#Qnt Seems Like Correction Is Near To End Formed Falling W | Crypto Eagles on Binance Square

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#Qnt  
Seems Like Correction Is Near To End Formed Falling Wedge in H12 Timeframe Expecting Massive Breakout Soon Incase Of Successful Breakout Expecting Move Towards 150$ In Coming Weeks
$QNT 

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Can Bitcoin catch up Gold? Gold has declined over the past two months, a move anticipated as the market entered the fifth wave of an extended wave 3 following a new all-time high. Currently, it appears we are experiencing a corrective pause in a higher degree wave 4, which may be nearing its conclusion. If so, this would lead to an increase in price for wave 5 of III. Bitcoin (BTCUSD) remains in a higher-degree uptrend after reaching a new all-time high in March, followed by a pullback that is still ongoing. This pullback seems to be part of a higher degree wave IV on the daily chart, likely forming a deeper A-B-C flat correction that could bottom out in the 55k-50k range. Gold is already rebounding and showing strong performance, having possibly completed its correction within a bullish trend. This is reflected in the Bitcoin/Gold ratio chart declining. However, once the BTC/Gold ratio chart finishes wave (C) of a higher degree A-B-C correction in wave 4, the BTC/Gold ratio could head towards all-time highs for wave 5, indicating that Bitcoin might then catch up to gold on the upside. $BTC $ETH #BinanceTournament

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Are Bitcoin Miners Capitulating Amid the Drop Below $60K? The Bitcoin network is exhibiting signs of miner capitulation, a stage characterized by miners stopping operations or selling part of their Bitcoin reserves. Historically, this process has been linked to Bitcoin prices bottoming out, followed by a much-needed uptrend. Signs of Bitcoin Miner Capitulation: Since the recent halving, the network hash rate has decreased by 7.7% from its peak on April 27. According to CryptoQuant, this decline indicates that less efficient miners have likely shut down their equipment due to negative profitability. CryptoQuant’s miner profit/loss sustainability indicator shows that miners have been significantly underpaid since April 20, the day after the 2024 Bitcoin halving. Daily revenues have dropped by 63%, from $79 million on March 6 to $29 million currently, with transaction fees comprising just 3.2% of the total revenue, the lowest share since April 8. The average mining revenue per hash (hash price) is also near all-time lows at $0.049 per EH/s, just above the record low of $0.045 reached on May 1. Additionally, miners have been transferring Bitcoin out of their wallets at increased rates, with daily outflows hitting their highest volume since May 21, indicating potential selling. $BTC #BinanceTournament

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What Next For Bitcoin? With Bitcoin struggling to stay above $60,000, bearish sentiments are growing louder in the crypto community. Some predict that the leading cryptocurrency could soon fall to the $40,000 range. Crypto analyst CrediBULL Crypto stated that “there is still a lot that must be done” for Bitcoin to reach that level, implying it’s unlikely to happen in the near future. He also provided insights into potential scenarios for Bitcoin at its current price. According to CrediBULL Crypto, Bitcoin might drop to around $58,000, maintain a higher low above $56,000, and then rebound. However, if Bitcoin falls below the $56,000 mark, it could drop to the $53,000 demand area. Furthermore, the analyst suggested that if Bitcoin fails to stay above $53,000, the $40,000 range could become a possibility. Nevertheless, he believes this scenario is “the least likely to actually play out” and advised against giving it significant consideration at this time. $BTC $ETH

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#DYM is been just going with the down trend and moving lower towards the listing price. Price also moving with the large downtrend channel pattern and nothing can be done here. Its better to skip this and look into another coin. $DYM #IntroToCopytrading #ETH_ETFs_Approval_Predictions #ETH_ETFs_Approval_Predictions

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You won't scare me, bears! I keep opening more solid mid-term longs, today I add #WLD The price is at absolute lows, no point to ignore this. I buy in the blue zone, my targets are long-term! $WLD

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