Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Breaking: Bitcoin Price Holds at $20700 Despite Relief Rally

GM! BTC was unable to trade above the local resistance level of 20700 & now trying to test the psychological 20k mark. The next support is at 19500-18700-18200 where it should again get the support & remain rangebound. BTC should rally above 20700 for further growth!

ETH is stronger than BTC which is seen even on the ETH/BTC pair. ETH has become deflationary ever since merge happened. It has support at 1520-1540 region & resistance at 1640-1680. Technically speaking ETH is looking better than BTC but we should keep an eye on volumes!

altcoins are taking a beating after the relief rally. Keep an eyes on the liquidity as volumes will get easily dried up on altcoins to a few BTC traded everyday. I think it’s time to sell those altcoins that are still in profit & wait for better levels to re-enter! crypto

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 looking uncertain at this point in time. This week is full of events which can dump BTC like how these data driven news from the US have done in the past. So stay light on your bags. If BTC sustains by end of this week then we will see further rally!

ETH has turned deflationary & there is a lot of demand from the retail & institutions but in a dumping market the rally can get tough. ETH is still holding well above 1480 so this week is very crucial for the cryptocurrencies in general!

This post is based on this twitter thread.

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