Guruprasad Venkatesha
Guruprasad Venkatesha 2 minutes reading from Bitcoin

Bitcoin Price Holds Above $19500

GM! BTC broke the resistance at 19500 & went past 20k to trade at 21k currently. It has two supports now at 19500 which MA200 & then again at 18000 which is MA99 on a 1D chart, if this is held then we can see further rally. Else price could return to a rangebound market!

ETH did exactly what I said yesterday. It easily broke the resistance at 1450-1480 to reach 1500 levels. Now it’s trading comfortably at 1555 levels. Further rally depends on BTC & ETH on its own can rally until the next resistance at 1750 but then it might be difficult!

altcoins will rally further as btc is strong bullish trend. Even if BTC corrects to 18500, I don’t see correction in altcoins but if btc breaks 18500 then that will trigger a selloff on altcoins. My recent calls on BICO DOT NEAR BCUBE has done 15-30% profit Crypto

Summary: BTC went up too much too fast. This can be a very good bull trap & this rally might top at 22500. I don’t think it can move further up from there. This is just a pull back rally within a bear market. So nothing to get excited about it & just ride for small profits!

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This post is based on this twitter thread.


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