Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Still Holds on to $18500 Despite Sell-Off

GM! BTC is still holding on to 18500-19600 range despite the sell off we are seeing in the stock exchanges. 17600 works as strong support & demand zone is in the range of 13k-19k. Short term resistance is at 20500, if this is broken then 23590 & 25000 will be tested!

ETH has a strong base between 1220-1280 & bounces back every time it comes to that range. We can see further bullish move only when it close above 1425 else it will range between 1260-1400. Still eth is looking weaker compared to BTC & trend has been this way since merge!

altcoins are looking weak except some manipulation here & there. They are excited on the days when we see green in the market but dump more when it turns red. It’s better to use these pop ups to just sell those which are in profit. Not a buying opportunity here! 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 might have good bullish run for next one week for two reason. The first one is CPI data will be released on the 13th October so the run up to it might be +ve. Secondly, The US stock exchange is highly oversold so this can lead a rally there which might help BTC

If the global stock markets won’t bleed in the next two weeks then it can turn cryptocurrency markets +ve in the short term. My view on long term view hasn’t changed as economic crisis is here & will get worse in next few months. We will see recession in many large economies!

This post is based on this twitter thread.

Comments

Please login to comment.