Checked the charts this morning. Here's what I'm thinking.
Everyone's expecting a downturn for BTC, given its current price of $61555.99 and the fact that it's down 2.09% in the last 24 hours.
I'm looking at the bigger picture, though, and I see that ETH is also down, currently at $1630.99.
The fact that both of these major players are experiencing similar downturns makes me think that the market is just experiencing a minor correction.
A lot of people are focusing on the negative, like the fact that XRP is down 3.03% and currently at $1.1196.
But I'm more interested in the fact that SOL is still holding strong, currently at $64.54, and that its 24-hour volume is over $191M.
I think the consensus is missing the fact that the market is still showing signs of strength, like the fact that BNB is only down 1.84% and currently at $588.08.
My contrarian read is that we're due for a bounce, and I'm looking at entry zones around $60780 for BTC and $1614 for ETH, with a stop-loss at $60500 for BTC and $1590 for ETH, and a take-profit at $63500 for BTC and $1690 for ETH.
I'm feeling cautiously bullish, and I think that the market will start to turn around soon, with SOL and BNB leading the charge.
I'm keeping a close eye on the prices, and I'm ready to adjust my strategy as needed.