Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Price Outlook Gloomy But Poised to Advance

GM! BTC is stuck in a range between 18500-19800 at the moment. Break below 17400 will open the gates towards 16k-13k & breakout above 20200 will lead to 21500. Breakout scenario is unlikely. Few attempts will be made towards 17400 before it finally goes down below it!

ETH successfully bounced from 1280-1220 support zone which has acted as a strong long time support zone. If ETH manages to trade above 1340 then we can see 1400 as the imminent target. Longs should have a SL at 1220. For now it’s ranging between 1220-1400 cryptotrading

altcoins are highly volatile except low cap, low value Cryptos which are pumping hard. They are just pump & dump in which there is high risk of losing money. Just trade them if you want but don’t HODL then if the trade doesn’t work out. Keep a strict tight SL! cryptocurrency

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 ranging & so is Ethereum as there are no unexpected news for now. I think BTC will make few more attempts on the downside before finally breaking the 17400 levels to touch a new ATL for the year. Still the bottom is not in IMO. (1/2)

Spot Trading volumes on top tier Crypto exchanges have gone up by 36.8% & on lower tier exchanges the volumes have gone up by 12.3% which indicates big interest in spot markets due to high volatility. Top tier exchanges now represent 94.3% of total spot volumes. cryptotrading

This post is based on this twitter thread.


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