Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Cash Price Outlook Gloomy

GM! BTC has formed a range now between 15650-16850. If the resistance at 16850 is broken then it can rally to 17900. There is a big sell wall at 17900 which might not be easy to break. On the downside, 15k will act as a support. A rangebound movement expected in short term

ETH is very strong as it has held on to the support zone of 1220-1280. If ETH breaks 1330 then we can see a steady rise to 1380 but ETH will see

selling pressure at 1400. For now, it will remain in a range between 1180-1280. ETH/BTC looks good for BTC accumulation.

Altcoins will remain steady if not strong as BTC is entering into a range much similar to the previous one between 18500-21000. Now the new range would be 15500-17900. If it remains this way then we can see some Altcoins pumping. All the DEX tokens will pump more! Crypto

Summary: BTC has a lot of selling orders around 17900 so it’s unlikely this level will be crossed in the short term. If in case it goes beyond 18125-18500 then that will be a good time to short for target of 16500. We have a upper cap at 20k & lower cap is yet to be seen

There will be more bad news as the Crypto winter will only get chilly & longer. We might see more companies going bankrupt, frauds & scams. So we can expect BTC to come down below 10k at some point. Things are looking weak & only DCA for now.

If there is any new innovation in this space then we might see the winter to be small but with such level of scams, the regulators will only tighten the law against Crypto which will create troubles for everyone. Let’s stay +ve & hope everything will be fine! cryptomarket

This post is based on this twitter thread.

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