Analyst: Cryptocurrencies Typically Adjust the Week Before Fed Meetings, Correction May End and Rebound Start on Tuesday
According to Cointelegraph, crypto analyst Michaël van de Poppe stated, "Despite the recent strong rebound in Bitcoin, there is still enough room to retest support levels. I would prefer to see Bitcoin remain above $91,500 to $92,000.
For me, this would confirm the continuation of the upward trend, as the previous range support becomes effective support again, indicating a potential to continue challenging the all-time high (ATH). Cryptocurrencies and altcoins tend to adjust in the week before the Federal Reserve meeting, speculating that this round of adjustment will end around Tuesday, after which a rebound will begin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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