Crypto Market Update And BTC Price Prediction
Assalamu Alaikum
Friends as today is sunday and sunday is weekend and here is weekly closing. Friends today is Sunday i.e. the last day of the week so today the relative market will see less volume and most of the coins will see very little price fluctuation. See if I mention an overview of the crypto market where today Bitcoin stands around 94 thousand 563 dollars and is in a 0.25 percent uptrend, as well as Ethereum ($ 3,282 - +1.04%), BNB ( 696.38 $ - +0.53%), Sol (187 $ - +0.44%), XRP (2.5 $ - +9.11%), ADA ( 1$ - +11.9%) etc.
Note, as the volume in the market is low, we do not see any major downfall or correction based on which you can buy low or DCA. But I think if you can wait a little longer, this opportunity might come up for a nice purchase. However, if we now look at the chart pattern of Bitcoin, we can see that a very important spot for Bitcoin is the range from 90 thousand to 92 thousand. And that is the perfect place to make your first purchase But I don't think it will be very fruitful for you if you want to take entry above it. See Bitcoin has come to the exact same range twice before and those who bought here at that time can set a minimum target of $100,000. Try to understand the point, 1 lakh range was 2 times as resistance earlier and it has now become a very strong and sure target range. In addition, we can see a very strong pump when we cross $100,000 again and take the $100,000 range as a spot. We can keep the next target from 1 lakh 4 thousand to 1 lakh 6 thousand.
So far we have talked about 4 hour time frame but now if we move to 1 day time frame we can see that Bitcoin is repeatedly taking 90k to 92k range as spot and going higher. But resistance is coming from top to bottom which is a bearish pattern. That is, it is slowly moving downwards, and when the price of Bitcoin breaks its spot and goes down, we can get the next target from 80 thousand to 82 thousand dollars. And that will be suitable for your 2nd entry. But the important thing here is that we will go into this range only when we cross the current spot. But another thing is that Bitcoin is still above 200 EMA on 1 day time frame which is a good side. In other words, if there is more volume in the market, we can also notice the pump.
However, on January 25, our CPA data is coming, from there we can have some idea whether we are going to pump or dump. The FOMC is also scheduled to meet between January 28 and 29. So now is a time where the market can be a bit volatile which I think futures traders in particular need to tread a bit carefully.
However lastly I want to repeat or remind that if you want to invest in Bitcoin then your first entry can be 90 thousand to 92 thousand dollars. And your 2nd entry would be between $80 and $82k and if you bought at a higher price for some reason then $80k is the right place to do your DCA. And your 1st sales target can get 1 lakh dollars and next target can get from 1 lakh 4 thousand to 1 lakh 6 thousand dollars. Look friends I am not a professional trader, that means when you take a trade you must do more research on your own . So friends, I am leaving here today. May you all be well, Allah Hafiz.
https://x.com/youshamunna4/status/1878459646467625432?t=0S5cMbY7ItzTV1MT8Jvnvg&s=19
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