Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Gem Brace for a Big Rally at $21500, DCA!

GA! BTC is unable to break the resistance at 20500 due to lack of

buying pressure which shows any movement to even the next resistance zone at 21500 won’t be sustainable. The support remains firm at 18500-17400. If this gets broken then 🐻 will take control of the market!

Ethereum is doing what BTC did during the merge rally. Even though BTC went past 20k, we didn’t see much happening on ETH. For now 1400 is acting as a strong resistance & 1220-1280 range is the support zone. Unless ETH rallies, we can’t expect altcoins to perform!

altcoins are quite tricky at this point in time. They will rally only if BTC crosses & holds above 20500. Any movement towards 20500 & rejection will make altcoins even more miserable. We need stability on BTC above 20500 level.Above 21500 then expect a big rally!

Summary: BTC is expected to stay strong until 13th October so a rally upto 21500 can’t be ruled out. After that it will come back to 20k-18k levels. There is no reason for the rally to sustain no matter what anyone says. This is the best time to DCA! NFA! cryptocurrency

Don’t expect any miracle to happen in the short term. All the global currencies are weak but that won’t make Cryptos a safe haven. This is a failed theory by some maxis. On the long run for sure Cryptos are better hedge than any other asset class. Buy slowly & DCA!

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This post is based on this twitter thread.


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