We have stated that if the monthly close is above $58,800, we maintain our bullish expectation in Bitcoin and altcoins.
The monthly close of Bitcoin at $61,354 increased the risk appetite in altcoins. We watched good rallies led by metaverse-themed altcoins.
Today, with the 1% rise in Bitcoin dominance, we observed that BTC managed to rise above $63,000 again.
When we look at the short-term outlook in Bitcoin, we see that the downtrend from $67,000 has been broken and the rise continues after this level has been tested many times.
We mentioned that all the withdrawals experienced after the ATH broke in Bitcoin are also buying opportunities for altcoins. We maintain this opinion.
We have a resistance at $63,600 ahead. If we make a new peak above this level, the risk appetite in altcoins will increase. If we see a 4-hour close above this level, we can see that the uptrend in Bitcoin continues in the coming hours. Because tomorrow is the Fed meeting. By increasing the risk appetite of investors before the FED meeting, the market maker can save a little long and press the price a little to compress them shortly before the meeting tomorrow. For this reason, we recommend that you stay away from high leverage.
Regardless of short-term fluctuations, we maintain our bullish expectation in Bitcoin and altcoins. As long as $58,000 and $60,000 levels are maintained, we consider pullbacks as buying opportunities.
*Not Investment Advice.