Continuing to find buyers below 106 thousand dollars BTC It has decreased by more than 5 thousand dollars since yesterday. The crypto king, which dropped its daily bottom to $ 103,528, caused many altcoins to lose more than 10 percent. Moreover, we experienced this in the midst of crypto reserves, ETFs and supporting regulation steps. Interesting price targets are on the agenda and BTC should protect the key area.
Solana (LEFT)
According to CryptoBullet elliot wave theory SOL Coin He mentioned that the possible bottom target for is clear. The increasing tension between China and the USA is turning into something similar to an embargo again. Following tariff-related delays, China’s intention to impose unilateral export restrictions has further complicated matters. We saw similar processes more than 2 times throughout the year, and ultimately Trump and Xi agreed. It is unclear whether the same thing will happen again.
The analyst shared the Solana chart above and said that wave C is solana (LEFT) He reminded that it is not impossible for Coin.
“I achieved my Wave (B) goal.
There are still 2 weeks left for the monthly candle to close green, but obviously solana it seems to be over (regardless of whether we will reach a higher peak to trap more people).
If we are currently in the Wave (C) phase, Solana holders should be prepared for a serious decline.”
If he is right, SOL Coin price may drop from $180 to $40 with a loss of $140. However, such comments from analysts who have experienced two extremes in fear and risk appetite in a few weeks should be evaluated cautiously.
Bitcoin (BTC)
BTC needs to maintain the weekly level of $101,700 to prevent us from seeing larger declines in altcoins. Scott Melker reminded that there has been no candle closing below the weekly 50 MA area since March 2023, and reminded that this is the level that should be protected.
Poppe said:
“Altseason is coming. 100%. The cycle is completely different. Bitcoin
$105,106.73‘of It needs to bottom out and move into an upward trend. Personally, I want it to go above $112,000. From there, ETH will move into its second phase towards $5,500-6,000. This will bring back trust.
And then? “This will be the beginning of altcoins’ first 5-10x gains from here.”
