Guruprasad Venkatesha
Guruprasad Venkatesha 3 minutes reading from Bitcoin

Bitcoin Cash Price Holds at $1900 Despite Rangebound Movement

GM! btc is still in the range between 28k-32k & its facing huge resistance at 31k-32k region. Good thing is 28k is not getting broken. If we don’t break 28k then still it’s possible to break 32k on the upside to go towards 34k levels. We are in the weekend so let’s see!

ETH is also stuck in the range of 1900-2150. It has a strong support at 1850-1700 region below which it won’t be good. It should cross & stay above 2150 for further movement. ETH has confirmed that they will go to PoS in august 2022.

This might sentimentally help it to pump bcoz in reality nothing changes due to this change in consensus. The real change & impact can happen on ETH when it goes through sharding. This is when we will see low gas fees. Until then nothing will change fundamentally.

altcoins are trading quite stable as there is no major meltdown seen across the board due to rangebound movement of btc If we see btc & ETH just trading in the range then we can expect a small altcoins season within this bear market. This can help you to exit some DCAed bags

Any kind of rally in bear market is not for FOMOing but just to book profits. In the same way, when you see red in the market then start DCAing once again. Normally 🐻 markets are excellent to buy good quality coins to make multiple x gains when bull market returns!

For now you should accumulate metaverse nft DeFi tokens when ever you see major correction. Just apply my SIP strategy or buying 10% of your funds at every 10% fall in the prices. You will surely be making a lot of profits this way. Always buy in 🐻 markets & sell in bull mkts

Summary: BTC is still rangebound. We will see huge volatility during the weekend. Both shorts & longs will get liquidated. So no high lev trading for now. Let’s see where the weekly candle closes for btc & next week will be important for the trend! (1/2)

Funding fees are quite mixed so we are not getting much info there. Stock exchanges should stabilize for further movement in Cryptos these are just for short term movements. I’m still bearish on long term due to several macro scenarios such as inflation, fears of recession etc

This post is based on this twitter thread.


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