$BTC Midweek Update:
We have completely broken out of the 66-day Range (63K - 72K).
In the backdrop of a bear market, BTC is likely to see some relief in the short term.
Check out the yellow box in the chart; since the rapid crash of BTC in January 26, it has now reached the fibo level of 0.5 (79K).
BTC is still in the current Supply zone, which is crucial.
Here are two scenarios:
Scenario One: If we break through the yellow Range at 0.5 (79K) and hold above it, BTC's target will be 93K - 98K.
If Scenario One plays out, we can expect a significant pump in altcoins.
Scenario Two: If we get rejected at the yellow Range at 0.5 (79K), the first support level is 75K, and the second is 72K.
Based on recent contract market trends, BTC has been experiencing a high negative funding rate. BTC is likely to rally 📈 for a while.👇
The market for $ETH will follow BTC.
We have completely broken out of the 66-day Range (63K - 72K).
In the backdrop of a bear market, BTC is likely to see some relief in the short term.
Check out the yellow box in the chart; since the rapid crash of BTC in January 26, it has now reached the fibo level of 0.5 (79K).
BTC is still in the current Supply zone, which is crucial.
Here are two scenarios:
Scenario One: If we break through the yellow Range at 0.5 (79K) and hold above it, BTC's target will be 93K - 98K.
If Scenario One plays out, we can expect a significant pump in altcoins.
Scenario Two: If we get rejected at the yellow Range at 0.5 (79K), the first support level is 75K, and the second is 72K.
Based on recent contract market trends, BTC has been experiencing a high negative funding rate. BTC is likely to rally 📈 for a while.👇
The market for $ETH will follow BTC.