BTC, yesterday the US stock market collapsed, pulling Bitcoin and of course Altcoins after it. Bitcoin has tested the lower limit of the 60,500 support zone, which it previously wrote about.
In general, this is a normal correction from the 53,000 growth, now the 0.618-0.786 Fibonacci levels have come into the zone. At the moment, it is important not to break through this zone downwards. There are also support levels below in the form of an uptrend. Today it is 58,600, it is clear that the trend is in an upward movement and, for example, in a week the level will be 59,200 and so on. It is critically important to maintain this level, as well as the medium-term uptrend, see the chart. Bitcoin is currently trading on a medium-term setup. And as before, a breakout and consolidation above 70,000-73,000 is needed to reverse the trend.
Yesterday it became clear, it is clear to many that the US Federal Reserve has overstayed its interest rates, and they should have been lowered at least 1 time. In September, it will be more than likely to be lowered! Urgently, they can lower it by as much as 0.5 points, instead of 0.25. It will also give investors and large funds a significant green signal! But everything can start earlier, "buy on rumors, sell on the news"
withdrawal from exchanges exceeds input - correlation
Altcoins, along with bitcoin, have received a correction. But at the time of the correction, there was also a correction in the Dominance of Bitcoin. Which actually plays into the hands of Altcoins. Nevertheless, there were altcoins that adjusted minimally. Now it is the same for altcoins, the medium-term uptrend is slightly below the price value. It is important not to lose this uptrend!
https://www.tradingview.co.../
In general, this is a normal correction from the 53,000 growth, now the 0.618-0.786 Fibonacci levels have come into the zone. At the moment, it is important not to break through this zone downwards. There are also support levels below in the form of an uptrend. Today it is 58,600, it is clear that the trend is in an upward movement and, for example, in a week the level will be 59,200 and so on. It is critically important to maintain this level, as well as the medium-term uptrend, see the chart. Bitcoin is currently trading on a medium-term setup. And as before, a breakout and consolidation above 70,000-73,000 is needed to reverse the trend.
Yesterday it became clear, it is clear to many that the US Federal Reserve has overstayed its interest rates, and they should have been lowered at least 1 time. In September, it will be more than likely to be lowered! Urgently, they can lower it by as much as 0.5 points, instead of 0.25. It will also give investors and large funds a significant green signal! But everything can start earlier, "buy on rumors, sell on the news"
withdrawal from exchanges exceeds input - correlation
Altcoins, along with bitcoin, have received a correction. But at the time of the correction, there was also a correction in the Dominance of Bitcoin. Which actually plays into the hands of Altcoins. Nevertheless, there were altcoins that adjusted minimally. Now it is the same for altcoins, the medium-term uptrend is slightly below the price value. It is important not to lose this uptrend!
https://www.tradingview.co.../
5 months ago
