Recently, there have been significant fluctuations in the cryptocurrency market and Bitcoin has shown significant price changes. Major market figures such as Michael Saylor and Peter Brandt have openly expressed their positive thoughts about Bitcoin. Technical analysis shows that Bitcoin's future price movements could be critical if it breaks certain resistance levels.
Bitcoin is on the verge of a potentially significant price move as it closed its daily candle above the $58,500 level. Experienced trader Peter Brandt suggested a positive outlook, stating a short-term buy signal. Industry luminaries such as Michael Saylor offered optimistic perspectives that strengthened market sentiment.
On July 7, 2024, Michael Saylor said, "Bitcoin is designed to keep winning," highlighting Bitcoin's strong design and enduring value proposition. This supportive interpretation provides potential for Bitcoin's long-term success.
The bullish formation, which Peter Brandt called "Foot Shot", was defined as a short-term buying signal and increased market interest. Technical analysis of Bitcoin shows that it faces significant resistance, especially at the 200 Exponential Moving Average (EMA) level near $58,000. A breach of this level with daily candle close above $58,500 could trigger a significant move towards the $60,500 level.
The Relative Strength Index (RSI) is in the oversold territory, forming a bullish divergence that indicates a possible recovery is imminent. If Bitcoin makes a daily close above the $58,500 threshold, it could lead to the liquidation of approximately $2.4 billion in short positions, according to CoinGlass. Additionally, Bitcoin's recent 1.4% increase in open interest indicates a slight increase in trader and investor participation.
Currently, Bitcoin is trading near the $57,800 level and is up a modest 2% in the last 24 hours. However, trading volume decreased by 37% during the same period, indicating reduced investor and trader participation. Over a longer period, Bitcoin is down 6% in the last week and has fallen by a significant 20% over the past month from $71,300 to $57,800.
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So who will benefit?
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I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
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The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
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WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
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