Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Price Bounces From $18500 To $19500

GM! btc bounced from its support at 18500 after almost breaking 18200 few days ago. Now it’s trying to break the resistance @ 19500 which won’t be easy but break above 19700 will make it move towards 20200. Currently the support is at 17400 & resistance at 20400! Crypto

ETH nicely bounced from the 1220-1280 zone which has been a strong support area for ETH but prices should cross 1480 for upward momentum which is very far away from the current levels. If we see good movement in btc in the following week then expect ETH/BTC to perform well!

altcoins lately are dumping more than they pump. So DCA only quality coins & stay away from low caps which has no use case. Some speculative movements is seen in low caps & fan tokens but these are just for short term trades. No positional trades for now!

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: FED has made it clear that even in 2023 they will be actively raising the interest rates which will make btc to drift slowly towards the downside with a lot of sideways movement. So we will witness a slow burn than sudden dumps. (1/3)

Nothing is unexpected for now. Interest rates, economy going through hard times, gas prices are all taken into consideration already by the markets. MiCA regulation is coming to Europe which is a huge plus & similar law is coming in the US also. So these are positives. (2/3)

But we are in a cycle. No matter what graph or indicator is saying what now but my conclusion is we are in a bear market & will be here for more than a year before the next bull cycle. Big players are coming to Crypto markets. Even governments will start their own exchanges!

This post is based on this twitter thread.

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