastrous, unfortunately we fell to the green range and although it shows good support as we already predicted, it is still a bad thing for the BULLS here. Honestly, I expected the price to stay at $60/$59, but there were no big buying orders during the holiday that could stem the decline.

This week has been hell, CZ was in trouble, the founder of Bitcoin Cash was in trouble, other big men in the Crypto sector were in trouble with the courts, truly hell, and this is directly reflected in the Crypto market as a whole.

The monthly chart has opened and now we need to close above $60,000 today or things could get even worse quickly. I would like this drop in the green box to be just a price deviation here and we get back above $60,000.

There are not many large buy orders yet, but those that are are being assigned to USD 52K/USD 54K and the sell orders are still being assigned for the vast majority to USD 65K, but there is no point in looking too. A lot on them now, what we should focus on is $60,000 which is the key price here for the BULLS, if we don't get it back then we are screwed.

The price will get there (60k) and we should pass without difficulty, that's what I'm going to wait for here.

Of course I wouldn't wish we had gotten that low, but it's not something we can control, what we're going to do when we're at that point, that's what we can control. See; Several good Altcoins arrived at very low prices, and I took the opportunity to buy some, and I published 2 of these here ($ARB, $MATIC), so don't look at the worst (THE FALL OF BITCOIN), but at the best (THE OPPORTUNITIES TO BUY GOOD, CHEAPER ALTCOINS).

I will have a post today about Altcoins and explain it better!

I'm still optimistic here at BITCOIN, even though we're not doing so well anymore, but I respect anyone who thinks otherwise, that's okay!

We will soon recover USD 60K!