Guruprasad Venkatesha
Guruprasad Venkatesha 1 minutes reading from Bitcoin

Breaking: Bitcoin Price Is Looking Weak

GM! BTC is not moving at all while shorts are building up heavily amid low

volumes. 18500-19700 has been the range for sometime but there is more downside risk until 17400 compared to probability of BTC touching 20200 in the shorter TF! Below 17400, expect 16k-13k

ETH is turning deflationary which is a good news but market sentiments are very weak. Failure to break & trade above 1400 tells us that eth is very weak now & can touch 1130 after breaking 1220. If the weak support at 1130 is broken then easily it can dump below 1k mark!

altcoins have dumped very badly. It maybe partly due to sell off ahead of CPI data getting released later today. Preference of traders is mostly in large caps especially BTC by selling altcoins but my bag will remain the same which I share everyday.

Summary: BTC is looking weak & people are getting frustrated. So in case of bad CPI data, for sure markets will dump close to yearly low of 17400. If the numbers are better than expected then we may see a pump. This pump will not last long just like in the previous cases!

All the stock exchanges are doing terrible, there is no volumes in Crypto markets either. Going forward, markets will turn weak. We will see a dump before stability arises again! Crypto

This post is based on this twitter thread.


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