Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Time to DCA!

GM! BTC perfectly held the support at 19650 & is now trading above the local support of 20200. If BTC holds above 20500 on a 1D candle then we can see it going towards 22k-22.9k where it faces resistance. BTC is now in capitulation zone so one can start to accumulate!

ETH continuous to be weak against BTC during this market downfall. ETH/BTC should hold the 0.0461 levels for ETH to be stronger else it will lose out to BTC , technically ETH looks good as long as 1k is not broken. ETH below 950 will make it test its previous lows!

altcoin rally is not going to happen until BTC is making a few green weekly candles. For now it’s the time to DCA good quality coins like ATOM ALGO XTZ BICO FLOW GALA MANA SAND BCUBE FTT BNB as they will perform well due to their intrinsic value. cryptotrading

Summary: BTC is watching out for the news to make its next move. If BTC breaks 19600 this time then we will see it testing the lows that it made last week. If the CPI data & FOMC

meet on July 13th & 27th respectively is positive then expect BTC to cross 22900 towards 25k

On the long term technical analysis, BTC is over sold on the RSI. It has never been in such a over sold level ever in its history! Remember this is long term view & not for short term. It’s the best time to start DCA! NFA! Cryptocurency CryptoMarket cryptotrading

This post is based on this twitter thread.


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