It's been a while since I've posted anything about Bitcoin...although we live in a pretty boring period of time as far as price action goes, today I feel like conveying my opinion regarding what I see may happen in the short term. with BITCOIN.
Looking at the 4h BITCOIN chart on coinbase we clearly see two quite important supports below the current price of BTC.
The most important one, in my opinion, is the one we are about to touch, the range from 63000 to 62000$ is a good floor in which we should see a strong reaction...obviously, the price could fall even more, since there is a good gap between $56,000 and $52,000 as well but I hope the ETFs don't let it fall so much, otherwise it could be a commercial disaster for them in my humble opinion.
I could be wrong, but I think that what we are currently seeing at the price action level only responds to the management of these large ETFs and it would be very absurd for them to sell below $62,000 when many of them have accumulated so much BTC above $60,000, do not you think?
Posted Using InLeo Alpha
I think it's unlikely for BTC to drop below $62,000 before some pump happens. The ETFs there could take some profit or cut their losses before letting it go down.
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