Checked the charts this morning. Here's what I'm thinking.
Not looking great across the board, most of the altcoins are seeing red, led by
$SUI down over 7% and
$DOT down nearly 6%.
$BTC itself is trading around $75483.82, down a few percent from yesterday.
It's clear that sellers are in control right now.
Here's my take for the next 24-48 hrs. We've got two main scenarios to watch.
IF
$BTC fails to hold the $75220.00 mark, which was its daily low, then I'd expect more downside pressure. In that case, we could see a broader market correction, and I'd be looking to exit any short-term long positions. Protect your capital, fam.
On the flip side, IF
$BTC manages to bounce and decisively reclaims levels above $77000, maybe even challenging yesterday's high of $77584.94, that could signal a potential short-term reversal. If we see that strength, then I'd consider scaling into some positions, but with tight stops.
Right now, the first scenario looks more likely to me. The overall market sentiment is pretty bearish, and most coins are struggling to find support.
Stay safe out there.
#CryptoTrading #MarketOutlook #BTC #Altcoins #Bearish