Cryptocurrency markets are down on Monday after Bitcoin peaked above $105,000 in early trading hours.
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Trader Notes: Altcoin Sherpa remains bullish on Bitcoin long-term but warns of a likely pullback in the short term, though the timing and depth remain unclear.
Voicing a similar opinion, Sherpa advised that if anyone is looking to buy Bitcoin for long-term positions and aren’t very active, it’s probably best to wait for a dip, potentially to the low to mid $90,000s.
ShardiB2 points to $103,400 as a critical daily close level. A close above would invalidate a potential local top, but advises caution for longs at current levels, noting higher time frame signals are more reliable.
Meanwhile, Kaleo speculates whether Bitcoin is positioning itself for a massive upside scenario, potentially spiking to $520,000 in the longer term.
The Cryptomist sees Bitcoin CME gap having been filled, and the user now expects BTC to move toward $108,000. Altcoins are anticipated to follow the upward move.
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