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Crypto Market Faces Deep Correction After Failed Uplift Attempt
After an unsuccessful attempt to move upward on July 18, a consolidation was formed. There was a struggle around the 117-119K zone. This morning, buyers couldn't withstand the pressure, indicating signs of entering a deep correction. The main support level is approximately between 109-107K. Another sign that this is a correction rather than a reversal is the downward channel. Everyone is being warned that a phase of accumulation of sellers trapped is beginning. We will observe how the price reacts over the next two weeks; this is not a quick process.
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AI Analysis
The recent market action indicates a significant shift, with a failed attempt to advance on July 18 leading to consolidation and a struggle within the 117-119K zone. This failure often signals that mo...
AI Recommendation
Given the analysis, it is advisable to adopt a cautious stance in the short term. Monitoring the support zone around 109-107K is crucial. If the price breaks below this support with high volume, furth...
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.
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