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The market is closely watching the CPI data and hoping for a possible rate cut by the Federal Reserve. Rate cuts are expected, especially with elections coming up, and historically, Bitcoin tends to rise towards the end of the year (October to December). On Crypto Banter’s The Sniper Trading Show, the analyst said that  if Bitcoin moves up, it could target higher levels like $65K or even $100K in the long term. If the market doesn’t hold, it could drop to $50K or lower. However, he warned of a potential 2% drop in Bitcoin, signaling a possible short-term decline but with an overall bullish outlook.  The analyst is focusing on altcoins, especially PEPE and Arweave (AR), which he sees as good trading opportunities. First, he discusses PEPE, saying it’s a promising trade and also warned about the short-term volatility. However, he remains committed because PEPE has strong potential, especially when meme coins like this often see sudden price jumps. He opened up about two key buying zones for PEPE—one now and one about 3% lower. His target for PEPE is a 26-30% gain, making it one of his top priorities. Next, he discusses Arweave (AR), which is currently declining (bleeding), but he sees this as a good buying opportunity, especially for those using dollar-cost averaging (gradually buying in). The eight-hour trend shows AR in a downtrend, but he believes it’s worth accumulating for the long term. He suggests AR could fall to around $17, but prices below $20 are a good opportunity to buy, especially with positive developments in the Arweave ecosystem. Additionally, the analyst discusses Injective (INJ), and stresses his confidence in the coin ahead of the Consumer Price Index (CPI) data release, which often brings volatility. He once again said that the overall market outlook is positive, and…

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Filed under: News - @ September 11, 2024 9:20 pm