To be honest, $BTC is looking kinda interesting right now. The government slashed the VAT on entertainment and kids' meals from 20% to 5%. With schools on break, family outing costs have dropped significantly. This tax cut is basically a move to boost consumption; when money starts flowing, the economy revs up, which is definitely a good thing for risk assets like Bitcoin.
I'm keeping an eye on the $60,500 to $61,000 range. If the chart can pull back to this zone, I think it's a solid entry point. Down at $59,500, we've got hard support, and I think it can hold. Honestly, at this level, I expect the big players to be accumulating around $61,500, gearing up for a nice weekly close coming up.
#BTC
I'm keeping an eye on the $60,500 to $61,000 range. If the chart can pull back to this zone, I think it's a solid entry point. Down at $59,500, we've got hard support, and I think it can hold. Honestly, at this level, I expect the big players to be accumulating around $61,500, gearing up for a nice weekly close coming up.
#BTC