Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Cash Price Outlook Gloomy After CPI Data Release

GM! BTC is still in the range between 18500-19500 since the last few days. This is going to change after CPI data is out tomorrow. If we break 18125 then yearly lows can be tested. BTC has not reacted to global stock exchanges so next move will be interesting!

Ethereum has made a good support at 1270 as it bounces back strongly when ever it goes there. Anyways, 1220-1280 has been a strong support zone & 1400 has become resistance point. Ethereum is witnessing deflation after the merge. So demand might come at lower levels!

altcoins will be the biggest losers in the next weeks irrespective of where BTC heads due to low volumes & no interest in them. All the money is now flowing into BTC mainly & hardly some frontline coins are witnessing accumulation. For the moment, stay in large cap alts only!

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 will take some direction in this month. In case if we see a pump then it can sustain for sometime because too many shorts are there in the system currently so short squeeze will be epic. In case if a dump below 18125, we might see 16k-17k very soon!

Crypto markets have shown no weakness as compared to stock markets & the escalation of tensions in Ukraine. There might be much wider issues for the over all economy for several reason but still Crypto have remained firm. This can result in big movement either side!

This post is based on this twitter thread.

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