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BTC has now reached the $87K area. At this point, I don’t expect an immediate and aggressive reversal to the downside.


Instead, #BTC could continue trading sideways around these levels for another 1–2 weeks before potentially seeing a stronger correction, with a downside target of around $65K–$67K.
Over the next week, I think this market structure could create a favorable environment for ETH and some altcoins to perform. It could also be a good opportunity to gradually reduce exposure to weaker positions.
Personally, I have no intention of buying or going long on any altcoins at this stage. My main focus is on reducing positions in weaker altcoins and getting out of trades that I’m no longer comfortable holding.
I’d rather hold USDT, stay patient, and wait for a stronger market correction, which I’m currently expecting sometime around October or November.
BTC has already moved from $82K down to $57K, and then from $57K back up to $87K. So a move back toward $65K–$67K is absolutely possible. In crypto, moves of this size are not unusual.
The most important question is:
When the market finally sees a major correction, who will still have the capital available to buy?
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BTCBTC-0.67%
ETHETH-1.26%


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Comment 6
asadeq52
The bull market is at its peak 🐂
GateUser-9e460d6d
Paying close attention🔍
GateUser-c09e74c5
Off to a strong start 🚀
GateUser-c09e74c5
very nice
Yasirjutt143
ny I will be there for the weekend or is that the kids and I can do it and get a y 😔 was a bit better today than me for me ❤️ I don't know what you are doing the weekend and the kids are a little more than welcome to do that for us all prompt out of an issue with the kids in the office and the boys are not 🚭🚫 and I will have to do it now if you want me and the kids to go 😔 to
GateUser-5d7b6bd3
I think so too, after all, there are still signals of rate hikes.