BITCOIN: IT'S NOT OVER (WATCH ASAP)

Jason Pizzino

Market Overview

The cryptocurrency market has experienced a significant correction, with Bitcoin dumping nearly 6% and other coins also showing weakness. The overall cryptocurrency market cap has also corrected.

Key Points

  • Bitcoin has been rejected at $102,000 and is currently experiencing a correction.
  • The Fear and Greed Index is still in extreme greed, which could lead to a further reset.
  • The three-day rule has been triggered, indicating a potential turning point in the market.
  • The US dollar is showing relative strength, with a potential break above 109.

Support Levels

  • S&P 500: 5,600 - 5,500
  • Bitcoin: $87,500 - $78,700
  • Total Crypto Market Cap: 2.96 trillion - 3.1 trillion

Alt Coins

  • ETH: $3,100 - $2,800 - $2,400
  • Solana: $195 - $187 - $138
  • XRP: $2.40 - $1.60

Outlook

  • The market is expected to be volatile, with potential further downside.
  • However, the macro cycle is still intact, and further upside is expected in the long term.
  • It's essential to remain patient and calm, as the market is likely to chop around before making its next move.