Bitcoin's Next Move
Don't underestimate!
Bitcoin has experienced a significant surge with high trading volume, confirming a weekly low that could mark a substantial bottom. Whether this level will be revisited remains uncertain, but I'm pleased with my BTC purchase at 60k. On July 5th, Bitcoin dipped below 54k, leading me to buy more Solana, which has since outperformed Bitcoin over the past four weeks. I'm cautious with other altcoins due to their continued underperformance and failure to break past support levels.
Three days ago, I noted that a close above 58.5k would lead to a mini squeeze, which indeed occurred.
Link: https://open.substack.com/pub/panicdrop/p/bitcoin-on-track-for-a-reversal?r=36huj4&utm_campaign=post&utm_medium=web&showWelcomeOnShare=true
At that time, I swapped my LINK and IMX positions for Solana, which has also outperformed.So now, Bitcoin is back in the 60k to 70k range, making a test of the upper side around 69k very plausible. I do expect short-term volatility, so don't get shaken out.
Just a few points on Trump’s potential influence on the crypto market: His VP pick, Vance, is a Bitcoiner, and Trump will be speaking at a Bitcoin conference next week. A pro-crypto stance from a leading presidential candidate is significant for Bitcoin’s legitimacy and potential regulatory easing. If Trump wins, it sets a promising stage for Bitcoin in 2025 and beyond, increasing the likelihood of a new all time high either this year or early next year.
Hope you enjoy my updates. Don't hesitate to follow me or copy my portfolio so we can profit together!
Written by Timothy Assi, a popular investor on eToro. Follow & copy my portfolio:
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