BTCUSDT. What a landmark day. Now back to ranging :/
Instrumentally we properly broke the ATH
With some help from sepculation of insututions getting involved, like JP Morgan and Greyscale we wrecked the previous ATH
We did find a top for the moment though at 23820. Now the question is whats next?
My thoughts are we sit in the upper half of this range for a little - the big wicks means buyers are trynna get back to that ATH
But I am skeptical as bears can used this as an opportunity to sell their BTC and short on the bulls
We then enter lower half of range
We either succeed a test at the bottom or fail, upon failure we go test 19.8-20K level and the 50EMA
Or we succeed and maybe push back to the high 23s
At these levels, more so than ever it depends how much money is entering the market
Here, the market cap is so high it means most the retail trailers and investors aren't enough to keep it moving, money is need from fresh investment
On the bright sight of BTC ranging, it does mean your alt coins might have another cycle of greatness!
With some help from sepculation of insututions getting involved, like JP Morgan and Greyscale we wrecked the previous ATH
We did find a top for the moment though at 23820. Now the question is whats next?
My thoughts are we sit in the upper half of this range for a little - the big wicks means buyers are trynna get back to that ATH
But I am skeptical as bears can used this as an opportunity to sell their BTC and short on the bulls
We then enter lower half of range
We either succeed a test at the bottom or fail, upon failure we go test 19.8-20K level and the 50EMA
Or we succeed and maybe push back to the high 23s
At these levels, more so than ever it depends how much money is entering the market
Here, the market cap is so high it means most the retail trailers and investors aren't enough to keep it moving, money is need from fresh investment
On the bright sight of BTC ranging, it does mean your alt coins might have another cycle of greatness!