In this Gem Hunters live meeting, Seth Army Piper, Crypto with Brian, Crypto Grind, and SSM Crypto discuss Bitcoin technical analysis and whether they believe the altcoin season is upon us or if it’s just a short pump. They note that Bitcoin has broken resistance levels and looks bullish on the weekly and daily charts but advise caution in trading in the middle of the current range as it is “no man’s land.” They suggest waiting for Bitcoin to reach either 32,000 or 29,000 and observing candle reactions before potentially buying or selling. They also discuss support and resistance levels on the four-hour and one-hour charts.
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Gem Hunters 11th Meeting: Bitcoin Technical Analysis and Altcoin Season Discussion
Introduction
Foreign welcomes viewers to the 11th Gem Hunters live meeting on their channel. The panelists joining are Seth Army Piper Crypto, Brian Crypto Grind, and SSM Crypto. The discussion will focus on Bitcoin technical analysis and a debate on whether the altcoin season is upon us or just a short pump. The panelists’ channels are linked in the description, and there will be a chat Q&A at the end.
Cryptocurrency with Brian Introduction
Crypto with Brian talks about his channel, where he mainly focuses on technical analysis of Bitcoin and other altcoins. He also discusses the fundamentals of coins like Cardano and those he personally likes. As a trader, he highlights the key levels of support and resistance on the daily chart, which are between 31,000 and a half and 32,000 dollars and around 28,000 and a half going close to 29,000 dollars. The current market structure is bullish, creating higher highs and higher lows, and so he waits for the reaction of candles and sees their closure before making a trading decision.
Bitcoin Technical Analysis
On the weekly chart, Bitcoin has broken above the resistance level at 28,600, and there is bullish momentum on the chart with nine hours left to close the candle. On the daily chart, there is a lot of momentum to the upside, and Bitcoin broke the previous level of big resistance before CPI. The trader is waiting to see if Bitcoin will reach 32,000 dollars or retrace to 29,000 dollars. In the former scenario, he would wait to see the reaction of the candles and then potentially take a sell position, while in the latter, he would take a buying position as the market structure is bullish. The main levels of support and resistance for Bitcoin are between 31,000 and a half and 32,000 dollars and around 28,000 and a half going close to 29,000 dollars.
Altcoin Season Discussion
The panelists discuss whether the altcoin season is upon us or just a short pump. They debate the current market structure and how it may affect altcoins. They also discuss the fundamentals and long-term prospects of various altcoins.
Chat Q&A
The panelists answer questions from the chat about various altcoins, Bitcoin technical analysis, and trading strategies. They provide insights based on their experiences and opinions on the cryptocurrency market.
Conclusion
The 11th Gem Hunters live meeting concludes with a discussion on Bitcoin technical analysis and the altcoin season. The panelists provide valuable insights and information for viewers to consider while making their cryptocurrency trading decisions.
