Bitcoin / TetherUSShort
BTC: Expecing lower prices until rate cuts!
Updated
The price is approaching the support zone of 61k-
59K and is currently just below the support trendline. If it drops below support zone 1, I expect it to decline further to support zone 2, which lies between 53k and 51k.
However, I anticipate the price will either move sideways or drop until rate cuts arrive. In the last cycle, when rate cuts were implemented, the price initially dipped but then surged significantly. While it's not guaranteed the same pattern will repeat exactly, there are no clear reasons to expect a different outcome. Rate cuts will soon hit!
Altcoins will take a hard hit, when BTC moves lower. Last time rate cuts arrived, Altcoins dipped 60-70% in average. This will most likely lead to 60%+ BTC dominancne.
59K and is currently just below the support trendline. If it drops below support zone 1, I expect it to decline further to support zone 2, which lies between 53k and 51k.However, I anticipate the price will either move sideways or drop until rate cuts arrive. In the last cycle, when rate cuts were implemented, the price initially dipped but then surged significantly. While it's not guaranteed the same pattern will repeat exactly, there are no clear reasons to expect a different outcome. Rate cuts will soon hit!
Altcoins will take a hard hit, when BTC moves lower. Last time rate cuts arrived, Altcoins dipped 60-70% in average. This will most likely lead to 60%+ BTC dominancne.
Note
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Support zone 1 has been broken! Expecting a move down to support zone 2!
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