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Shudders Below $67,000, More Than 75K Traders Liquidated Amid Market Decline
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$BTC #BinanceBlockchainWeek Bitcoin will reach $70,000 this week, stay tuned
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**Bitcoin and Ethereum Outlook for the Upcoming Week** #MarketDownturn Good evening, it's challenging to describe the market conditions over the weekend. Despite the expected downturn, the market has become increasingly fearful and support levels are becoming precarious. A bit of relief might be on the horizon next week, offering a chance for a rebound. **Bitcoin:** Reviewing the current market, during the last bull run when Bitcoin first hit $64,800 and then started to correct, the price halted its decline when it fell below the 0.618 Fibonacci level. The price then surged to a new high of $69,000. In the current bull market, the medium-term correction recently touched the 0.382 level. Historically, a correction dropping to the 0.618 level could potentially push Bitcoin below $45,000. The retracement is not yet complete. **Ethereum:** Ethereum has struggled to break previous highs during this bull run. Continuous market outflows have prevented ETH from entering a phase of institutional inflows, which limits price support and upward movement. For a significant market move, we might need to wait for the Federal Reserve to cut interest rates and release funds. Currently, the Fed has absorbed much of the available liquidity, and without new injections, it's challenging to expect a sharp rise in the market. **Weekly Structure:** After a Doji candlestick formed at a high level last week, the market experienced a sharp decline this week. The first high at $73,800 was corrected back to around $72,000, and the highest point in this rebound was around $70,000, indicating a clear downtrend. There's a strong possibility that this correction could drop below the $53,200 low and even fall below $50,000. **Outlook:** Given the current trend, short-selling may continue to be favorable next week on a weekly basis. It's recommended to consider rebound opportunities cautiously while monitoring for further signs of market stabilization.
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$BTC You have to buy so that BTC improves and the rest of the currencies improve. It is necessary to pump into the market. Bitcoin
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$BTC What are your predictions for Bitcoin's price movement in the upcoming week? Do you expect it to go up or down, and what reasons are you basing your analysis on? Share your thoughts using the hashtags #Entry and #BinanceTournament"
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ARKM is on fire and has taken yet another$ARKM breakout step! It has confirmed its support at 1.2$, and with substantial volume, it's progressing steadily towards our subsequent target of 2.65$. Hope $BTC stays green too! We noted 570% gains in the last rally.
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