#ShareYourThoughtOnBTC
🐝 $BTC UPDATE
The $82,500 support was lost. Took an L on my LONG trade, part of profits made on the way up was erased, but this part was quite affordable. So-called correction.
❓ Reason of the dump? Tons of them:
1) Viral tweet (https://x.com/drakefjustin/status/2107837081313505768) that AI breakthroughs can potentially threatens Bitcoin and other crypto in terms of breaking the algorithm used to secure crypto wallets, including Bitcoin.
2) US Government moved (https://x.com/lookonchain/status/2108203900105113988?s=20) Bitcoins worth more than $1.5B from their wallets in the past 24 hours.
3) US-Iran escalation news -> Oil prices surged -> Bond yields go higher -> Stocks dumped
4) OpenAI annualized revenue $20B less than previously signaled (bad for stocks = bad for crypto).
The truth is, Bitcoin is now located in the deep layer of strong supports. Here they are: $81,000 | $79,000 | $77,500. Each one of them can make BTC bounce back to $88,000 and even higher.
👆I still think we will see Bitcoin above $90,000 in Q4 this year
What to do now? Buy Bitcoin on the marked levels. Don't use high leverage. Liquidation should be located below $74,500.
🐝 $BTC UPDATE
The $82,500 support was lost. Took an L on my LONG trade, part of profits made on the way up was erased, but this part was quite affordable. So-called correction.
❓ Reason of the dump? Tons of them:
1) Viral tweet (https://x.com/drakefjustin/status/2107837081313505768) that AI breakthroughs can potentially threatens Bitcoin and other crypto in terms of breaking the algorithm used to secure crypto wallets, including Bitcoin.
2) US Government moved (https://x.com/lookonchain/status/2108203900105113988?s=20) Bitcoins worth more than $1.5B from their wallets in the past 24 hours.
3) US-Iran escalation news -> Oil prices surged -> Bond yields go higher -> Stocks dumped
4) OpenAI annualized revenue $20B less than previously signaled (bad for stocks = bad for crypto).
The truth is, Bitcoin is now located in the deep layer of strong supports. Here they are: $81,000 | $79,000 | $77,500. Each one of them can make BTC bounce back to $88,000 and even higher.
👆I still think we will see Bitcoin above $90,000 in Q4 this year
What to do now? Buy Bitcoin on the marked levels. Don't use high leverage. Liquidation should be located below $74,500.