Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Dead Cat Bounce? Bitcoin Price Bounces Back to $18190

GM! BTC dumped to 18190 before the release of CPI data but the numbers were flat so recovered above 19500. Now if it crosses & stays above 20200 levels then we can see 20700-21500 levels. On the downside, 18100-17400 will act as strong support. Cryptocurency

ETH went below 1220 strong support zone yesterday before the CPI numbers were released but quickly bounced back to 1320 levels now. Again we are in the range of 1220-1350 for now. We can see a change in the trend only if it goes above 1400 else 1220 will act as support!

altcoins are seeing some green after dropping along with the large caps yesterday. I would still stay away from altcoins until BTC stays stable above 20k & crosses 20700. If this doesn’t happen then they will dump back hard to their previous lows. We can wait for entries!

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 has bounced back from 18100 levels which is good but still it needs to cross 20700 else this will be just a dead cat bounce before the big dump. If BTC manages to cross 21500 then lot of shorts will be covered & this can trigger further rally. (1/3)

Chances of this happening is very low. I can see whales are playing some games here. So stay away from getting into big positions. There are still uncertainty concerning the economy, tackling of inflation, wars, oil prices which has huge impact on the world. (2/3)

We are still in bear market & suddenly won’t go into bull for nothing. When ever you see new lows on BTC then that’s the best time to grab some quality coins. Until then sit on the sidelines without doing anything & just allow @Bcubeai bots to do it’s job. Let it work for us!

This post is based on this twitter thread.

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