I currently have two views on BTC:
1. The first view is the red line scenario in the chart, where it first fakes a break below the previous support and then consolidates for a day or two before rising again. Bitcoin often has such movements, which can be very frustrating, as it intentionally breaks down to force people to sell and tempt them to short, only to pull back up again.
2. The second view is the green line scenario, where the current support at 92 can hold BTC and then rise directly.
The rise following the first scenario will be more sustained, and I currently think it’s a more likely possibility, which is frustrating for those who sell off and miss out. The rise in the second scenario will be relatively short, and after that, it might range before forming a short-term top and then experiencing a significant drop.
As for altcoins, don’t bother with long-term spot investments; in the short to medium term, don’t hope to buy into a coin that will suddenly surge. Right now, the altcoin market is very poor, so I suggest looking for topping patterns to short.
