Just finished reading the latest news. Here's my take.
I think BTC is due for a correction if it breaks below $60104, in which case I'd set my stop-loss around $59000 and look to buy back in at $58000.
If BTC holds above $61434, I'd consider going long with a take-profit target at $62200, and if ETH breaks $1725, I'd ride the momentum with a stop-loss at $1680.
I'm leaning towards the first scenario as BTC's 24h change is only 0.62%, indicating a lack of conviction from buyers, and ETH's 4.09% gain might not be sustainable.
The fact that SOL is up 2.55% and has a decent volume of $288M suggests some altcoins are still attracting attention, but overall, I'm cautious about the market's direction, especially with ADA's large 6.72% gain, which might be due for a pullback.
If XRP breaks $1.1125, I'd consider buying, but for now, I'm waiting for a clearer signal, and with the current market data, I think it's wise to be patient and not overleverage, especially with the Fed rate hike expectations slowing down.
I'm keeping a close eye on the $61434 level for BTC, and if it holds, I might reconsider my stance, but for now, I'm bearish, and I think we might see some downward pressure, so let's wait and see how the market reacts, imo.
#cryptomarket #bitcoin #ethereum #tradingstrategy #bearishmarket
I think BTC is due for a correction if it breaks below $60104, in which case I'd set my stop-loss around $59000 and look to buy back in at $58000.
If BTC holds above $61434, I'd consider going long with a take-profit target at $62200, and if ETH breaks $1725, I'd ride the momentum with a stop-loss at $1680.
I'm leaning towards the first scenario as BTC's 24h change is only 0.62%, indicating a lack of conviction from buyers, and ETH's 4.09% gain might not be sustainable.
The fact that SOL is up 2.55% and has a decent volume of $288M suggests some altcoins are still attracting attention, but overall, I'm cautious about the market's direction, especially with ADA's large 6.72% gain, which might be due for a pullback.
If XRP breaks $1.1125, I'd consider buying, but for now, I'm waiting for a clearer signal, and with the current market data, I think it's wise to be patient and not overleverage, especially with the Fed rate hike expectations slowing down.
I'm keeping a close eye on the $61434 level for BTC, and if it holds, I might reconsider my stance, but for now, I'm bearish, and I think we might see some downward pressure, so let's wait and see how the market reacts, imo.
#cryptomarket #bitcoin #ethereum #tradingstrategy #bearishmarket