Introduction
Currently among cryptocurrency traders, there is uncertainty as to whether it is the best time to enter the market to buy and capitalize on a potential rebound to the upside, or whether it is the best time to exit the market to sell and avoid further losses.
The dilemma that exists between bearish and bullish traders is a product of fundamental and technical analyses that on the one hand point to a Bitcoin price below $90K, and on the other hand those who consider that there are conditions for a potential upward rebound above $100K for the main cryptocurrency.
It is worth mentioning that fear entered the scene and can trigger a good buying opportunity, this if we take into account that the weak hands will sell their positions, but on the other hand, the rumor of buying with the news about the Federal Reserve meeting where they will touch the points; inflation and asset purchases, which means a probable massive Bitcoin purchase.
Now, beyond the dilemma that reigns in the cryptocurrency market from my perspective the current market structure will remain over a sideways zone between $95K and $100K, let's keep in mind that the recent correction has barely been going on for less than two weeks, so, the market is expected to accumulate for a couple of additional weeks before the next upward momentum.
My hypothesis about a potential bullish continuity is based on the following, let's remember that during the months of 2024 the Bitcoin advance towards its acceptance in the institutional financial sector has passed a new stage and, incidentally, its value has reached a new historical maximum, therefore, the most logical thing is that more institutions and continue to adopt the Bitcoin within their financial structures, an element that somehow supports the growth of Bitcoin.
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The cover image was designed by the author: @lupafilotaxia, incorporating image: Source: Genbeta
