Currently, markets are quite boring, aside from some smaller token moves. Larger tokens continue to trade in a range that seems to becoming more and more narrow. This could be an indication that we will see some volatility coming back into the market.
I will only focus on BTC$ today, but I’m happy to take a closer look at other coins, too. Simply ping me privately.
The base line seems to have been the reference point over the past 6-8 weeks. We crossed it on our way down (at around $55k), and since then, we have barely managed to push back above it.
An unpopular opinion might claim that it looks like a „dead cat bounce“. I think we can only confirm that this is the case if we start trading below $29k, which could trigger further selling pressure. However, if it holds, everybody will say it was clear that we were in a consolidation phase. I reckon we need to push through $38k to get some bullish momentum back.Weiterlesen