With the reversal movement starting from $15,000, BTC reached $70,400 in July 2024 and made an ATH, but after the ATH, it fell to $49,000, torturing the market. And then they went back to $69,000 and exhausted the market for a long time with their ATH attempts. If you remember, the 69K-73K region was probed 4-5 times, but could not be passed.
Although BTC made ATHs, it could not be permanent in the upper region and entered into sharp corrections many times.
Because in the past, when BTC made an ATH, it didn't like to go back. Knowing this, hundreds of thousands of margin traders immediately went long and played with the perception of the market to clear them....
After the accumulation in the 69K-73K region could not be exceeded for a long time and the accumulation in the 59K-65K region, Bitcoin broke the resistances this time and experienced a steep rise to 109K.
So what happened again?
A drastic drop from 109K to 74K. Just like the 49K drop from $70,000....
And it went to 110K again and made an ATH, but it pulled back again. Again, as in those times, we are watching a Bitcoin lingering in a certain region such as 104K-108K.
Same movements similar to that period....We hang out horizontally in a certain area...
This time, if persistence is achieved above the 112K region, we can expect another 40% rise. That is, we expect a move to the 146K-152 region. Maybe it can even go as far as 160K if they feel like it....
I think that ETH and BTC below will follow the rise this time, and in the first stage, I imagine a drop in ETH to $7200 and BTC DOM to 53...
I think that the summer months will not be boring....There may be a movement until the end of July......
There are very few days left for good days....
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