Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Breaking News: #BTCCan’t Hold $21500 Resistance

GM! BTC couldn’t cross the 21500-21700 resistance range. It is now trading below 21k. Next support is at 20700-20200 which shouldn’t be broken else we might see 19500-18200 very soon. There are good volumes on BTC trading but external factors are pulling down the markets

ETH is now trading close to its support area of 1550 breaking it will take it to 1480-1440 range. ETH has strong historical support at 1220-1280, until then it has every chance to bounce back. On the upside, 1650 has to be crossed for further rally. Crypto

altcoins continue to rally with good volumes in the last few days but sustainability of this rally depends on movement of BTC like if it goes below 20200 then altcoins will retreat all their gains but if btc ranges between 20500-21300 then the rally will continue! Crypto

Summary: BTC these days always have some blocking from one side or the other. Last time it was LUNA, second time it was CPI, FOMC & now it is Alameda saga. If the rumors are true then this will have huge impact similar to that of Luna on the Crypto markets!

We still don’t have any clarity but better to play safe. Have small bags of Crypto holdings until the saga gets finished & we have more clarity. Even the FAANG stocks have plummeted to their lows & is currently laying off massively. So we should be careful about the dumps!

This post is based on this twitter thread.

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