Bitcoin’s price action has begun to slow down, and should it continue its uptrend, expect to see a choppy trend upwards. Bitcoin has been in a trading range for over 20 days, and there is now a 50/50 probability of a move in either direction. With that being said, any potential downside will likely be limited due to increased as a result of a BTC ETF in 2024. If we see a bear breakout, we expect BTC to find its footing between $26,000 to $30,000. Should this materialize, we feel that it will be an excellent buying opportunity.
Altcoins like LINK and SOL have paused their rallies, and have begun consolidating. Both of them have given 100+ percent returns and we feel that this could be a warning sign of a short-term reversal in the market. Irrespective of the crypto market’s optimistic outlook over the next few months, we expect to see a tedious trend upwards for digital assets.