Crypto markets remain volatile due to weak economic conditions and geopolitical uncertainties. Recent movements of important cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) give investors clues about developing short and long-term strategies.
SHORT-TERM STRATEGIES IN BITCOIN
BTC has recently been trading in a range between $63,500 and $64,000, and these levels stand out as important support and resistance points reflecting the market's instability. In the short term, investors can shape their strategies by considering the potential for BTC to reach the $65,000 level. After hitting a rebound high earlier in the day, BTC continued to test support levels with a strong short squeeze. BTC, which has experienced a retreat at the level of $ 63,559, should be watched carefully in the short term.
MEDIUM AND LONG-TERM POSITIONS IN ETHEREUM
For ETH, investors can aim to reach $3,220 while trading in a range of $3,120 to $3,150. Medium and long-term positions should be created by carefully calculating entry and exit levels. The current entry level in ETH is $3,320 and the exit level is $3,165, and the gain from this position is 55 points. ETH tested the support level with three consecutive declines on the four-hour chart, but this move did not lead to a rebound in the short term.
CENTRAL BANK IMPACT AND FUTURE EXPECTATIONS
The statements of the US Federal Reserve (FED) and Chairman Jerome Powell are among the main reasons that triggered the recent decline in crypto prices. However, it remains unclear how long the effect of these statements will last and whether prices will rise again. The current weak state of the crypto market and the fluctuation of prices indicate the potential for long positions to gain strength and rise after the consolidation period.
🔥🔥🔥 While market fluctuations are expected to continue, investors should be wary of short-term fluctuations and review their long-term strategies. Uncertainties in crypto markets require investors to think strategically. Opportunities and risks can be managed with careful analysis and correct positioning‼️
