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🚀 According to U.Today: $BTC on Verge of Losing $60,000 Bitcoin is currently on the brink of dropping below the $60,000 level, a significant psychological and technical level for the cryptocurrency. As observed on the chart, a descending trendline is clearly applying downward pressure, guiding Bitcoin into forming lower lows. This pattern suggests that the downward momentum might continue in the near term. The current market dynamics show Bitcoin's price being squeezed by this descending trendline. Every attempt to push upwards meets resistance, leading to lower highs — a classic indicator of a continuing downtrend. Notably, the volume of trades has been decreasing, which typically indicates a weakening of the current trend and potentially sets the stage for a trend reversal. However, the current signals suggest that the market is not yet ready to reverse to being bullish. Adding to the complexity of the movements is the potential formation of a higher low, which could be the first sign of an impending shift in trend. This is a critical observation as it could signify that although the overarching trend is bearish, there is some buying interest at lower levels that prevents further drops, providing a temporary floor for Bitcoin's price. The immediate future of Bitcoin's price largely depends on its interaction with the trendline and key moving averages. Currently, the 50-day Exponential Moving Average (EMA) sits around $65,000, acting as potential upper resistance in case of any bullish reversal.

🚀 According to U.Today: $BTC on Verge of Losing $60,000

Bitcoin is currently on the brink of dropping below the $60,000 level, a significant psychological and technical level for the cryptocurrency. As observed on the chart, a descending trendline is clearly applying downward pressure, guiding Bitcoin into forming lower lows. This pattern suggests that the downward momentum might continue in the near term.

The current market dynamics show Bitcoin's price being squeezed by this descending trendline. Every attempt to push upwards meets resistance, leading to lower highs — a classic indicator of a continuing downtrend. Notably, the volume of trades has been decreasing, which typically indicates a weakening of the current trend and potentially sets the stage for a trend reversal. However, the current signals suggest that the market is not yet ready to reverse to being bullish.

Adding to the complexity of the movements is the potential formation of a higher low, which could be the first sign of an impending shift in trend. This is a critical observation as it could signify that although the overarching trend is bearish, there is some buying interest at lower levels that prevents further drops, providing a temporary floor for Bitcoin's price.

The immediate future of Bitcoin's price largely depends on its interaction with the trendline and key moving averages. Currently, the 50-day Exponential Moving Average (EMA) sits around $65,000, acting as potential upper resistance in case of any bullish reversal.

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🔥 According to U.Today: $SHIB Reaches Important Level Shiba Inu has recently reached a critical support level at $0.000022. This price point is crucial for the asset as it has historically acted as both a springboard for upward movements and a barrier to prevent further declines. As SHIB hovers around this level, the potential for a significant breakthrough looms, possibly defining its trajectory in the coming weeks. The $0.000022 mark is not just another number on the chart; it represents a key psychological and technical level for SHIB. Technical analysis shows that SHIB has tested this level multiple times, making it a significant point of interest for traders and investors. A decisive move away from this level could signal a new phase for SHIB, potentially leading to a robust recovery or, conversely, a deeper retreat. One of the notable aspects of the current market condition for SHIB is the unusually low trading volume. This lack of volume indicates a period of consolidation, with many investors sitting on the sidelines, waiting for a clearer direction in the market. As highlighted in U.today's previous article, there has been a notable absence of large transactions, or "whale" activities, within the SHIB market. This absence of significant transactions from larger market players could be contributing to the low volume and the current price stagnation. Without the influence of whales, SHIB's price is less likely to experience the sharp spikes or drops that large transactions typically cause. Looking forward, SHIB's position at this critical support level, combined with its low volume, sets the stage for a potentially volatile breakout. If market conditions change, such as an increase in trading volume or return of whale activities, SHIB could quickly move beyond this level.
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🚀 According to NewsBTC: $BTC Cash Price Revisits Support In the past few days, there has been a steady decline in Bitcoin Cash price like Bitcoin and Ethereum. BCH declined below the $450 and $440 support levels to move into a short-term bearish zone. A low was formed at $421 and the price is now consolidating losses. There was a minor move above the $430 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $457 swing high to the $421 low. Bitcoin cash price is still trading below $440 and the 100 simple moving average (4 hours). Immediate resistance on the upside sits near the $438 level. There is also a key bearish trend line forming with resistance at $438 on the 4-hour chart of the BCH/USD pair. The trend line is close to the 50% Fib retracement level of the downward move from the $457 swing high to the $421 low. A clear move above the $440 resistance might start a decent increase. The next major resistance is near $4502, above which the price might accelerate higher toward the $465 level. Any further gains could lead the price toward the $480 resistance zone. If Bitcoin Cash price fails to clear the $438 resistance, it could start a fresh decline. Initial support on the downside is near the $425 level. The next major support is near the $420 level, where the bulls are likely to appear. If the price fails to stay above the $420 support, the price could test the $400 support. Any further losses could lead the price toward the $384 zone in the near term.
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