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
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