'Close But No Cigar' for Bitcoin – Altcoins Hit Major Resistance
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🚨 Close But No Cigar for Bitcoin – Altcoins Hit Major Resistance 🚨
🌟 Correction Likely – Or Do We Keep Pumping? 🌟
In today’s market breakdown, we’re at a critical crossroads for Bitcoin and Altcoins (Total3). 🚦 After months of bullish runs, both markets are approaching major resistance zones, and caution is key moving forward.
📌 Total3 (Altcoins Excluding BTC & ETH):
938B Resistance: After breaking out of a long-term descending channel and reaching the 600B–938B targets, Total3 now faces a significant resistance zone.
A pullback could be imminent unless we break and flip this resistance into support. Be careful before jumping into long positions at these levels.
📌 Bitcoin’s Psychological Barrier:
100K Level: Bitcoin came close, but no cigar to hitting this major psychological milestone. This remains an untouched resistance, with 96K acting as interim support.
Key Supports: Watch for levels at 91K and 88K. These areas could provide buying opportunities if Bitcoin retraces.
🎯 What’s Next? While we celebrate the incredible bullish momentum in recent months, this is not the time for FOMO. Both markets are at pivotal levels:
A breakout in Total3 above 938B or Bitcoin above 100K would signal continued bullish momentum.
A rejection might result in pullbacks, offering better entry points.
Strategy Alert: I’ve started to explore selective short positions on altcoins while watching these key zones. Longs will come into play only after confirmed breakouts above resistance.
📊 Check out the charts for deeper insights into these critical levels!
One Love,
The FXPROFESSOR 💙
🌟 Correction Likely – Or Do We Keep Pumping? 🌟
In today’s market breakdown, we’re at a critical crossroads for Bitcoin and Altcoins (Total3). 🚦 After months of bullish runs, both markets are approaching major resistance zones, and caution is key moving forward.
📌 Total3 (Altcoins Excluding BTC & ETH):
938B Resistance: After breaking out of a long-term descending channel and reaching the 600B–938B targets, Total3 now faces a significant resistance zone.
A pullback could be imminent unless we break and flip this resistance into support. Be careful before jumping into long positions at these levels.
📌 Bitcoin’s Psychological Barrier:
100K Level: Bitcoin came close, but no cigar to hitting this major psychological milestone. This remains an untouched resistance, with 96K acting as interim support.
Key Supports: Watch for levels at 91K and 88K. These areas could provide buying opportunities if Bitcoin retraces.
🎯 What’s Next? While we celebrate the incredible bullish momentum in recent months, this is not the time for FOMO. Both markets are at pivotal levels:
A breakout in Total3 above 938B or Bitcoin above 100K would signal continued bullish momentum.
A rejection might result in pullbacks, offering better entry points.
Strategy Alert: I’ve started to explore selective short positions on altcoins while watching these key zones. Longs will come into play only after confirmed breakouts above resistance.
📊 Check out the charts for deeper insights into these critical levels!
One Love,
The FXPROFESSOR 💙
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