Bitcoin today faced rejection at 4k , which is a strong psychological barrier. Many bought in high , close to that 4k point or we wouldnt have peaked there. It is my unprofessional opinion That if BTC does NOT breach 4k by Friday and stay there , that Sunday will be a day of a massive selloff , as is often normally the case with crypto market cycles - however this time is different as those people who bought in at 3990 and higher, lower even are going to have stop loss measures in place or simply want to minimize their losses. This especially if BTC dips below 3900 for a sustained period of time during the week.
I am not a professional financial adviser , and this is not to be construed as the predictions of one. Rather , it should be viewed as for entertainment only ;), but be careful. Unless you have the money to HODL , still have faith in that strategy , I would keep a close eye on these levels if you have an open trade with BTC, and this extends to the alts as well; we all know what BTC does to alts, however - if it is to fall to 2k or less, at some point people will seek a safer harbor , and alts may eventually, in my opinion, benefit from a BTC crash.
BTC can only drag alts with use cases down so far until they emerge from the potential carnage.
Fortis Fortuna Adiuvat - and to wit , the market seems very timid, and very scared , otherwise Bitcoin would be rocketing right now. Nobody was willing to commit at >4k.
In my humble opinion, that speaks volumes.
There are several actions that could obviate the above- Bitcoin steady in the 3900 range for more than a couple of days; the further commitment of whales who kept buying as the price rose etc..
Good luck and play it safe.
I am not a professional financial adviser , and this is not to be construed as the predictions of one. Rather , it should be viewed as for entertainment only ;), but be careful. Unless you have the money to HODL , still have faith in that strategy , I would keep a close eye on these levels if you have an open trade with BTC, and this extends to the alts as well; we all know what BTC does to alts, however - if it is to fall to 2k or less, at some point people will seek a safer harbor , and alts may eventually, in my opinion, benefit from a BTC crash.
BTC can only drag alts with use cases down so far until they emerge from the potential carnage.
Fortis Fortuna Adiuvat - and to wit , the market seems very timid, and very scared , otherwise Bitcoin would be rocketing right now. Nobody was willing to commit at >4k.
In my humble opinion, that speaks volumes.
There are several actions that could obviate the above- Bitcoin steady in the 3900 range for more than a couple of days; the further commitment of whales who kept buying as the price rose etc..
Good luck and play it safe.