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Market Hesitation Continues Before Monthly Close and New Month Opening
Good morning, a brief update on the market.
Many may have thought yesterday that it was the time for altcoins and that the bull run had finally arrived, but that wasn't the case. It was merely the opening of the week, as I mentioned yesterday. The market was pushed in both directions, making it difficult to predict the continuation of the overnight long position.
My short trades on altcoins also didn’t hold; I took a profit on BCH and a slight loss on Ripple (-0.5%). I am still holding BTC; personally, the short scenario is invalidated if BTC closes above an important and high-volume zone between 109k and 110k. Otherwise, I continue to wait for a drop to 98k.
I'm curious about how Monday will close and how the new month will open—any guesses?
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AI Analysis
Market Context and Recent MovementsThe recent market activity indicates a period of indecision among traders. The initial bullish expectation for altcoins was quickly challenged, revealing that the mo...
AI Recommendation
Strategic Outlook and Next StepsInvestors should remain cautious until BTC confirms a break above the 109k-110k zone to validate further upside potential. Maintaining a wait-and-see approach around th...
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.