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Many coins have seen strong bounces recently, followed by some minor pullbacks.
Many coins have seen strong bounces recently, followed by some minor pullbacks. Yet, the sentiment across the board reflects the trauma of the past six months—and I get it. We've witnessed countless retracements right when it seemed like we were finally breaking out.
But here’s the silver lining: many of these coins have shifted to bullish trends, and they’re not just forming another lower high on the daily charts. This means that a bigger move is needed to reverse these trends back to bearish territory.
If you trust that these bullish trends will hold, then the dips present buying opportunities. If you think otherwise, then that changes the approach entirely. It’s crucial to stay selective—focus on the coins showing strength, as they tend to be the first to recover.
One key level to watch is Bitcoin breaking back above $65K. That’s the level where the previous local high was established in August, and reclaiming it could be significant for market momentum.
An interesting week ahead, for sure.
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