BTC tested the resistance zone as US stock futures turned positive. But he hasn’t been able to break it yet. The long 15-minute bullish candle is reversing for now. While BTC finds a buyer at $ 92,400, Andre Dragosch is thinking about determining the right time. Here are the expectations in cryptocurrencies.
Bitcoin is at Resistance Level
under $100 thousand BTC experienced a faster decline than expected. We will see if the return will be that fast, but for now, the first main target, the resistance of 93 thousand dollars, has not been regained. US markets will be open until 21, after which the incomplete holiday will continue. It would be good to overcome the resistance for cryptocurrencies to follow a positive trend by Monday.
Rekt Capital came on stage again after a long break and drew attention to the test at the resistance level.
“Bitcoin
$90,846.46“Retested the ~$93500 Range High resistance, recovering over 7% from the new Range Low.”
Of course, while the article was being prepared, the end of the green candle on the chart had started to turn into a wick because BTC dropped by nearly a thousand dollars, falling to 92 thousand dollars. It should not be forgotten that short-term investors turn every rise into a selling opportunity. This resistance is also a good opportunity for them to sell and buy lower, but once it is broken, we can see that short-termers are eager to buy at higher levels to get back into the game with enthusiasm.
Is It Time for Cryptocurrencies?
Andre Dragosch today Bitwise He talked about his new work developed with. Macro and Bitcoin Reflecting on his relationship, Andre addresses the issue of pricing. Although it is an in-depth study, what he predicts is that Bitcoin will bring good profits as conditions improve further next year.
“Personally, I tend to be bullish from a macro perspective because Bitcoin can exceed the prevailing macro outlook both to the downside and to the upside. The pricing of any asset is essentially macro sentiment. I think that’s where a lot of the alpha comes from. And I think we’re having one of those moments again.”
Even better: Based on the amount of previous monetary stimulus, I think global growth expectations will accelerate from here – pointing to a re-acceleration through 2026.
So, even though growth has already picked up, recession-level growth expectations are being priced in for Bitcoin! The last time I saw such an asymmetric risk-reward ratio was during the Covid era. At that time, Bitcoin quickly recovered after the March 2020 shock… and rose 6x by year-end 2020… Call it a coiled spring, a ball under water… whatever you want. “I really think we are facing a similar macro structure right now.”
Of course, I have to remind you again about the possibility of being proven wrong, but he says “it’s time”.
