Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Price Holds Above $22K Despite BCH Merge

GM! BTC crossed the resistance of 22k & it needs to stay above 21700 for continued rally. Bulls will have upper hand if 22500 is crossed & BTC makes a close above it on a 1D candle. We might expect a correction before scaling 23300 but bulls have the upper hand for now!

ETH is now ranging between 1690-1840 range as BTC started to pump. I still feel ETH can head towards 2k before the merge event in a few days if you look at the 4H candle. Support is available at 1690-1520 which bulls need to defend for a sustainable rally! Crypto

altcoins are pumping hard as BTC is stable & breaking important resistance levels. Also EthereumMerge is keeping the excitement alive in the markets. My guess is altcoins will pump along with BTC now while eth stabilizes post ETHMerge event!

I won’t change my bag for the next 2-3 years. So it remains the same. BICO DOT MANA MATIC LRC THETA BIT OCEAN CAKE FTT BNB BCUBE RARI NEAR MOVR GALA are my best bets for the next bull cycle in 2024! Crypto cryptotrading 1000x 100xgem Cryptocurrency

Summary: BTC is doing well today in-line with global stock markets. There is also optimism surrounding the positive CPI data tomorrow. One should be cautious about the MtGox btc hitting the market in next 3-4 days. This can be a black swan event. Else things are looking stable!

I think best is to enjoy the ride way up & also formulate a strategy to ride the journey on the downside. We just need to play carefully with long & shorts. We should get too much excited about anything & play the game accordingly. Right now longs are having the upper hand!

This post is based on this twitter thread.

Comments

Please login to comment.