Guruprasad Venkatesha
Guruprasad Venkatesha 3 minutes reading from Bitcoin

Bitcoin Price Holds Above $20k Despite Google &amp, Microsoft & Apple & MetaBoost

GM! btc has not only managed to stay above 20k but also is consistently trading above 20200. If it breaks above 20700 & closes there on a 1D candle then we can see it moving towards 21500-22500. If 20700 is rejected then we will see it back to 18500-20000 range! Crypto

ETH has witnessed strongest come back after the ETHMerge happened last month. ETH easily pumped past the 1425 resistance zone & moved towards 1500. If it holds above 1460 then there is every chance ETH can pump towards 1600-1700 levels. It’s looking strong for now!

altcoins are witnessing some buying because of +ve gains in btc & eth but we shouldn’t get too excited until btc closes above 20700. If we see a dump in btc then USDT pairs of altcoins will dump also. In case of a pump beyond 22500, we can expect alt btc pair to dump

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 now trading above 20k but still nothing has changed. The same was witnessed last time before the CPI data & we all know how it dumped back. We are having FOMC, CPI data & several other events coming up in November. So that might be a trigger to dump back!

Shorts can be opened above 20700 or even now with 22500 as SL bcoz chances of reaching that point is very less. Today high leverage positions were liquidated. Total liquidation stands at 700M, highest since July-August 2021 pump! NFA! cryptotrading Crypto

In the meantime, altcoins look better as stability in btc is good for them. If we see a huge pump then btc pairs will suffer. Else they will do well. Try to trade only in liquid coins. If short term bags are in profit then it’s a good time to book some here. Crypto

US stock exchange has opened lower due to the results of Microsoft & Google. Today “Meta” is announcing their results followed by “Apple” on 27th October. This can weigh some pressure on markets too! I think November will be tough month for Crypto

This post is based on this twitter thread.

Comments

Please login to comment.