Personally, I don’t think this scenario will play out, but as traders, we always need to consider two possibilities to gauge the likelihood of each unfolding.
This is my bearish scenario if we lose the 95K support. The next support level would be at 92K, followed by an oversold bounce toward 99K-100K. This bounce might deceive people into thinking the bottom is in, but it would likely face rejection, leading to a harder fall toward 87K.
Again, let me emphasize—I don’t see this scenario playing out, but it’s still a possibility we need to keep in mind.
What can you do? Exit altcoins altogether and wait to see if BTC moves back into the 100K region, which would invalidate this scenario from playing out.
This is my bearish scenario if we lose the 95K support. The next support level would be at 92K, followed by an oversold bounce toward 99K-100K. This bounce might deceive people into thinking the bottom is in, but it would likely face rejection, leading to a harder fall toward 87K.
Again, let me emphasize—I don’t see this scenario playing out, but it’s still a possibility we need to keep in mind.
What can you do? Exit altcoins altogether and wait to see if BTC moves back into the 100K region, which would invalidate this scenario from playing out.
Trade active
So far this bearish scenario has taken over the bullish scenario. We need to always be prepared for any outcome. Minimise your trade size by derisking, use stop losses at all times. If you can even get out and sit on the sidelines thats even better! whatever you do, please understand that the crypto market is highly volatile and protecting yourselves from any future losses is more important than making money.If BTC breaks below 90K, then 87K is imminent.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN ME ON TELEGRAM t.me/aztradescrypto
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.