Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Cash Price Holds Above $10,000 Despite FOMC

GA! BTC is again in a range & is trying to break the resistance at 16700-17200. If it successfully breaks 17200 then we will see further movement towards 18400-19k else we will be back to support at 16300-15500. cryptocurrecy

ETH is struggling to trade above 1220 ever since it broke out of the 1220-1280 range. ETH is currently looking weaker than BTC & there is a chance that ETH can test 1250 before testing the previous lows at 1080. For now 1050 acts as a crucial support! Crypto

Altcoins are popping randomly with no reason which sounds like a exit pump where projects look for exit so just book profits & don’t hold for long term if bought for short term. This rally will not sustain as it’s not driven by organic volumes but just pump & dump! Crypto

Summary: BTC got more stable on back of news from FOMC that interest rate will not go up like the way it has been & also calls for increased transparency by Binance like proof of reserves, merkle tree etc. but this will be temporary sentiment. Bearish mood will be back soon!

BTC target of 10k is still intact & needs just one more bad news for that sell off to happen. Although many are buying, the effect of FTXScandal is not completely priced in. We are in a long weekend now so volatility can be expected. Trade with strict SL! Crypto

But there is nothing to worry if you are a @Bcubeai user as we have strategies that has delivered anywhere between 50-70% in the last one month despite the bad markets. So check out our marketplace & start trading on autopilot. Crypto BCUBE cryptotrading

This post is based on this twitter thread.

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