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Welcome to this quick update on Bitcoin. Currently, Bitcoin hovering at $54,400. In my previous update, I clearly mentioned that BTC does not look good and we may see a retracement from here and the same is happening now.
Right now if we look into the 2hour chart of BTC there is strong support at 53k. If we break down this support zone then we revisit the $49-51k which is highly likely IMO.
So put your buy orders between $49-52K and as of now do not hold many positions in altcoins. When we see a retracement in Bitcoin, Altcoins follow it then we start taking entries in some good altcoins.
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This isn't financial advice. DYOR before investing.
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