$BTC 📣 Bitcoin entry price averages $47K despite market drop
CryptoQuant analysts have stated that the current average entry price for Bitcoin🪙 traders is around $47,000.
In a bull market, BTC's price typically stays above this average entry price. Despite a 27% drop, it is still considered a bull market as the price remains above the average entry 🙏 #BinanceTournament #AirdropGuide #ETHETFsApproved
1️⃣ As I spoke several hours ago, the 67200 area is the support and the breakout of 67800, and we are now in the first area, which is from 70500 and ends at 67800, so it is positive, but I see it as negative so far. Why is it negative with this strong rise? Remember that my analysis is not wrong either, and the trend path is not wrong either.
2️⃣ The reasons are clear. We have not seen any confirmations of the ETH SPOT ETF from the SEC. Secondly, the pumping is very normal. Who remembers the rise of BTC to 73,800? Then what about a violent drop to 59,000? However, this does not mean that BTC is negative, but its penetration is questionable. Also, the rise is caused by the news when the SEC results appear. Listing approval or rejection. We will know PUMP or DUMP failure. Also, do not forget the USDT domain’s arrival to the strong support area, which caused a breakout once and did not touch the area of 4.50. It is expected to return to 4.55 or 4.60, and this thing is normal, like any very strong rise that occurs here.
3️⃣ The ETH penetration is good, but it is not certain that it will be in price areas like the BTC fluctuation that occurred several days ago. The ETH penetration is still positive, but it needs another penetration or a simple correction and penetration again, the correction from 3450 to 3320, then starting again to rise again to the 3500 areas, to the most important area. Penetrating 3650 means that BTC will reach the 75,000 or 85,000 area. Also, avoid using high leverages when using ETH and BTC in trades. Reserve.
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