strong buy
Bitcoin Price Faces Further Drop Before Possible Support Rebound
The altcoin season may not happen! How low will the price go? I've mentioned several times before... I am still holding a short position since May 6th and have been averaging down here.
My main support levels are:
- First at 983,505
- Second at 92,000, which I believe will be the last support, especially since there's a gap on CME (post) and significant liquidity accumulated there—this is where I'll buy into altcoins!
My orders are already set for the buyback! Across smaller local support levels, both altcoins and BTC will be bought up, but everything will be pushed lower first to shake out all the weak holders, and then we'll see a sharp rally!
I’ve also discussed expecting a double bottom post that will serve as a signal for an upturn.
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AI Analysis
The current analysis suggests that Bitcoin is in a bearish phase with the possibility of testing lower support levels before any significant reversal. The trader's perspective indicates a strategic wa...
AI Recommendation
Given the current market scenario, it is advisable to adopt a cautious stance with a strategic focus on support levels around 983,505 and 92,000. Traders should consider setting buy orders at these le...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.