Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Cash Price Still in a Range &amp But Not Yet Over

GM! btc is still in a range between 18500-21k at the moment. The US unemployment data is the reason why the markets dumped now. There is also the Fed rate meeting next week which can push btc close to previous lows of 17400. Local support at 19500 & resistance at 20700

ETH is trading in a range between 1260-1380 in the past couple of weeks. It’s fine as long as ETH stays above 1220 & consolidates between 1220-1280 because anything below 1220-1170 would lead ETH below 1k levels. Right now resistance is at 1400 & support at 1280

altcoins are looking weak & can drop 10-20% from here if we go by total market cap of alts without btc where it has a support to bounce back. But for this to happen we should have either a very strong btc or very weak btc so next week will be crucial. 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 still in a range & not easily breaking down. There is huge buying happening at 17500-18500 levels so demand zone is keeping it above it. There is supply zone now at 20k+ levels so we are seeing correction at those levels. cryptocurrency

I feel we will bounce back & will stay positive until next week but after the fed meet, we may experience a dump which pushes us back to 18k-19k levels. Many other negative news can push btc to below 17400 levels. There will be strong buying in the area of 13k-16k. Let’s c

This post is based on this twitter thread.


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